Whether, it is health, political, social or cultural issues, it seems the older generation always forgets they were disobedient and rebellious too, in their youth. Generation gap would not be that serious a problem if families learn to sit over dinner and amicably settle things by ironing out differences and sharing experiences. Family outings, vacations, tours, picnic-outings could be effective ways to initiate intimacy between parents and children. Watching movies and discussing them, putting forth different viewpoints can be a beginning to inculcate the habit of a healthy dialogue between members of the family. Such small things and steps can do wonders in initiating a healthy family atmosphere and reducing friction between two generations that are both right from their perspectives. Their only folly is that they are viewing the same thing from opposite directions. Age, time and experience or the lack of it, forces them to do so. The purpose of this article is to identify the existing types of generations, the major differences in opinions of various generations and where do these differences come from, and how they affect the business area.