Summary of Theory and Practice of Management notes from The University of Exeter. Student gained a first class degree using these notes. Theory, case studies and extra notes included.
Global Population Growth
Is the exponential rate of increase sustainable?
Fertility Rates
- Fertility rates have a substantial impact on population growth
- Replacement rate = 2.1
- Current world fertility rate: 2.4
- In 1950, the fertility rate was 4.7
- Currently:
o Highest in sub-Saharan Africa – 4.9
o Lowest in Europe – 1.6
o 15 countries have fertility rates below 1.4 – Italy, Spain, Greece, Poland
What are the Big Trends in the UK?
• Most substantial trend – population ageing
• Individuals living longer, declining birth rate
• Life expectancy doubled between 1841 and 2011
• Substantial numbers of people living above the retirement age
• Death rates declining or both males and females
• Will life expectancies continue to increase?
- High rates of childhood obesity a problem
- Will current generation see a fall in life expectancy?
Implications of Population Ageing
Everyone wants to enjoy a longer life
Population ageing as a substantial social challenge
Pensions (Blake & Mayhew, 2006)
Health care/social care
A mixed blessing?
What about the balance between our working and non-working lives?
How do we share the burden of pensions?
The “Grey” Pound
• A third of over 65s in the UK have net assets worth over £500,000
• 10% have net assets worth over £1million
• Pensioners in the UK own £800bn worth of property
• Over 65s in the USA are 47x wealthier than under 35s
• Baby boomers are a great deal MORE wealthy – 1 in 6 UK residents aged 55-64 own a
second property
Population Ageing: Product Market Implications
Changing patterns of consumption
Do we change the brands that we affiliate with over time?
Importance of segmenting your market
Older individuals more loyal to brands?
Which markets are likely to benefit/lose out because of demographic changes
Population Ageing: Employment Implications
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