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Survey: second generation rich, second generation thoughts

2009-10-20 12:02 BJT

"rich second generation" who belong to the "generation after the 80s" are the main targets of this survey, accounting for 98 percent. Of the targets, 70 percent are from only-child families and 80 percent are unmarried; 41 percent are members of the Communist Youth League, 45 percent are not Party or League members, 11 percent are members of the Communist Party and three percent are members of democratic parties.

Of the targets, 17 percent have a master's degree or above and 78 percent have a bachelor's degree. Of the majors that they studied, 59 percent are economic management and commerce, and second to them are majors of sciences, arts and technologies. While explaining the reason for their choice, the interviewees of the "rich second generation" all said they had considered the factor that they would take charge of their fathers' enterprises in future. That's the reason why so many of them chose to study economic management and commercial courses.

What we should pay attention to is that 52 percent of the targets have experience studying abroad. Of them, 43 percent studied in Europe and 22 percent studied in the US. From this data, we can see that the parents of the interviewees all put education in high regard.

They agree with their fathers' way to success, yet there exists a marked difference between the two generations' ideas

The "rich second generation" have their own view on their fathers' careers. According to them, "the sound environment created by the reform and opening up," "opportunities" and "proper management concepts" were among the three most important factors contributing to their fathers' success. In the interview, the majority of the interviewees attributed their fathers' success to their hard work and hardship endurance.

When asked "Is there any difference between the factors determining your future success and your fathers'," 72 percent of the interviewees gave a positive answer. And they were asked about the "differences from their fathers' success models," the answer "the changes which have taken place in the investment environment and background" got the most votes. And it was followed by "different management concepts due to different time periods" and "more technical input than before" in the second and third places respectively. With regard to the choice of "the biggest difference," "different management concepts" ranked the highest. And concerning "the second biggest difference," "changed investment environment" came out second.

According to the investigation, 49 percent of the interviews showed disagreement from their fathers' management ideas, but they still could effectively communicate with their fathers; 44 percent said that they basically agreed with their fathers' management ideas; and 4 percent and 3 percent held that they "quite agree" or "quite disagree" respectively.

This part of the investigation shares a similar result with the interview. Most interviewees' growing process is also the process of their fathers establishing their business. And the majority could sympathize with their fathers' hardships and hardworking in the entrepreneurial process. They also believed that hard work was indispensable to their future careers. The only difference was that compared with their fathers', they had an edge in the knowledge of the market economy and management standardization, which was related to their acquired education.

During the investigation and the interview, what we saw in the "rich second generation" was knowledge-based managers. Compared with their fathers, they were more cultivated. They could not only clearly understand the factors leading to their fathers' success, but also soberly realize their advantages over their fathers and their contemporaries.