Every business, every organization, every venture depends on human capital for success. Whether it’s staff, management, suppliers, or customers, without people, none would survive. It’s a basic and obvious truth. Bur there are elements within that equation that may be overlooked. When hiring, we open our doors and receive application. But what happens when there is a lack of qualified people and competition for them is strong? We regularly look at our sales figures and note seasonal changes, purchasing preference changes, and changes due to marketing from competitions, but do we ever bother to study the size of our target market over the long term? Most of us are content with knowing that our market share is growing, that by marketing to the young, we will make them life-long customers of our products and services. But what happens when the proverbial well of young and impressionable minds begins to dry up?
What if, in 5, 10, or even 20 years from now, the market size of the young changes from 25% of the population to 15%? How will such changes affect your marketing campaigns, manufacturing processes or your product innovation and development? What happens when retirees increase both in real terms and as a percentage of the total population?
If you are a forward-looking CEO, managing director, business owner, or management executive, then these changes in population should concern you and be included in your long term business plans. This book will help you understand demography; what it means when there are concerns on demographic transition, or a second demographic dividend, and how to prepare for a future where things will be very different from what they are today.