Hi, my nama is Sylwia and I will be looking at Generation Y also known as Millennial Generation. Most common range reflects births from 1980-1999. Simply stated, generational theory explains that the era in which a person was born affects the development of their view of the world. Our value systems are shaped in the first decade or so of our lives, by our families, our friends, our communities, significant events and the general era in which we are born.