MGMT 4340 Millennials & Previous Generations Essay
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
MGMT 4340 Millennials & Previous Generations Essay
In Lesson 4, Problem 1, you were asked to write a short essay defending some claim about which you felt strongly. Go back to this essay now and write a second paper in which you offer a critical assessment of your original argument, appealing to the methods of argument analysis
Original argument:
Problem #1
Millennials are out of their luck compared to previous generations
Millennials are those individuals who were born between 1981 and 1996.They are also commonly referred to as Generation Y. This age group largely comprises today’s workforce in all sectors. Compared with other generations, this generation was brought up uniquely under distinct conditions. They have experienced and have been the cause of paradigm shifts both in society and culture. They define a magnanimous change and, in some ways, can be considered to be the shifting point from an obscure world that held on to past ideals transitioning to a world more open to ideas, ways of thinking and what seems to be a brighter future with coming generations.
The life of millennials has been marred with both positive and negative factors. With the youngest millennials being well into adulthood, how do they compare to the preceding generation? Millennials are living in a time that was largely unfathomed by generation X. In comparison, Gen Y (millennials) are better educated than Gen X. They are more racially and ethnically accommodating and are gender fluid compared to their predecessors. This, however, might be a silver lining to an infinitely large cloud.
Millennials’ earnings haven’t had much change over the last 5 decades. And what’s worse is there is an exponentially large difference in the earnings of millennials who went to institutions of higher learning and those who did not. In comparison to previous generations, at the same age as millennials, there is an indication that predecessors had amassed more compared to millennials (Bialik & Fry, 2019). This might have to do with the fact that millennials inherited the economy after the great recession.
This generation entered the job market as the economy was struggling to recover from the great recession and the remnants of the effect of this great depression were still fresh. With an increasingly tougher economy, challenges keep arising at every turn. Unemployment levels were unprecedented and industry wages stagnated at best. This coupled with Millennials having to service huge amounts of debt taken out to get educated (Elliott & Reynolds III, 2015). This detrimentally affects the ability of this generation to pay back student loans taken out, resulting in negative credit scores and high default rates across this generation.
A research report conducted by economists attached to the Federal Reserve compared how millennials spent their income to previous generations (Thompson, 2018). It concluded that despite having similar spending patterns, millennials were less well-off compared to preceding generations. It was also established that they had comparatively less earnings and had amassed less wealth and assets compared to generations before, at the same age. This depressed rate of consumption in wealth indicative goods such as cars and houses points to the incapability of millennials to afford these commodities. This compounded on by rising the difference between commodity prices and income earnings which has nearly surged to a factor of 2 in various regions such as Florida, California and San Francisco (Thompson, 2018).
Millennials are quickly approaching middle age without experiencing economic booms previously enjoyed by previous generations. They are reaching optimal income earnings with current economic forces. There is however still some glimpse of hope for millennials. There are still some economic stimulating initiatives that could help individuals experience some modicum of economic relief if implemented.
Some ways in which the adversity facing millennials could be curtailed include, creating more opportunities for youth employment so that more millennials can gain access to meaningful employment. Secondly, cultivating inter-agency and industry relationships and having the state government, local government and industries collaborate in working with local communities. This will help to serve all stakeholder’s benefits as well as create an opportunity for various individuals at different levels. Lastly, in a bid to stimulate entrepreneurship, banks and financial institutions can extend credit facilities to the young generation with manageable repayment plans.
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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