Youth must step up contribution to business: Survey

The latest nationwide poll conducted by research firm Kantar TNS for business magazine LMD reveals that a majority of respondents (52%) feel the generation gap does not impact business – they believe that ‘anyone can do business’.

However, slightly over a third of those consulted hold an opposing view, citing reasons such as ‘success can be achieved as individuals gain experience over the years’ and ‘not everyone of different ages can do business’.

The survey reveals that nearly nine in 10 survey participants believe that the younger generation has yet to learn the ropes as their ‘knowledge of business must be up-to-date’ and ‘different methods can be adopted in business.’ 

According to the leading business magazine, a notable majority (75%) of those polled claim that the younger generation is ready to lead, pointing to an ‘increase in youth participation in every activity,’ and ‘the knowledge and understanding they possess’.

Generation Y’s demands are deemed reasonable by 54% of respondents with 12% holding a contrarian view – they claim that Gen Y acts aggressively and that its demands are unfair.

Ideas put forward by respondents to address the generation gap include basing leadership on merit rather than age, passing the baton onto the next generation, offering new opportunities to young people, asking young people to learn their trade, creating a culture of non-discrimination and reducing the retirement age.

LMD’s publisher, Media Services, says the March edition of the leading business magazine has been released to leading supermarkets and bookstores in Colombo and the outstations. Its Cover Story features an exclusive interview with the Chairman of CG Corp Global and Nepal’s first Forbes listed billionaire businessman Binod Chaudhary in which he discusses Sri Lanka’s progress and prospects for the future (for the full story, log onto www.LMD.lk).