Generation Y or the “Internet Generation” will dramatically change every aspect of your business in the next five years!
Change will be constant, rapid and revolutionary. Want proof?
First, the Massachusetts Institute of Technology is putting all of their 1,500 courses on the Internet. MIT believes that the “dissemination of knowledge and information can open new doors to the powerful benefits of education for humanity around the world.” That means students, educators and self-learners will be able to audit these courses when and where they want.
Second, Bob Lutz, General Motors Vice Chairman, has a blog to communicate directly with his customers. It is an invaluable way to get important information out to the market. It is also a vehicle for timely and accurate feedback. Other GM executives are setting up blogs to talk directly to and get information from their employees. By comparison, Microsoft has over 1,500 customer and employee blogs.
Third, YouTube is an Internet overnight success story. It allows people to upload and share videos over the Internet. To date they have 100 million videos on their site and receive another 65,000 per day. The company was founded in February 2005, and was never profitable. Yet, Google understood the potential of their technology and purchased the company nineteen months later for $1.65 billion.
» Read more: Are Your Managers Ready for Generation Y Employees?