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Generation X,Y: Definition and Properties

Generations time line:

The time line represents the generations, is a very subjective to opinion of different sociology scientists, and differ wildly among different countries as it is related to incidents affected the Americas and Europe.

Generation timeline.png

  Figure 1: Generation timeline

 

 

Generations’ properties: [1]

Generation X

(Born: 1966-1976 – Coming of Age: 1988-1994 – Age in 2017: 41 to 51)

Sometimes referred to as the “lost” generation, this was the first generation of “latchkey” kids, exposed to lots of daycare and divorce.
Known as the generation with the lowest voting participation rate of any generation, Gen “X”ers were quoted by Newsweek as “the generation that dropped out without ever turning on the news or tuning in to the social issues around them.”
Gen X is often characterized by high levels of skepticism, “what’s in it for me” attitudes and a reputation for some of the worst music to ever gain popularity. Now, moving into adulthood William Morrow (Generations) cited the childhood divorce of many Gen Xers as “one of the most decisive experiences
influencing how Gen Xers will shape their own families”.
Gen Xers are arguably the best educated generation with 29% obtaining a bachelor’s degree or higher (6% higher than the previous cohort). And, with that education and a growing maturity they are starting to form families with a higher level of caution and pragmatism than their parents demonstrated. Concerns
run high over avoiding broken homes, kids growing up without a parent around and financial planning.

Generation Y, Echo Boomers or Millenniums

(Born: 1977-1994 – Coming of Age: 1998-2006 – Age in 2017: 23 to 40)

The largest cohort since the Baby Boomers, their high numbers reflect their births as that of their parent generation. The last of the Boomer Is and most of the Boomer II s. Gen Y kids are known as incredibly sophisticated, technology wise, immune to most traditional marketing and sales pitches…as they not only
grew up with it all, they’ve seen it all and been exposed to it all since early childhood.
Gen Y members are much more racially and ethnically diverse and they are much more segmented as an audience aided by the rapid expansion in Cable TV channels, satellite radio, the Internet, e-zines, etc.
Gen Y are less brand loyal and the speed of the Internet has led the cohort to be similarly flexible and changing in its fashion, style consciousness and where and how it is communicated with.
Gen Y kids often raised in dual income or single parent families have been more involved in family purchases…everything from groceries to new cars. One in nine Gen Yers has a credit card co-signed by a parent.

Generation Z

(Born: 1995-2012 – Coming of Age: 2013-2020 – Age in 2017: 5-22)

While we don’t know much about Gen Z yet…we know a lot about the environment they are growing up in. This highly diverse environment will make the grade schools of the next generation the most diverse ever. Higher levels of technology will make significant inroads in academics allowing for customized
instruction, data mining of student histories to enable pinpoint diagnostics and remediation or accelerated achievement opportunities.
Gen Z kids will grow up with a highly sophisticated media and computer environment and will be more Internet savvy and expert than their Gen Y forerunners.[2]

[1] http://socialmarketing.org/archives/generations-xy-z-and-the-others/

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The World’s Most Admired Companies (WMACs): Definition and Properties

Introduction:

Korn Ferry Hay Group, which has conducted the research for the World’s Most Admired Companies list since 1997, Korn ferry Hay Group is a global management consulting firm.[1]

The produced list gets published in the reputable Fortune magazine annually.

The list includes 57 industries, with total of about 1500 companies, assessed upon stringent criteria, the result then presented to a group of about 4000 respondents, which lead to a final score that ranks the companies in the World Most Admired Companies (WMACs).

The criteria

“The world’s most admired companies” is a list compiled by the famous business magazine Fortune and Korn Ferry Hay Group.

The list contains the companies which scores high in nine criteria, namely are:

  • Innovation,
  • People management,
  • Use of corporate assets,
  • Social responsibility,
  • Quality of management,
  • Financial soundness,
  • Long-term investment value,
  • Quality of products and services,
  • Global competitiveness.

 

The ranking methodology:[2]

  • The long-list start with about 1,400 companies: the Fortune 1,000—the 1,000 largest U.S. companies ranked by revenue and non-U.S. companies in Fortune’s Global 500 database with revenue of $10 billion or more.
  • Create the 57 industry lists, in order to achieve that Korn Ferry Hay Group asks executives, directors, and analysts to rate companies in their industry on nine criteria, innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment value, quality of products and services, and global competitiveness
  • A company’s score must rank in the top half of its industry survey to be listed.
    1. Because of weak the distribution of responses, only the aggregate industry scores and ranks are published in Energy; Forest and Paper Products; Mining, Crude-Oil Production; Pipelines; Temporary Help; Trading Companies; and Wholesalers: Diversified.
    2. Because of an insufficient response rate, the results for companies in Health Care: Pharmacy and Other Services and Wholesalers: Food and Grocery are not reported.
  • Then, Hay Group asked the 3,920 respondents to select the 10 companies they admired most from a list made up of the companies that ranked in the top 25% in last year’s survey, plus those that finished in the top 20% of their industry.

There is take on the ranking, because anyone can vote for any company in any industry, which is why some results may seem anomalous.

For example, Southwest Airlines ranks No. 9 on the overall Most Admired list, far ahead of No. 48 Delta. But within the airline category, based on industry experts’ responses, Delta leads the ranking, and Southwest is the seventh Most Admired company.

The most recent list:

In 2017, Fortune magazine listed the most admired companies as follows: [3]

  1. Apple: is an American multinational technology company headquartered in Cupertino, California that designs, develops and sells consumer electronics, computer software and online services.
  2. com: is an American company electronic company and cloud computing company that was founded on July 5th, 1994 by Jeff Bezos and is based in Seattle, Washington.
  3. Starbucks: is an American company and coffeehouse chain, Starbucks was founded in Seattle, Washington in 1971.
  4. Berkshire Hathaway Inc.: is an American multinational conglomerate holding company headquartered in Omaha, Nebraska.
  5. Walt Disney Company: is an American diversified multinational mass media and entertainment conglomerate headquartered at the Walt Disney Studios in Burbank, California.
  6. Alphabet Inc.: is an American multinational conglomerate founded on October 2nd, 2015.
    Founded by the two founders of Google, Larry Page and Sergey Brin, with Page serving as CEO and Brin as President.
  7. General Electric: often abbreviated as GE, is an American multinational conglomerate corporation incorporated in New York, and Headquartered in Boston, Massachusetts.
    In 2011, GE ranked among the Fortune 500 as the 68th largest firm in the U.S. by gross revenue, and the 14th most profitable.
  8. Southwest Airlines: is a major U.S. airline, the world’s largest low-cost carrier, headquartered in Dallas, Texas.

The airline has more than 53,000 employees as of October 2016 and operates more than 3,900 departures a day during peak travel season.

  1. com: an American for-profit corporation and online social media and social networking services.
  2. Microsoft Corporation: an American multinational technology company headquartered in Redmond, Washington.

Bibliography

Business news AE english. (2012, 2 22). The World’s Most Admired Companies List for 2017. Retrieved 26 2, 2017, from Youtube.com: https://www.youtube.com/watch?v=0Hea4Ifl9Ps

Korn Ferry Hay Group. (2015, 7 18). fortune wmac 2014. Retrieved 2 26, 2017, from Korn Ferry Hay Group: http://www.haygroup.com/downloads/us/fortune%20wmac%202014.pdf

[1] http://beta.fortune.com/worlds-most-admired-companies

[2] (Korn Ferry Hay Group, 2015)

[3] (Business news AE english, 2012)