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Millennials

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Fatima Alshamsi

on 10 May 2013

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Transcript of Millennials

The median growth rate of poor countries has fallen over time... [and] that the decline in growth happened at the same time as the massive educational expansion in poor countries Unexpected results : Singapore and China vs. Zambia and Tanzania Millennials The Way Forward Human Capital CSR Social Media Education Conclusion INTERNATIONAL DEVELOPMENT Investing in Human Capital Has Education Failed? Investing in youth will provide an effective, sustainable dividend towards meeting development goals by building social capacity for long-term development. Introduction What is it/purpose:

While there is no official definition of international development, the term is used in a holistic way to examine the development of human beings and their quality of life. It covers governance, healthcare, education, poverty reduction, gender equality foreign aid, infrastructure, economics, human rights and the environment. Vision: We believe that youth-focused human capital investments on a global scale can be a catalyst for sustainably alleviating the high unemployment rate amongst youth globally,
and in turn spurring economic and social development. We are attempting to answer the following question(s):
How can the gaps in development be improved upon with a focus on millennial driven human capital investment? How can societies create, enable, and champion young people’s participation in local and global economies in a meaningful and dynamic way? How do we foster, nurture, and let flourish the capabilities of each young person in our society? Our aim is to show that with the right investments, developing countries can turn their large youth populations into a boon. Quality vs. Quantity Rethinking Education in
Development Moving Forward Major Shortcoming in looking at the relationship between education and GDP is that it measures "quantity"rather than "quality" - While education requires schools, it also needs:

students to be in class, motivated and able to learn… and...
they need teachers who are skilled [with] resources to teach, and...
those teachers need an incentive to instruct
It would seem logical that we are simultaneously evolving our educational system and the expectations of education as things change, yet we still stick to the same. Policy Recommendations Link education to social demand
Address constraints to schooling BEFORE focusing on enrollment
Address constraints to quality of schooling
Establish indicators/benchmarks for quality
Provide varied all-encompassing education (ICT/ vocational training/ health etc...)
Adaptable curriculum/programs
Use varied indicators to measure success
Get feedback from students/teachers/ community
Millennials, unlike most previous cohorts, actually have the means at their disposal:
overwhelming numbers;
unprecedented connectivity and access;
a sense of global community that transcends old boundaries; and...
a recognition that market forces can be the ally rather than the enemy of progressive change. Has Education Failed? Quality vs. Quantity Rethinking the Role of Education in Development Changing the Education Paradigm Power of Social Media: Real Power & Perceived Power New forms of civic participation and activism are now mainly peer-directed, peer-created and rely heavily on social media.

Social Media has:
facilitated mobilization of individuals for a cause and enhanced ability to undertake collective action
simplified sharing and accessing information
increased opportunities to engage in public speech
lowered costs of participation and organization
Given youth a way to make their voices heard Social Media and Activism Problems:
over simplification
unreliable source
simplistic solution
not home grown
not a local priority Case Study: Kony 2012 Additional Findings:

- Even though millennials are relatively more conscious of social causes that doesn't automatically translated into action
- For best results need to be used in conjunction with traditional media How to Harness the Technology for Change -Promote ICT skills
- Equip youth to be able to navigate/be critical of the information they receive
- Encourage internet networks to develop into real world get-togethers / communities
- Work to prevent censorship of social media tools Policy Recommendation: Outline 1. Introduction
2. Human Capital
3. Education
4. CSR
5. Social Media, Technology and Public Awareness
6. Conclusion and Q&A "We must distinguish between education and learning." -Charles Kenny Why Millennials? Globalization & Labor Pools Globalization & Labor Pools Investing in Human Capital Why Millennials? What Drives CSR? Challenges Facing CSR Youth & CSR What Drives CSR? Challenges Facing CSR Youth & CSR Although the number of primary school age children out of school has fallen from 108 million to 61 million since 1999 : African Youth Report 2011 highlighted "overemphasis on enrollment numbers rather than attendance and relevance of education" “A fifth of young people in developing countries – 200 million people aged 15 to 24 – fail to complete primary school and lack skills for work.” World Development Report 2007: “many, even those who reach lower secondary levels, can hardly read or write and are unprepared to cope with the practicalities of daily life. In several African countries, half or fewer of all young women ages 15-24 can read a simple sentence after three years of primary school…” Easterly concludes that failure comes from government and from not having the right structures in place to insure:

that the education provided is of a certain quality
that the education provided is worthwhile Commonly Held Assumption that an increase in education leads to an increase in a country’s GDP. Additionally In order to better gauge the quality and create the right incentives for education we need to think about whether we are educating youth for: a) the sake of learning (teaching them to be independent thinkers, giving them basic skills/tools that they can use to create their own future)
b) the sole purpose of molding future workers. Quality, also depends on social demands for education and its main constraints:

no resources to invest in quality education
no qualified teachers
no jobs for students
access to school In order to address quality shortage:

structural reforms
replace economic emphasis with "human development" perspective (education tied to other social/individual goals) "People cannot be separated from their knowledge, skills, health, or values in the way they can be separated from their financial and physical assets."
- Gary Becker Economies are (in part) shaped through their relationships with other economies.
• Flooded Labor Pool of Low-Skilled Workers
• More Competition
• Capacity Vacuum
Does the world need low-skilled workers?
• Those left out need new skills for new jobs
• No, really. It’s imperative that laborers acquire new skills. Need to recognize that education is only ONE tool
used for the purpose of development: Current education systems
not broken; just obsolete. Moving Forward What is the Purpose of School? "There are three forces … reshaping the world of the 21st century; youth, ICT, and entrepreneurship.”
- Rob Salkowitz, Young World Rising Millennials consider people empowered by social media a greater agent of change than politics by a margin of more than two to one.

In addition:

61% of Millennials consider social media the “new power of youth.”

70% consider social media a force for change. Human resources constitute the ultimate basis for the wealth of nations.
• Capital and natural resources are passive factors of production
• Human beings are active factors of production The world’s marketplace is always changing.
•Competitive advantage within the fickleness of the market rather than outside
•Cost-benefit analysis is going to be relatively comparable Takeaways:
activists have greater ability to bring issues to the public
dangers of digestible media-sized bites leads to an incomplete analysis of the issue
youth as target audience Seldom do established corporations become the pioneers of change themselves.
•The (often overlooked) driving force behind real change is the people
•Now more than ever human capital affords corporations the opportunity to really differentiate themselves from the competition Our own experience : Education, training, and health are the most important investments in human capital
• None of which show a direct tangible return for a corporation
• We don’t have to continue isolating individual and corporate benefits
• What is good for you, is good for me Limited data on how organizations' use of social media can achieve specific goals

Case Study - "Every Child is Yours" Campaign:

Purpose was to educate and mobilize the community on the issue of child abuse
Used Blogs, Facebook, Twitter
Directed at "Millennials" because: Results:

1) different patterns across the platforms
Blog only partial success
content on Facebook and Twitter that attracted the most attention were contests and promotional activities

2) factors positively related to behavioral outcomes were:
- frequency of social media use
- interactivity
- perceived campaign credibility
- emotional engagement Corporations are beginning to realize this concept

•Establishment of B-Corporations & CSR initiatives

•What exactly is a corporation? Age segment found to be more open to engage with social media
tech-savvy
Open-source and crowd-source oriented
Supportive of progressive social agenda
Pragmatic about solutions to social problems "Ultimately, the focus has to be on what life we lead and what we can or cannot do, can or cannot be. " -Amartya Sen Millennials are the future:

• Pedigree

• Shift in priorities Entrepreneurial spirit:

•Aversion to the typical 9-5

•Access to broadband services This is why it is essential to change how we measure success and not tie it solely to economic variables. •Environmental Protection

•Employee Well-being

•Community

•Financial Responsibility

•Consumers becoming more concerned with the morality and ethical practices of companies they associate with. "the quality of education will be different in an economy with incentives to invest in the future versus an economy where there are none.” -William Easterly And... the campaign gained millions of followers
trending on twitter
white house and pentagon released a statement
made front page of major news outlets Emerging Market (EMEs) & developing economies represent the world’s largest economies in terms of human capital potential.

•Difficult to navigate

•Indicators

•Government Involvement

•Green Washing Youth are crucial stakeholders in the pursuit of global, social, and economic development. In the age of the internet, (the digital age) youth are ever more active participants in the collective global society in addition to representing the future global workforce. “Creating a strong business and building a better world are not conflicting goals – they are both essential ingredients for long-term success.”
–William Clay Ford Jr. Fatima AlShamsi & Chris Pinderhughes
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