Social Policy and the Social Security System Essay

Social Policy and the Social Security System - Essay Example As addressed by bush in the State of the Union Address in 2005, "One of America's most important institutions - a symbol of the trust between generations- is in need of wise and effective reform. Social Security was a great moral success of the 20th Century, and we must honor its great purpose in this new century. The system, however, on its current path, is headed toward bankruptcy. And so we must join together to strengthen and save Social Security." The threat of bankruptcy that the Social Security System is facing is a source of much concern throughout the United States and is an issue that the past and current administrations have taken very seriously (The Problems Facing, 1). Since its establishment in 1935 with the signing of the Social Security Act by President Roosevelt, the Social Security System has undergone a great number of changes. Originally formatted to provide income to retired workers, the Act was adapted in 1939 to include coverage for the dependents and survivors of deceased workers, greatly increasing the payout to each retiree. In 1956 the system had two major changes, the first being the creation of Disability Insurance and the second being the allowance of early retirement for women at the age of 62 (History of Social Security, 1). The same early retirement was allowed for men by 1961. In 1972 the issue of inflation was addressed with the introduction of Cost of Living Adjustments (COLAs) (History of Social Security, 1). The COLAs had many problems, which were remedied in 1977. Created in 1983 was the National Commission on Social Security Reform. "The commission called for 1) an increase in the self-employment tax; 2) partial taxation of benefits to upper income retirees; 3) expansion of coverage to include federal civilian and nonprofit organization employees; 4) an increase in the retirement age from 65 to 67, to be enacted gradually starting in 2000" (History of Social Security, 1). The Social Security system went through a major change when The Social Security Trustees' Report in 1996 announced starting in 2012 the system would begin running deficits, exhausting the trust funds by 2029. The very next year it was decided by the Social Security Advisory Panel that Social Security's funds would be invested in the private sector. Payroll taxes were drastically affected by this change. (History of Social Security, 2). Social Security is a system initially established in 1935 when the vast majority of women were housewives (The Problems Facing, 1). When the program was established, many factors attributed to the great success of the program. One of the contributing factors was the much lower life expectancy in the United States. In many cases, workers would not live long enough to qualify to receive Social Security. As a result, "there were more than 40 workers to support every one retiree" (the Problems Facing, 1). Those statistics have drastically changed since the establishment of the system. Today, the average life expectancy is 77 years old. In addition, more than 60% of women are currently working. With this change of statistics, the ratio of workers to retiree's has shifted, causing the gradual

My Organization at a Glance Research Paper Example | Topics and Well Written Essays - 1500 words

My Organization at a Glance - Research Paper Example The results of the analysis provide an organization’s management team with the basics of maintaining optimum management practices. Strategic management helps the management attain better alignment of corporate policies and strategic priorities (George & Bock, 2011). This discussion is an examination of the McDonald’s corporation organizational analysis, environmental analysis as well strategic issues and recommendations how to build the organization’s competitive advantages. Organizational Analysis McDonald’s is a fast food corporation that operates in the restaurant industry. The corporation is among the oldest fast food outlet in America with a global presence. McDonald’s corporation was established in 1937 by Patrick McDonald in California. Strengths Technology. McDonald’s corporation is technology sensitive. The corporation is at the forefront of modern technology among fast food retailers (Pearson Education, Inc, 2011). For illustration, the corporation has put in place a cellular technology to allow customers to place their orders online. The corporation has also installed Internet access terminals and Wi-Fi to enhance customers to order online and eventually lessen the lag time involved between ordering time and pick up time. Experienced Market Leaders. In terms of global reach and biggest player, McDonald’s is always conquering markets from its competitors. Due to its immense presence, McDonald’s corporation is able to operate at economies of scale (Mohammed, 2009). The corporation sells its products at relatively low prices attracting more customers due to its cost leadership. In addition to being the largest fast food retailer, the corporation is experienced and understands the market fairly well. Strong Brand Name, Image and Reputation. McDonald’s has strong brand equity, and its image is globally renowned. The corporation image is among the top ten most powerful brand names in the globe. This has a positive impact on the corporation’s sales and share price (Mohammed, 2009). The brand equity is valued around $40 million, and this reputation makes McDonald’s a household name. Special Training for the Managerial Staff. McDonald’s corporation has a training program for its managerial and other employees in a bid to reduce turnover rates and enhance quality. The Hamburger University is an in-house program for specifically training McDonald’s managerial staff (Mohammed, 2009). The trained managers help to run the company towards its growth objectives. Positive and Influential CSR. McDonald’s corporation operates Ronald McDonald’s houses that offer accommodation, food, and child support for needy families requiring extensive hospital care. This corporate philanthropy enhances the corporation’s image further. The corporation also has a golden archway logo and Ronald McDonald clown that is globally acknowledgeable (McDonaldâ €™s Corporation, 2012). Weaknesses Unhealthy Food Image. Although McDonald’s corporation is globally renowned, the corporation has several weaknesses. One of the weaknesses that the corporation grapples with is the aspect of unhealthy food image (Pearson Education, Inc, 2011). The verity that McDonald’s offers fast food has resulted in uproar that the foods are responsible for increased obesity rates among children in the United States. High Employee Turnover/Training Costs. McDonald’s corporation also faces high employee turnover rates. The corporation is cited