Benefits Essay Example | Topics and Well Written Essays - 1500 words

Benefits - Essay Example The revelation in the current time is vital for policy makers as well as the baby boomers as if prepares them adequately before the financial challenges expected in their golden years (Dominguez, 2011). Primarily, the overseeing trustees have called upon the Congress to look into the issues and implement changes necessary to curtail future â€Å"disruptive consequences†. Although current scheduled financing is anticipated to be sustainable for the projected long-run program costs, disruptive consequences for taxpayers and beneficiaries can be avoided entirely through legislative corrections. Motivated and willing leaders should be charged with this legislation which is critical considering the over 105 million beneficiaries of both Social Security and Medicare programs. Laws and Concepts Provision of government-mandated benefits through Medicare for the aged and Social Security for the general public derives its funding through budgetary allocations. Deductions made on salarie s of the employed and income contributes greatly to the provisions of such benefits; up to the amount allocated by the legislators in congress. Consequently, the report by Dominguez exposes the pitfalls lying in wait for the Medicare and Social Security programs. As such the report serves to hasten the speed at which Congress pushes for changes in the federal budget to raise the $14.3 trillion federal debt. Despite the push to beat the deficit target set for Aug 2, prepositions for privatization of Medicare have been sounded by the Republicans. This way, older Americans will be offered a subsidy to purchase coverage from private insurers. That notwithstanding, the Democrats’ backing of an overhaul sought to extend the life of Medicare would still necessitate immediate action to allow for options and time to phase in changes that will adequately prepare the affected (Turner, 2010). Recommendations Considering the pitfalls plaguing the government-mandated benefits, planning is paramount in the subsectors of the business community. For instance, the perceived challenges resulting from the sagging economy and aging population will not only affect the future financing of benefits, but also various sectors of the business community. Of greater concern are the effects of mandated benefits which include paying lower wage for employed labor, having catered for their mandated benefits. As such, the employee will be motivated to work even at lower wages because mandated benefits are guaranteed for working (Weerapana, 2009). Additionally, leaders elected into key legislative roles should be vetted as willing and able to push for necessary laws and policies. Otherwise, leaders that are likely to undermine the pillars of health and financial security should not be entertained. Healthcare Programs Summary According the article â€Å"Medicare, Medicaid, CLASS in crosshairs of 'Gang of Six' deficit plan†, Anderson (2011), points out the plan by a group of senator s to reduce the federal deficit that is feared might significantly cause cuts in government healthcare programs. The reductions, anticipated to occur over a 10 year period would require the Senate Finance Committee to find a $500 billion in healthcare spending. The elimination of the Community Living

Global Competitiveness Assignment Example | Topics and Well Written Essays - 750 words

Global Competitiveness - Assignment Example Being competitive in respective career may translate to the company’s competitiveness and then to the country’s competitiveness globally as well. Definition Meredith and Shafer (2010) defined competitiveness in several ways. First, competitiveness is the firm or organization’s long term viability. Second, it may be contextually viewed as the current success of a firm in the marketplace measured by profitability and market share. Lastly, competitiveness of a nation may be seen in its aggregate success in all markets. Thus, global competitiveness is the current and aggregate success plus long term viability in the over-all market. According to the US President’s Council on Industrial Competitiveness (1985) and cited by Meredith and Shafer (2010), competitiveness for a nation is the degree in which it can produce goods and services that meet international standards while maintaining income of the citizens. Aspects considered under competitiveness globally inc lude operations, management, customer value and various strategies and approaches essential in the market (Meredith & Shafer, 2010). ... It is me giving the edge as a sales representative for the clients and the company as well. Global competitiveness is St Jude Medical offering products of high quality but with competitive price compared to similar health care products provided by other manufacturers not only in the US but also around the world. It would not be all about the monetary aspect but competitiveness globally would also include holistic development of the company. It is fulfilling St. Jude Medical’s mission of sustainability focus thereby having the opportunity to connect business processes and human capital in conjunction with economic growth, production of safe and reliable products, plus social and environmental responsibilities. Global Competitiveness in My Career As a sales representative of St. Jude Medical, global competitiveness means assuring customers of good quality products, constantly innovating and by having focus on the company’s core capabilities. These activities would not onl y make me competitively in terms of career but would also contribute to St Jude Medical’s competitiveness and also the country as well. First, customer satisfaction must always be guaranteed by having quality medical products and giving customers what they want. As stated by Kinaxis Corporation (2009), because of the internet and the social media as well, the customers are now more empowered to get what they want. Also, before offering the product, I must assure myself that the product conforms to certain standards like what Schonberger (n.d.) compiled as a list of multiple quality dimensions that customers associate with products (as cited by Meredith & Shafer, 2010).