MANAGING in the

NEW WORLD

In spite of being labeled as lazy, narcissistic or idealistic, millennials have now stepped in to be the main components of several new business streams, many of which have been crafted by them. The first one of them is new media economy. This includes Social Networking Services (SNS) and power blogging. Social media tools such as Facebook, Line, WhatsApp, Snapchat and Instagram are now used by billions of people now in some form or the other. The data generated provides enormous insights into usage patterns. The power bloggers on the other hand drive advertising impacts becoming centerpieces in digital marketing campaigns. While the overall scope of IPOs has reduced, it is social media platforms that are generating some of the meatiest of them. China, India, South East Asia and the Middle East region are seeing a renaissance for startups. Intangible currency through digital wallets, mobile payments and bitcoin has now become more mainstream for this generation. Asian countries such as China and South Korea have become massive markets for Bitcoin. The concept of the sharing economy has also gathered ground fuelled by the likes of Uber and Airbnb. In addition there are regional players in Asian countries such as Didi Chuxing in China, Ola in India, Go-Jek in Indonesia and Xend in the Philippines. This generation is in fact much more trusting and collaborative with complete strangers.

Source:http://www.huffingtonpost.com/asiatoday/millennials-are-creators_b_13919750.html

 

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