Future business leaders must prepare for the “demographic revolution.”
That advice comes courtesy of Rick Rieder, second speaker in the 2015-2016 MBA Executive Speaker Series and BlackRock's Chief Investment Officer of Fundamental Fixed Income.
Rieder, who presented to an audience of Feliciano School of Business MBA students, faculty and alumni spoke extensively about the impact of our aging population and its effect on the global economy.
“When a country’s population ages too quickly more people draw than contribute, which causes a drag on the economy,” said Rieder, who also is co-head of Americas Fixed Income and a member of the Executive Committee of the firm-wide Alpha Strategy business, BlackRock's Global Operating Committee and Chairman of the BlackRock Investment Council. “We are moving from a commodity and manufacturing economy to a service economy.”
To achieve success during this transition, Rieder said staying ahead of the curve – especially new innovations and technology – is imperative.
When it comes to social media and tablet devices, for example, he points to a rapid user adoption rate of seven to 10 years, which is decades ahead of the 30 to 70 years previous technologies – including radios, telephones and televisions – required to take root.
These rapid adoptions can negatively impact sales of traditional technologies, said Rieder, citing the rise of smart phones with the decline of camera sales.
Students in attendance called Rieder’s presentation “eye-opening.”
“Mr. Rieder gave us a perspective on the changing economy and the drivers behind it,” one student said.
The next MBA Executive Speaker presentation is scheduled for February 25, 2016. The speaker will be David Levin, Chief Exective Officer of McGraw-Hill. For more information on the Feliciano School of Business MBA program, please visit business.montclair.edu/mba
Event photos can be viewed on our Flickr channel.