Millennials refer to individuals

Why are Millennials are reluctant to buy a house?

28. Millennials prefer drinks over beers. A: popular B: keen C: pleased D: trendy

7. What can we learn from MassMutual' s study? A: Compared to travel, retirement security is dreamt by more Millennials. B: Self- employment is cited as part of the dream by some Millennials. C: Most Millennials view travel as part of the American Dream. D: None of Millennials select home ownership as part of the American Dream.

All researchers agree that close to 25 billion devices, things and sensors will be connected by 2020 which incidentally is also the moment that Millennials (千禧一代)are expected to make up 75 percent of our overall workforce, and the fully connected home will become a reality for large numbers of people worldwide. (CET6-2016.12)

Urbanization—migrationawayfromthesuburbstothecentralcity—willbethebiggestrealestatetrendin2015,accordingtoanewreport.ThereportsaysAmerica’surbanizationwillcontinuetobethemostsignificantissueaffectingtheindustry,ascitiesacrossthecountryimitatethewalkabilityandtransit-orienteddevelopmentmakingcitieslikeNewYorkandSanFranciscososuccessful.Assmallercitiescopythemodelofthese“24-hourcities”,moreaffordableversionsoftheseplaceswillbecreated.Thereportreferstothisasthecomingofthe“18-hourcity”,andusesthetermtorefertocitieslikeHouston,Austin,Charlotte,andNashville,whichare“positioningthemselvesashighlycompetitive,intermsoflivability,employmentofferings,andrecreationalandculturalamenities.”Anothertrendthatlookssignificantin2015isthatAmerica’slargestpopulationgroup,Millennials(千禧一代),willcontinuetoputoffbuyingahouse.ApartmentswillretaintheirappealforawhileforMillennials,hauntedbywhathappenedtohome-owningparents.Thistrendwillcontinueintothe2020s,thereportprojects.Afterthat,surveyrespondentsdisagreeoverwhetherthisgenerationwillfollowintheirparents’footsteps,movingtothesuburbstoraisefamilies,orwillchoosetoremainintheurbancore.Thesurveyprojectsthatthispopulationcohortwillevolveandsegmentovertime,andwarnsagainstpaintingthegenerationwithtoobroadabrush.AnotherissueaffectingrealestateinthecomingyearwillbeAmerica’sfailinginfrastructure.Mostroads,bridges,transit,watersystems,theelectricgrid,andcommunicationsnetworkswereinstalled50to100yearsago,andtheyarelargelytakenforgranteduntiltheyfail.Thereport’swritersstatethatAmerica’sfailuretoinvestininfrastructureimpactsnotonlythehealthofthereal-estatemarket,butalsoourabilitytoremaingloballycompetitive.Apartfromthespecifictrendshighlightedabove,whichcausesomeinvestorstoworry,thereportportraysanoveralloptimismbornebytherecenthealthyreal-estate“upcycle”andimprovingeconomy.Seventy-fourpercentoftherespondentssurveyedreporta“goodtoexcellent”expectationofreal-estateprofitabilityin2015.Whileexcessiveoptimismcanpromotebadinvestmentpatterns,resultinginareal-estate“bubble”,thereport’swritersdownplaythatpotentialoutcomeinthatithasnotyetoccurred.SomerespondentstotheEmergingMarketssurveycalltheurbanizationtrend“oversubscribed”,andthereportconcedesthattheredoexistsomeedgecitiesandsuburbswithpromise.Buttheseplacesarefewandfarbetween.Themostsuccessfulplacesarethosebuiltusingurban-designprinciples—withdensity,walkability,andgoodtransit.Real-estateinvestorsin2015needtopayattentiontothetwomainconclusionofthereport:ifapropertyresemblesorreliesuponsprawlinanyway,ordoesn’tappealtoMillennials,thinkbeforeyouinvest.

Directions:Inthissection,youaregoingtoreadapassagewithtenstatementsattachedtoit.Eachstatementcontainsinformationgiveninoneoftheparagraphs.Identifytheparagraphfromwhichtheinformationisderived.Youmaychooseaparagraphmorethanonce.Eachparagraphismarkedwithaletter.Answerthequestionsbyfillingthecorrespondingletter. Teamspirit [A]Teamshavebecomethebasicbuildingblocksoforganizations.Recruitmentadvertisementsroutinelycallfor“teamplayers”.Businessschoolsgradetheirstudentsinpartontheirperformanceingroupprojects.Officemanagersknockdownwallstoencourageteambuilding.Teamsareasoldascivilization,ofcourse:evenJesushad12co-workers.ButanewreportbyDeloitte,“GlobalHumanCapitalTrends”,basedonasurveyofmorethan7,000executivesinover130countries,suggeststhatthefashionforteamworkhasreachedanewhigh.Almosthalfofthosesurveyedsaidtheircompanieswereeitherinthemiddleofrestructuringorabouttoembarkon(开始）it;andforthemostpart,restructuringmeantputtingmoreemphasisonteams. [B]Companiesareabandoningconventionalfunctionaldepartmentsandorganisingemployeesintocross-disciplinaryteamsthatfocusonparticularproducts,problemsorcustomers.Theseteamsaregainingmorepowertoruntheirownaffairs.Theyarealsospendingmoretimeworkingwitheachotherratherthanreportingupwards.Deloittearguesthataneworganisationalformisontherise:anetworkofteamsisreplacingtheconventionalhierarchy(等级体制). [C]Thefashionforteamsisdrivenbyasensethattheoldwayoforganisingpeopleistoorigidforboththemodemmarketplaceandtheexpectationsofemployees.Technologicalinnovationplacesgreatervalueonagility(灵活性).JohnChambers,chairmanofCiscoSystemsInc.,aworldwideleaderinelectronicsproducts,saysthat“wecompeteagainstmarkettransitions(过渡)，notcompetitors.Producttransitionsusedtotakefiveorsevenyears;nowtheytakeoneortwo.”Digitaltechnologyalsomakesiteasierforpeopletoco-ordinatetheiractivitieswithoutresortingtohierarchy.The“millennials”(千禧一代)whowillsoonmakeuphalftheworkforceinrichcountrieswereraisedfromnurseryschoolonwardstoworkingroups. [D]Thefashionforteamsisalsospreadingfromtheusualcorporatesuspects(suchasGEandIBM)tosomemoreunusualones.TheClevelandClinic,ahospitaloperator,hasreorganiseditsmedicalstaffintoteamstofocusonparticulartreatmentareas;consultants,nursesandotherscollaboratecloselyinsteadofbeingseparatedbyspeciality(专业)andrank.TheUSArmyhasgonethesameway.Inhisbook,“TeamofTeams'GeneralStanleyMcChrystaldescribeshowthearmy'shierarchicalstructurehindereditsoperationsduringtheearlystagesoftheIraqwar.Hissolutionwastolearnsomethingfromtheinsurgentsitwasfighting:decentraliseauthoritytoself-organisingteams. [E]Agoodruleofthumbisthatassoonasgeneralsandhospitaladministratorsjumponamanagementbandwagon,itistimetoaskquestions.LeighThompsonofKelloggSchoolofManagementinIllinoiswarnsthat,‘Teamsarenotalwaystheanswer—teamsmayprovideinsight,creativityandknowledgeinawaythatapersonworkingindependentlycannot;butteamworkmayalsoleadtoconfusion,delayandpoordecision-making.”ThelateRichardHackmanofHarvardUniversityonceargued,“Ihavenoquestionthatwhenyouhaveateam,thepossibilityexiststhatitwillgeneratemagic,producingsomethingextraordinary...Butdon'tcountonit.” [F]Hackman(whodiedin2013)notedthatteamsarehamperedbyproblemsofco-ordinationandmotivationthatchipawayatthebenefitsofcollaboration.High-flyersforcedtoworkinteamsmaybeundervaluedandfree-ridersempowered.Groupthinkmaybeunavoidable.Inastudyof120teamsofseniorexecutives,hediscoveredthatlessthan10%oftheirsupposedmembersagreedonwhoexactlywasontheteam.Ifitishardenoughtodefineateam'smembership,agreeingonitspurposeisharderstill. [G]Profoundchangesintheworkforcearemakingteamstrickiertomanage.Teamsworkbestiftheirmembershaveastrongcommonculture.Thisishardtoachievewhen,asisnowthecaseinmanybigfirms,alargeproportionofstaffaretemporarycontractors.Teamworkimproveswithtime:America’sNationalTransportationSafetyBoardfoundthat73%oftheincidentsinitscivil-aviationdatabaseoccurredonacrew’sfirstdayofflyingtogether.However,asAmyEdmondsonofHarvardpointsout,organisationsincreasinglyuse“team”asaverbratherthananoun:theyformteamsforspecificpurposesandthenquicklydisbandthem. [H]Theleastthatcanbeconcludedfromthisresearchisthatcompaniesneedtothinkharderaboutmanagingteams.Theyneedtoridtheirmindsofsentimentalism(感情用事)：themostsuccessfulteamshaveleaderswhoareabletosetanoveralldirectionandtakeimmediateaction.Theyneedtokeepteamssmallandfocused:givingintopressuretobemore“inclusive”isaguaranteeofdysfunction.JeffBezos,Amazon’sboss,saysthat“IfIseemorethantwopizzasforlunch,theteamistoobig.”Theyneedtoimmunizeteamsagainstgroup-think:Hackmanarguedthatthebestonescontain“deviants”(离经叛道者）whoarewillingtodosomethingthatmaybeupsettingtoothers. [I]Anewstudyof12,000workersin17countriesbySteelcase,afurniture-makerwhichalsodoesconsulting,findsthatthebestwaytoensureemployeesare“engaged”istogivethemmorecontroloverwhereandhowtheydotheirwork―whichmaymeanliberatingthemfromhavingtodoeverythingincollaborationwithothers. [J]However,organisationsneedtolearnsomethingbiggerthanhowtomanageteamsbetter:theyneedtobeinthehabitofaskingthemselveswhetherteamsarethebesttoolsforthejob.Teambuildingskillsareinshortsupply:Deloittereportsthatonly12%oftheexecutivestheycontactedfeeltheyunderstandthewaypeopleworktogetherinnetworksandonly21%feelconfidentintheirabilitytobuildcross-functionalteams.Looselymanagedteamscanbecomehotbedsofdistraction―employeesroutinelycomplainthattheycan'tgettheirworkdonebecausetheyareforcedtospendtoomuchtimeinmeetingsorcompelledtoworkinnoisyoffices.Evenintheageofopen-planofficesandsocialnetworkssomeworkisbestlefttotheindividual. 1.Successfulteamleadersknowexactlywheretheteamshouldgoandareabletotakepromptaction. 2.Decentralizationofauthoritywasalsofoundtobemoreeffectiveinmilitaryoperations. 3.Inmanycompanies,theconventionalformoforganizationisgivingwaytoanetworkofteams. 4.Membersofpoorlymanagedteamsareeasilydistractedfromtheirwork. 5.Teamworkismosteffectivewhenteammemberssharethesameculture. 6.AccordingtoareportbyDeloitte,teamworkisbecomingincreasinglypopularamongcompanies. 7.Someteammembersfindithardtoagreeonquestionslikemembershipandtheteam'spurpose. 8.Somescholarsthinkteamworkmaynotalwaysbereliable,despiteitspotentialtoworkwonders. 9.Toensureemployees'commitment,itisadvisabletogivethemmoreflexibilityastowhereandhowtheywork. 10.Producttransitionstakemuchlesstimenowthaninthepast.