<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The main purpose of this paper is to assess a possible impact millennials will have on the future business environment of Industry 4.0, based on their personal value orientations. Millennials are taking over important roles in organizations, but their personal values are significantly different from those of older generations. This paper shows that, based on the Schwartz’s value survey with <italic>N</italic>=371 Slovenian respondents, millennials are in general more inclined toward values connected to personal growth and freedom from anxiety, emphasizing self-transcendence and openness to change, than toward self-protection and anxiety avoidance, understating conservation and self-enhancement values. These cognitions can have significant implications in shaping the future business environment of Industry 4.0, as it can become more open, understanding, collaborative, accepting, and generally more supporting, thus creating the evident millennials’ effect. Even though millennials are in general well prepared for the future business environment, organizations will have to, in order to retain the millennials, reshape their current organizational environment to better reflect the millennials’ views.</p></abstract>

The main purpose of this paper is to assess a possible impact millennials will have on the future business environment of Industry 4.0, based on their personal value orientations. Millennials are taking over important roles in organizations, but their personal values are significantly different from those of older generations. This paper shows that, based on the Schwartz’s value survey with N=371 Slovenian respondents, millennials are in general more inclined toward values connected to personal growth and freedom from anxiety, emphasizing self-transcendence and openness to change, than toward self-protection and anxiety avoidance, understating conservation and self-enhancement values. These cognitions can have significant implications in shaping the future business environment of Industry 4.0, as it can become more open, understanding, collaborative, accepting, and generally more supporting, thus creating the evident millennials’ effect. Even though millennials are in general well prepared for the future business environment, organizations will have to, in order to retain the millennials, reshape their current organizational environment to better reflect the millennials’ views.

The Millennials’ Effect: How Can Their Personal Values Shape the Future Business Environment of Industry 4.0?

Naše gospodarstvo/Our economy

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The main purpose of this paper is to assess a possible impact millennials will have on the future business environment of Industry 4.0, based on their personal...

The Millennials’ Effect: How Can Their Personal Values Shape the Future Business Environment of Industry 4.0?

Published Online: Mar 29, 2019

Page range: 57 - 65

Received: Nov 01, 2018

Accepted: Feb 01, 2019

DOI: https://doi.org/10.2478/ngoe-2019-0005

Keywords
millennials, Industry 4.0, personal values, predicting business environment, business ethics, digitalization, Schwartz value survey

© 2019 Rok Črešnar et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

The Millennials’ Effect: How Can Their Personal Values Shape the Future Business Environment of Industry 4.0?

Published Online: Mar 29, 2019

Page range: 57 - 65

Received: Nov 01, 2018

Accepted: Feb 01, 2019

DOI: https://doi.org/10.2478/ngoe-2019-0005

Keywordsmillennials, Industry 4.0, personal values, predicting business environment, business ethics, digitalization, Schwartz value survey

© 2019 Rok Črešnar et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Keywords
millennials, Industry 4.0, personal values, predicting business environment, business ethics, digitalization, Schwartz value survey