Vanishing Middle Class: Implications for Management and Business
The middle class person belongs to a social group that falls between the upper and the lower working class, speaking in terms of socio –economic factors. The degree of socio-economic factors varies from one country to another and differs significantly. However, it is seen that, in most parts of the developed world, the middle class has slowly and steadily started to vanish. The issue of vanishing middle class is primarily related to the business, the reasons for this are:
- In countries such as America and UK, several workers are struggling to survive, as rapidly changing markets and technologies ...