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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (2534)	6/2/2019 1:58:21 AM
From: elmatador	Read Replies (1) \| Respond to of 13803

Elroy, I have witnessed in my professional life many instances where careers where fast tracked with terrible results. Not that involved deaths of people like fast tracking younger pilots careers, but also tragic and with loss of money. Fast tracking is required in two instances: 1) When there is a technology change from the old wave to the new wave. 2) When there is over investment In the case 1) the older generation of experience people are not enough to cope with the amount of work, therefore youngster are brought in. They, being youngsters, are full of confidence and drive and think they can do the impossible. Case in point the mobile networks taking over from the fixed networks from mid 90s to mid 2000's In the case 2) Over investment causes the salaries to go up and they eye a quick buck by engaging in the new field. This new field attracts all kinds of unexperienced people with the goal to make good money. Once the Internet took off, there was a dearth of people with enough computer skills, networking and communications. The younger people over populated computer science courses as the salaries were higher. Younger people are attracted to newness because they identify newer business models and technologies with their own youth. Newness is glamorous and increase the chances of picking up girls as girls chase younger men in higher salary jobs. Then they start screwing up. Case 1) is right here: With all the hoopla of 5G with thousands of youngsters salivating for the same amount of moolah doled out in the fixed to mobile move. It is not going to happen by the way. Case 2) is happening today right before our eyes with programming, AI, Machine learning which are nothing more that recycling and repackaging technologies of resulting from R&D of the late 80s. Youngsters soon after the initial glamour wears out, discover that technical professions, leads one to become an specialist. Once you specialize ina given technical field, you are in a dead end professional field. They then think they can advance their careers, by becoming managers. That is done in two levels Level 1) schools offer MBA for the guy to get the grips in the business side. Level 2) is a low level industry that profit from technical people who want to go into management. You can see how many certifications in the Project Management field blog.teamweek.com Learning something new is all good. Knowledge does not occupy space in our brains. There is always space fr more knowledge. But people think -erroneously- that they can come back, show the new papers they got to the managers and to HR and they will pay them a higher compensation. Fast trackig a career is nothing more than a short cut. Lazy guys do not want to learn by doing. They want instant gratification. Companies, whose top management fast tracked THEIR own careers thing that can be applied across the board.

To: Elroy Jetson who wrote (2534)	6/2/2019 2:33:20 AM
From: elmatador	Respond to of 13803

Demographics was not factored in. About 10,000 Baby Boomers turn 65 each day. A Baby Boomer is a term that denotes a person who was born between 1946 and 1964. The Baby Boomer represents nearly 20% of the public. Many of these retirees are in highly specialized professions that needs years of experience and training and as such difficult to replenish. Ex: Airline Pilots. Oil men. Mining workers. In many professions, such as White-Collar workers, is not difficult to replace. Many of them can be fast tracked. Many can be replaced by women, whom have always been a kind of reserve army to be brought in if the economy heats up. Quite a few professions can be replaced by software or made easier to be handled by unexperienced people and less expensive professionals, which is the case of fly by wire in airliners. The routine jobs which, quite a few, do not contribute to the output, as they were just people brought in to sort and tidy things up and for which processes can be made into a system. Example SAP that replaced many back-office workers. Then others that can be replaced by a box: ATM replacing bank tellers and such. There are a few industries like the mining and Oil & Gas, where highly paid resources are concentrated in the HQ and they need communications to be in contact to the areas where their expertise are required. And can make or break the operations of the company. I sell mobile solutions for mining, oil & Gas companies and got good insights about these industries. For instance, the rise of environmentalism put young people off fossil fuel industries and there aren’t enough people taking the jobs of the Oil&Gas retirees. Resources industries are extractive sectors and as such dirty and remote. They require costly training. Young people engage for the high pay and then try to extricate themselves from it. Investment in training is lost. Say Schlumberger train and send an engineer and technicians to somewhere in the middle of Iran and the guy can't take and resign to find a job that is urban not remote. MTN Irancell that I was building then. Total trained engineer and technicians and send them to the platforms off Angola coast just to discover they want to work inland. Four years of training lost as they came to Unitel to work in the mobile sector.