The Emergence of New Business

The following is an extract from upcoming EDC publication - to be published by Business Expert Press NYC:

Generation Entrepreni

The Emergence of New Business

& Deal-making Paradigms

The nature of deal-making has undergone some paradigm shifts in keeping with the emergence of new generation of companies such as Uber, Classpass, Airbnb, Deliveroo, Netflix, Wework, Tripadvisor and Trov. Minimal click purchasing,rapid delivery, real-time order status updates and online feedback and reviews are becoming the new modern norms. How many people nowadays book restaurants and accommodation online without first checking prior online reviews?

Generation Y (or Millenials) are identified as those who were born from the 1980s to the late 1990s/early 2000s, and Generation Z as those who were born from the late 1990s/early 2000s. I describe these two groups together as Generation Entrepreni, and ask to what extent, if at all, the behavioural attributes of Generation Entrepreni are shaping these shifts in the nature of deal-making?

The concept of younger generations influencing the way organisations conduct themselves is not new. For example Jack Welch, while chief executive of General Electric in 1999, requested 500 of his key managers to pair up with younger workers to be “reverse mentored” in learning how to use the internet most effectively.

Consumer, technology and innovation trends are heavily influenced and/or driven by the tastes, consumption and social media influencing patterns of younger generations. The influence of social media on brands together with growing technology use is contributing to changing the business landscape. Having grown up online, in an instantaneous “tweet world” of influencing, rapid feedback and constant technology iterations and versions, Generation Entrepreni contributes to informing, shaping and driving efficient, connected and “always-on” business.

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