Word by Word Definitions
: a body of living beings constituting a single step in the line of descent from an ancestor
: a group of individuals born and living contemporaneously
: a group of individuals having contemporaneously a status (such as that of students in a school) which each one holds only for a limited period
: a break in a barrier (such as a wall, hedge, or line of military defense)
: an assailable position
: a mountain pass
: to make an opening in
: to adjust the space between the electrodes of (a spark plug)
: to fall or stand open
Financial Definition of GENERATION GAP
What It Is
A generation gap is a difference in philosophies between generations.
How It Works
This generation gap was clearly evident in the rapid evolution of music during the 1950s and 1960s, when rock music, the Korean conflict and the Vietnam war forced many of America's young people to question many basic values. The beginnings of the women's movement, civil rights and the growth in birth control reinforced the baby boomers' controversial sense of self-determination that changed the course of the next several decades.
Why It Matters
Generation gaps happen all the time. In the business world, understanding them is crucial because without knowledge of how a market thinks, it is much harder to provide goods and services that fit needs and lifestyles.
Seen and Heard
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