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7BSP1271 Marketing For Ageing Societies

University: London School Of Management Education

  • Unit No: 13
  • Level: High school
  • Pages: 10 / Words 2519
  • Paper Type: Essay
  • Course Code: 7BSP1271
  • Downloads: 68
Question :

This assessment will cover further questions:

  • Generate a critical understanding of the theories, which is relating to the ageing societies, and their implications for the individual, organisations and societies.
  • Evaluate the challenges and the opportunities presented by the ageing societies in contemporary business practices.
  • Exemplify the relevant theories in the context of current business issues. 
Answer :
Organization Selected : N/A

INTRODUCTION

Conceptual and critical understanding of theories win relation with ageing of people with time this is a natural phenomenon and many times because of consideration of ageing society of people. This will lead to a situation which will leave to a situation in which people of above 65 years of age which is a factor which will help in achievement of business objectives. With growing age management of employees becomes more difficult for organisations as they have to focus on various factors which reduce the negative impact of such elder employees in company) (Sprague, and Brown, 2017). This report deals with various aspects such as various theories related to ageing societies its overall implication on individual and society, various challenges and opportunities, application of various theories which are concerned with business issues and finally various recommendations and conclusions are made with referent to management of such employees by companies.

Critical and conceptual understanding of debates and theories which is related to ageing society and implication for organisation, individual and society

There are many theories which are related to various challenges such as dealing with people of such age group is a difficult task which has to be cope up with the changing times. This is related with a paradigm shift which is taking place in society in which there has been a emphasize which is laid down on having a working force who is younger in age so that they can make a contribution towards better society. There are some basic concepts which are related with this shift which is taking place towards having a working population in the organisation. There are many different theories such as programmed theories and damaged theories which are also known as error theories sometimes.

Programmed theories focus on a process of ageing which is related to the biological timetable which means that after a particular age the process automatically takes place with every individual (Singh, Subhan,Krishnan, Edwards and Okeke, 2016).

On the other hand Damahe theory or error theory majorly emphasises on various environmental assaults which are related to living organisms which includes cumulative damages which are caused at various different levels which is main cause of ageing.

The above discussed two theories are also referred as non-programmed theories of ageing and they both are based on evolutionary concepts.

Apart from this Trindade has also provided a view point in which he has tried to understand the evolution of ageing which environment dependent balance in which advantages & disadvantages of extend life span in the overall process of spreading of genes. The researchers have developed a framework which is a fitness base in which theory has been categorized into four types such as secondary, maladaptive, senemorphic and assisted death.

Above discussed are some of theories which are related with ageing process and are changing with time. Such theories are very helpful in understanding of overall phenomenon of ageing which is taking place in society.

Opportunities and challenges related to ageing society with contact to contemporary business practise

There are many opportunities which are related to ageing society such as this helps in having a experienced workforce in an organisation this will help in having those employees who are familiar and posses a clear understanding of what work has to be done by them. They will be having accurate clarity as to what is their job specifications and job role in the organisation. Such an experience leads to a better and increased performance of job responsibilities of a employee which further leads to increased in output (Scherbov and Sanderson, , 2016).

Another big opportunity can be that such a workforce will help in timely performance of business operations and this will help organisation in having a workforce which can perform according to expectations of their top management.

This is also a cost effective method as many times a lot of money has to be spent on training and apprenticeship programs on new hired employees this will lead to savings in terms of cost and time of top management of the company ( Lochlainn, Bowyer and Steves, 2018). This is a method which will help in savings of various financial resources, every organisation has limited amount of resources hence this is a benefit for the organisation which will help them in utilisation of their resources in a effective manner.

There are many challenges such as dealing with such age group of people is very difficult task as with age the understanding level also decrease which has a negative impact on overall working capacity of a person. Also, there is a big challenge which is having a relation with making them understand what work has to be done and in what manner.

Also, there is a big challenge that external environment is continuously changing and it becomes very difficult to cope with the needs of such dynamic changes. For an example a few years with the growth of technology computers evolved and many employees were not in familiarity with how such use such a technological advancement. This finally lead to situation in which training employees that are of such age was also not possible so as a result employees of such age become a burden for any organisation.

Know more: Sample Reflective Journal Assignment

Application of relevant theories to present business case

Another theory which is related to ageing process is the Activity theory which describes the process of ageing as a psychological process the activity theory is laying emphasis on importance of ongoing activity which is related to social aspect. This theory is related to the present case study in such a way that it helps in identification of the process of ageing in reference with the workplace and how does it gets affected at various level; such as individual and societal. This factor will help a person who is of elder age in surviving with the changing business situations and how to respond to such changes as environment if e very business whether it is internal or may be external environment, it can never be constant as it constitutes many fact ors which come together and they all have a effect on business situations and functioning(Jongen, Burazeri and Brand, 2015.

The above discussed theory is related to a positive sense of a person which the individual is in that age of older but has to experience different roles in context of workplace because of their job position or job responsibilities which they have to deal with changing nature of organisation with time. This activity theory is also having a relation with a process which is related and which describes the psychological process of ageing and is connected with self-concept of a person and various roles which they have to play that is for an example according to present case of a person is retiring because of age factor then they have to at same time maintain and balance various other roles which they are playing such as familial roles, volunteer, recreational type of roles and also one of very important roles that is community roles(Iwata, 2015 ).

Another very popular theory with reference to present case is the Neurodocrine theory which was proposed by Vladimir Dilman this theory is elaborating on overall wear
& tear and is also focussing on neuroendocrine system. This theory says that a system is very complicated as it governs various types of release of hormones which takes place in every human being with growing age. Also theory says that in every organisation when a individual attains a particular age then there are very situations which have to be taken care to survive with changing of their job roles and job specifications.

Identification of various stakeholders groups

There are many different kinds of stakeholders who are related to the organisation directly or on directly and they posses effect on various operations and functions which are taking place in the regular course of business. In case of ageing factor also this plays a very effective and crucial role as employees are one of most important stakeholders in every organisation as tey are ones based on whom the overall functioning of organisation is taking place and they help in smooth running & functioning of every organisation. In present case there is a situation which is related to the factor of employees, this is a natural process and with growing times though life expectancy is not a big issue as it is not a factor which is constant but it keeps on changing with time (Johnson, 2015).

The key elderly is applied to people who are between the age group of 60 to above it. According to various types of surveys which are being done by the world health organisation’s it can be said that this proportion of old age people is rising very fast and also in context of developing countries of world this is a ratio which is growing at very rapid speed and is affecting the corporate environment as working class is also which is growing in age and many organisations are having a concern about it there are many various stakeholders who are getting affected because of rising proportion of people who belong to a particular age group that is above 65 of years.Take online essay help from top essay writers!

There are many stakeholders most important ones are government which makes many policies in favour of individuals of older age. This makes it favourable for orders age people to work in organisations as this imposes a compulsion on organisations as they have to compulsorily adopt such norms. Another stakeholder are employees who are of younger age they are also working in organisation and if they feel that they are not having a secure future with the company then they will be willing to have on the company (Iwata, 2015). This might impose a negative effect on organisation as this will lead to increase in turnover of employee which in turn will have a effect on increase in cost and wastage of time and effort which a company does on providing training to employees.

Recommendations on age inclusive

There is a decline in overall accuracy which can be observed in people who are at stage of 60 years of age or above this age. There is a big factor which is considered in this age that is cognition when a person reaches at this stage this is a factor which is gradually declining and they are feeling a situation of frequently being observed between elderly people such type of changes occur at a very fast speed and they mainly occur because of proximal events of life whether it may be personal events or events taking place in organisations. Cognition declines are a result of proximal factors such as speed of processing, size of overall working memory posses by such ageing individuals. This is a big threat to quality of life which affects individuals and overall caregivers. In context of present case it can be said that in organisations this ageing process has to be dealt with high amount of sensitivity and carefully(Herron, Priestand Read, 2015).

  • A person who has achieved or has become of a older age has worked with organisation for a very longer duration of time so it become the responsibility of organisation to make sure that such individuals are able to cope up with requirements of job which may and sometimes surely changes with time. Such as many times there is a need of some new skill to perform their existing job responsibilities in a better way. This means that it must never be made people or a employee that they are of no longer use to this organisation.
  • There is always a sense of insecurity which is present in every employee and this is a feeling which keeps on rising with growing age of a individual. This can be understood with example of that when age rises then working capacity reduces in some case may be because of age or sometimes because of health issues which are being faced by individuals who are on this stage of life, so by if they have not attained the age of retirement then it becomes responsibility of organisation that they have to make efforts that they should help the overall mindset of such employees very positive (Dahlan and Ibrahim, 2017).
  • Older age people in organisation are very useful assets for them this is a thinking which must be compulsorily developed with time by all the organisation as world is changing at a very rapid speed and same is case with mind set. There is a serotype which has also changes with time and now it is believed that it is mental nature of a person which makes them believe that they can work or not. Age does not matter and this can be observed in case of many successful entrepreneurs business managers who have worked up to attainment of older age also. So, it is recommended that employees must be made feel that they can work and if they posses competence level then they must be retained for a longer period in organisation. There is always a factor that experience and competence grows with age this has a connection with rising performance quality of every employee so from individual, societal and organisational point it becomes very important and at same time very necessary that all organisations have to consider this factor(Abyad, , 2015).
  • This is a surety that employees will grow with age but if they have been with the company with so many years then it becomes duty of employer that they are able to support individual who have achieved old age.Worried about assignment help? Take Expert's Help Now!

CONCLUSION

Above report is based on various changes which are taking place in a society and one of very crucial factor is growing age of people. Major two reasons behind this process is the declining of birth rates and also increase in life expectancy ratio of people. This has a very significant implication on every individual, society and organisation at same time. There are many factors which are related to aging and all the organisations are affected by such factors. Such factors have to be managed so that the functioning and operations are not getting affected.

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