Dear Ashish,
For every individual, how to stay "relevant" is a challenge. For this one has to upgrade himself or herself constantly. "Pyramid" always gets narrow at the top. Therefore, the competition gets tougher at the top than they should have understood while they were at the base of this pyramid i.e. during their youth. My observations about middle-aged persons are as below:
a) Many of them did not upgrade their knowledge beyond their technical or functional sphere. Business runs on finance. Many do know the basics of finance. On the contrary, those who were in finance never tried to understand the operations.
b) They relied on their company to grow. They did not invest even 5% of their earnings the learning.
c) Many of them lack soft skills that they should have developed long ago. The way they speak or carry themselves is incompatible with their position. Many top executives are unable even to write a single-page business letter on their own!
d) For many of them computers are glorified typewriters. Though they brandish their smartphones, they just use the basic features of the mobile phone i.e. talking. Computers or laptops or smartphones are the instruments that help improve their personal productivity they do not understand.
e) Many of them did not plan their career during their youth. As said earlier, how to stay relevant is a perennial challenge. They should have read Marshall Goldsmith's famous book "
What Got You Here Won't Get You There: How Successful People Become Even More Successful" long ago.
f) Famous company Microsoft has been coming up with an upgraded version of their product i.e. Windows. What do you think without newer and newer versions of Windows, could Microsoft stay relevant? Today, notwithstanding all this Google is challenging its very existence. The same thing happens to us also. We have to upgrade constantly.
g) Next is that many of them are yet to come to the terms of changed social or economic scenario of the 21st century. They behave as if they are in the 20th century. They continue to gloat over past achievements. These achievements were relevant during those times but not any longer.
Lastly, it is also one's fate. About 1-2 years ago Google acquired Motorola at a hefty price of 12.5 billion USD. After the acquisition, Google declared in last October that it will lay off 4,000 employees. In the last month, it declared it will lay off 1,200 more employees.
Google had paid far higher value than market value to Motorola for its patents. After all who developed those patents? Motorola employees. Now, these very employees may find that after acquisition they are being laid off! Do you think Google will show mercy to these employees because they developed patents? No way!
Ashish, tomorrow if you were to start the business, you will also weed out effete employees. One's thinking depends on which side of the fence one is.
Ok...
Dinesh Divekar