Social Security Programs Research Paper Example | Topics and Well Written Essays - 750 words

Social Security Programs - Research Paper Example This was meant actually to ensure the retirees had some money at their disposal so as to ensure cash flow which would in turn stimulate the economy. In addition he also wanted this program to be an income supplement. This was also supposed to ensure that most people especially the old and disabled were to be entitled to a social security insurance program especially those who were of the aged (Dilnot, 1989). Over the past year there has been much to say about the social security fund though most talks don’t seem to be very appealing. The truth of the matter is the Us government is really having it rough now as far as the social security fund is concerned since the dependants today compared to the time when this project was initiated has rose by millions. In the coming 2-3decades this fund will be practically impossible to run and offer the citizens of US that social security it was intended for (Sacks, 2000). One major blow to the social security fund is the fact that the group of beneficiaries have been increased over time from just the elderly and disable to the spouse or minor children of a retired workers and another benefit was also included for the family of a worker who has dead prematurely. Now if you put together these facts together with the fact that Americans are living longer then this is a big blow to the success of this fund in the coming years (Sacks, 2000). According to the additional views by the Senator Robert J. Dole, the long term deficit that will be in the non-medical social security program translated to 1.8% of the taxable payroll. when one On closely looking at the projections of the actuaries, in the next 75years the benefits of this program shall be very challenging to payroll tax income translating to about $25 billion per year in deficit. This deficit is seen practically a big problem to the success of the social security fund and if not addressed this program has a very terrible

Strategic marketing planning as an Essential Marketing Tool Essay

Strategic marketing planning as an Essential Marketing Tool - Essay Example Strategic Marketing Planning Strategic marketing plan is a â€Å"management process leading to a marketing plan† (McDonald, 2008, p.7). It is a systematic approach by managers that includes the written or detailed plan of the current status of the company, its goals, and how to attain it. The company obtains information about the mission statement and corporate objectives; analyses the financial performance of the company through the marketing audit; reviews the strength, weaknesses, opportunities, and threats; forecasts the marketing impact; sets marketing objectives and strategies; estimates the anticipated outcome; classifies alternative plans and mixes; and projects the budget needed. Marketing planning is essential for business establishments that aim to gain competitive advantage, which is limited to establish brand, build, defend, and maintain. To achieve competitiveness, firms must employ techniques or models such as Porter’s generic competitive strategies. Gene ric Competitive Strategies Porter’s Model was developed to encourage the firm to gain competitive advantage through following the suggested strategies. The famous hypothesis of Porter is â€Å"stuck in the middle† when firms failed to utilise one of the strategies such as differentiation, cost leadership, focus, or combination as illustrated in Figure 1 below. The model of Porter is determined by the forces in the environment that have a direct influence to the firm’s competitive position. These are â€Å"threat of new entry, intensity of rivalry among existing firms, pressure from substitute products, bargaining power of buyers, and suppliers† (Ormanidhi & Stringa, 2008, p.57). Porter argues that companies must examine its competitive position so that they will know their strength and weaknesses that would form into strategies for defensive or offensive actions. Figure 1 Porter’s Model * Grant 1998 cited in Kossowski, 2003, p.6 Differentiation Thi s is one of the business strategies that Porter identifies in the framework. Differentiation is the firm’s strategy to produce â€Å"unique products or services† (Allen, 2006, p.434). This strategy is essential when the companies’ objective is to build customer’s loyalty because it satisfies the customer’s needs and preferences. The product or service is designed based on the customers’ wants; hence, it produces satisfaction. The customers are concerned with the product quality, features, or after-sales support that increases their value. It results to the positive perception of customer regarding the quality of services the company rendered. Due to additional expenses caused by differentiating products, the company must charge a premium price to return its investment. Regardless of this, perceptive customers prefer quality in terms of delivery system, product, and services. Thus, this strategy is limited to customers who are willing to pay despite the higher price. However, product differentiation is relevant in establishing a brand name for its recall. The differentiated products influence the customers’ perception of the firms’ dissimilarity with their competitors. In addition, it eliminates price conscious consumers by focusing on unique products. The research literature is interested with the widely accepted and used model designed by Porter. Akan, et al. (2006, p.45) include the tactics that managers must utilise in applying this strategy that will