Memorandum Business Plan

In the conditions of today’s market economy, managers have crucial influence on the success and prosperity of each separate enterprise. That is why it is essential for managers to be continuously concentrated on personal development and enhancement. However, Carol Hymowitz in the article titled “Baby Boomers Seek New Ways To Escape Career Claustrophobia” and written in 2003 for The Wall Street Journal, claims that numerous of managers, because of being “baby boomers” and, thus, fated to deal with extreme competition at the workplace, do not see opportunities for promotion and “feel underutilized and stuck in jobs” (Hymowitz, 2003). As mentioned managers feel such a desperation regarding their future career prospection much earlier than their retirement is going to become started, the quality of their work might considerably decrease. Due to this, it is highly significant for the companies’ leaders to create sufficient stimulus for “baby boomers,” on the one hand, and for the managers, instead of complaining about being undervalued, to reconsider their condition and make efforts to fight for their place under sun. To become more acknowledged with the steps which are needed to be performed by companies’ leaders and managers, the following recommendations are provided.
At the same time, every manager needs to understand that his or her destiny is exceptionally in their hands, and it is vital for them always o have dreams and exactly defined aims and to persistently put serious efforts for achieving sustainable goals in any sphere of their life, in particular, in career development. If the manager feels to be underutilized, here are the steps which he or she should follow. First, it is essential for such managers to assess critically the situation which is characteristic for them at the workplace. Secondly, in case the feeling of being undervalued appears to be substantiated, the manager should define clearly the goals he or she might prefer to achieve at the workplace, instead of remaining “stuck in job.” After this, some managers, if they feel the action is appropriate for them, can make an attempt to communicate with their superior concerning the possibility of becoming promoted. Those managers who realize that there is, currently, no sense to ask their superiors about help or advice, need to take initiative in their hands by taking on their own certain new challenging responsibilities and task, convincing their superiors in the ability to make something more remarkable, difficult, and fascinating, and, as a result, achieving such a wishful promotion.
Hope my recommendations will be helpful,

References

Hymowitz, C. (2003). Baby Boomers Seek New Ways To Escape Career Claustrophobia. The Wall Street Journal. Retrieved from http://www.wsj.com/articles/SB105639321511364900.
Neault, R., & Pickerell, D. (2011, May 10). 10 Tips for Career Development. Retrieved from http://www.hrvoice.org/10-tips-for-career-development/.