Key people in each company play a crucial role in failure or success. While most of the firms and organizations are led by aged administrations, some believe that younger people would be more effective for leadership. This essay will present a brief analysis of both sides of this argument and provide the author’s opinion.
On the one hand, younger department heads would be suitable for the leadership role as technology and methodologies have progressed in our new modern era. So, the latest changes would be difficult for the elderly to keep themselves up-to-date with the widespread developments. For example, my grandfather prefers to preserve his company documents in hard copy versions instead of saving them in soft copy. Moreover, younger generations are more open to taking risks and are capable of thinking out of the box which might bring creativity and novel ideas for development. For example, in Dubai, the young prince took the leadership of the government decisions and now Dubai is one of the most important business hobs’ in the world due to his open-minded efforts.
On the other hand, senior individuals have priority over juniors due to their valuable wealth which is experience. To illustrate, as a result of their expanded working years, they have facilitated remarkable capabilities such as critical thinking skills and realistic mindsets. As an example, according to a recent report conducted by the BGC Organization, most of the firms that survived the critical economic impact of the COVID-19 pandemic were managed by mid-age and older adults.
To conclude, a manager could be the main factor in the success or failure of an institution. Although experience and critical decision-making skills in seniors are extremely helpful, younger ones by accessing modern tools and accepting the possible risks might shift the systems to higher stages. Overall, from the essay it can be seen that adopting a balanced management team can be a reliable coaching form of every system.