Fundamentals of Management, 11/e

What Role Do Demographics Play?

Demography is destiny. Have you ever heard this phrase? What it means is that the size and characteristics of a country’s population can have a significant effect on what it’s able to achieve. For instance, experts say that by 2050, “emerging economies led by India and China will collectively be larger than the developed economies. Small European nations with low birthrates such as Austria, Belgium, Denmark, Norway, and Sweden will drop off the list of the 30 biggest economies.”19 Demographics—the characteristics of a population used for purposes of social studies—can and do have a significant impact on how managers manage. Those population characteristics include things such as age, income, sex, race, education ...