Managing an entire enterprise requires a high level of expertise and experience therefore we often see business leaders are in their middle age or beyond. Although younger generations are generally more energetic and innovative compared to their older counterparts, I believe that such important positions should be placed in the hand of the latter.
On the one hand, most of young leaders nowadays have tertiary qualifications, great enthusiasm yet lack of necessary experiences. This explains the reason behind first-business failures among many newly established companies. Organisational experience is best obtained by having more exposure to different economic stages; therefore being older is truly an advantage in this instance. For example, Mr Ralph Norris – CEO of the Commonwealth Bank of Australia, who was born in 1949 and did not attend university, saved his giant banking organisation from collapsing during the unforgettable Global Financial Crisis in 2008 while countless amount of others around the globe did not survive.
On the other hand, older company directors have a more extensive set of leadership skills, such as communication and problem solving in comparison with younger ones. Undoubtedly, the longer time they involve in business the more people they have to interact with, hence better understanding of the human aspect, which in turn enable them to efficiently run their firms. Additionally, having to face with organisational incidents everyday, whether positive or negative, helps them to be more effective when dealing with such situations if they arise. To illustrate, though Steve Jobs’ management style is not textbook perfect yet is “one of the greatest strategists of all times” and has created one of the world’s best workplace we have today.
In conclusion, while no one should deny the fact that young leaders are more dynamic and thirsty for success, it is more reasonable for the older ones to lead companies because of the rich experience and a wide range of business-related skills that they possess.