1. The document discusses factors that companies must consider when expanding globally, including political, legal, economic, human capital, and cultural issues in different countries.
2. It provides an overview of how healthcare is structured in Europe, with national governments typically funding universal healthcare through taxes and mandates on employers.
3. The implications for global companies include potentially higher taxes and labor costs in countries with strong social welfare programs and public benefits.
This presentation by Müge Adalet McGowan, Senior Economist, Economics Department, OECD, was made during the discussion “Barriers to exit” held at the 132nd meeting of the OECD Competition Committee on 4 December 2019. More papers and presentations on the topic can be found at oe.cd/bte.
The Real Impact of Say on Pay and a Brief Update from the Dodd-Frank Wall Str...PERFORMENSATION
This presentation was given July 23, 2010 by Ed Hauder of Exequity, Robert McCormick of Glass Lewis and Dan Walter of Performensation.
It provides a comprehensive look at how Say on Pay has impacted executive compensation in Europe, Australia and the US. The presentation also provides a drill down into each of the executive compensation provisions included in the Dodd-Frank Wall Street Reform and Consumer Protection law, sign July 21, 2010.
http://bit.ly/c3kXnM
The document discusses conditional fee arrangements (CFAs) which were introduced in 1995 and will replace legal aid for personal injury cases except medical negligence. It examines how CFAs work, including success fees of up to 100% that the losing party must pay. While CFAs have increased access to justice for some, research also found they have not benefited the poorest clients and some cases have fees well above 100%.
This presentation by Jocelyn Martel, Professor ESSEC, was made during the discussion “Barriers to exit” held at the 132nd meeting of the OECD Competition Committee on 4 December 2019. More papers and presentations on the topic can be found at oe.cd/bte.
This PowerPoint is a discussion of options for financing clean energy. It describes financing processes, and outlines specific options related to on-bill financing structures, 3rd party structures and commercial lending structures. It was originally presented to RE-AMP, an organization of environmental advocates operating primarily in the Midwest.
Introduction to Irish Politics: Lecture Five - The Electoral SystemConor McCabe
The document provides background information on proportional representation with the single transferable vote (PR-STV) electoral system. It discusses the historical context for the development of PR-STV, key elements of how it works including ballot structure, district magnitude, and quota formulas. It also outlines both strengths, such as providing proportional representation and allowing voters to rank individual candidates, and weaknesses, such as potentially weakening party control and encouraging regional politics.
This presentation by Müge Adalet McGowan, Senior Economist, Economics Department, OECD, was made during the discussion “Barriers to exit” held at the 132nd meeting of the OECD Competition Committee on 4 December 2019. More papers and presentations on the topic can be found at oe.cd/bte.
The Real Impact of Say on Pay and a Brief Update from the Dodd-Frank Wall Str...PERFORMENSATION
This presentation was given July 23, 2010 by Ed Hauder of Exequity, Robert McCormick of Glass Lewis and Dan Walter of Performensation.
It provides a comprehensive look at how Say on Pay has impacted executive compensation in Europe, Australia and the US. The presentation also provides a drill down into each of the executive compensation provisions included in the Dodd-Frank Wall Street Reform and Consumer Protection law, sign July 21, 2010.
http://bit.ly/c3kXnM
The document discusses conditional fee arrangements (CFAs) which were introduced in 1995 and will replace legal aid for personal injury cases except medical negligence. It examines how CFAs work, including success fees of up to 100% that the losing party must pay. While CFAs have increased access to justice for some, research also found they have not benefited the poorest clients and some cases have fees well above 100%.
This presentation by Jocelyn Martel, Professor ESSEC, was made during the discussion “Barriers to exit” held at the 132nd meeting of the OECD Competition Committee on 4 December 2019. More papers and presentations on the topic can be found at oe.cd/bte.
This PowerPoint is a discussion of options for financing clean energy. It describes financing processes, and outlines specific options related to on-bill financing structures, 3rd party structures and commercial lending structures. It was originally presented to RE-AMP, an organization of environmental advocates operating primarily in the Midwest.
Introduction to Irish Politics: Lecture Five - The Electoral SystemConor McCabe
The document provides background information on proportional representation with the single transferable vote (PR-STV) electoral system. It discusses the historical context for the development of PR-STV, key elements of how it works including ballot structure, district magnitude, and quota formulas. It also outlines both strengths, such as providing proportional representation and allowing voters to rank individual candidates, and weaknesses, such as potentially weakening party control and encouraging regional politics.
Benefits and beyond, c. 5 small employers.temurphy
This document discusses retirement plan options for small employers. It notes that traditional defined benefit plans (DBPs) and 401(k) plans can be too expensive and administratively burdensome for some small employers. It proposes using Individual Retirement Accounts (IRAs) as a vehicle for a more efficient employer-sponsored retirement plan. Specifically, it discusses the Savings Incentive Match Plan for Employees (SIMPLE) IRA plan, which allows employers with 100 or fewer employees to contribute matching funds to employees' IRAs. It also briefly outlines other small employer retirement plans like Simplified Employee Pensions (SEPs) and Keogh/Money Purchase plans.
Benefits and beyond c. 6 and 7 health caretemurphy
This document discusses the history and evolution of health care plans in the United States, from indemnity plans to newer models like HMOs, PPOs, and consumer-driven plans. It outlines key features of different plan types like cost sharing, networks, and incentives for consumers. The document also examines factors driving rising health care costs and how the Patient Protection and Affordable Care Act may impact the industry and plan designs going forward.
This document discusses various types of equity benefit plans that companies can provide employees, including stock options, restricted stock, stock appreciation rights, and performance-based equity plans. It notes both benefits and potential downsides of equity compensation, such as dilution, risk during market declines, and issues with underwater options. The document advocates for performance-based equity plans to better align employee and shareholder interests, and questions whether equity ownership truly causes employees to think like owners.
Benefits and beyond c. 12 govt sponsored and mandatedtemurphy
The document discusses government sponsored and mandated retirement and health benefits in the United States, focusing on Social Security and Medicare. Social Security is a defined benefit plan funded by payroll taxes that provides retirement benefits based on average lifetime earnings. It faces long-term funding issues due to increasing life expectancies and an aging population. Medicare provides health coverage for those over 65 and is funded through a payroll tax. It has become increasingly important as employer-sponsored retiree health coverage has declined. The document examines eligibility rules, benefit structures, and contemporary issues for both programs.
Benefits and beyond c. 9 legal compliance temurphy
ERISA was passed in 1974 to protect the pensions and retirement benefits of American workers. Prior to ERISA, pensions often did not vest until age 65 so employees could be fired just before retirement with no benefits. Plans were also often underfunded and terminated, leaving participants with nothing. ERISA established rules around participation, vesting, funding, fiduciary duties, disclosure and more. It aimed to make retirement benefits secure and ensure employees received the benefits they were promised.
Benefits and beyond c. 8 health care reformtemurphy
The document discusses problems with the current US healthcare system, including rising costs and the large number of uninsured Americans. It examines factors contributing to high costs such as administrative overhead, prices, and overutilization of services. Solutions proposed include creating a value-based and quality-driven healthcare market through publishing outcomes data, competition among providers, and payment reforms that reward effective and efficient care rather than fee-for-service. The document advocates for prioritizing reductions in costs in order to expand access to more Americans.
Benefits and beyond c. 3 life cycle eventstemurphy
This document discusses life cycle events that drive employer-sponsored benefits and how benefits can be designed to accommodate different events. It provides examples of life events like health issues, marriage, childbirth, retirement, and death. It also discusses measuring the effectiveness of benefits and considering global and demographic differences in benefits.
This document summarizes key aspects of defined benefit pension plans (DBPs), including typical benefit formulas, risk allocation, and design features. It also discusses the transition from DBPs to defined contribution plans (DCPs) and hybrid plans like cash balance plans. Cash balance plans allocate more risk to employees by basing benefits on current pay rather than final pay. The document poses questions about risk allocation and using the benefits model to evaluate different plan designs.
The Patient Protection and Affordable Care Act (ACA), also known as Obamacare, was signed into law in 2010 and has several major provisions going into effect in 2014. It aims to increase access to health insurance coverage and reduce costs. Key elements include an individual mandate to obtain health insurance, state-run insurance exchanges, expanded Medicaid eligibility, and prohibitions on denying coverage due to pre-existing conditions. However, there is ongoing debate around the costs and economic impact of the sweeping health reform law.
This document outlines the topics that will be covered in a course on employee benefits. It discusses how benefits are an important part of human resource management strategy and how they are used to attract, retain, and motivate employees. However, rising benefit costs are a challenge for employers. The course will examine issues like retirement plans, health insurance, legal compliance, measuring the value of benefits, and global models of providing benefits. It aims to help students analyze and improve benefit strategies.
The proposed rule on the Physician Payment Sunshine Act would require extensive new reporting requirements on continuing medical education providers and supporters that go beyond the original intent of the Act. This would likely lead to a significant reduction in industry funding for CME and negatively impact patient care. The CME Coalition is launching efforts to provide comments to HHS and engage Congress to roll back these provisions in the final rule.
Closing the US budget deficit and reducing debt will require a combination of approaches as no single solution can close the large gap. The documents discusses various options for both cutting spending and raising revenues, but notes that each faces political challenges as interest groups support existing policies. Spending cuts could target waste but make only a small dent, and entitlement reform is difficult due to existing benefits. Revenue increases through tax rate hikes or limiting deductions/credits could help but would also face opposition. An overall solution will likely require multiple, simultaneous actions across spending and taxes.
Testimony -taxreform--pres budget commission5Urban Institute
The document discusses reforming taxes as part of overall budget reform. It outlines that tax reform involves dealing with the entire revenue side of the budget, including various taxes and tax subsidies that make up a significant portion of federal spending. The document also discusses the relationship between taxes and the budget, noting that most spending and tax programs are designed in a way that ensures permanent built-in growth, contributing to long-term budget deficits. It advocates for a comprehensive approach to tax and budget reform.
The proposed HHS rule on the Physician Payment Sunshine Act would require CME providers and supporters to report all payments and transfers of value to physicians, including indirect payments. This would create a significant new reporting burden on CME organizations that is inconsistent with the intent of the Act. The CME Coalition is launching efforts to provide comments opposing this overreach in the rule and engage Congress to address concerns over its impact on accredited CME. It calls on the CME community to submit comments, contact congressional representatives, and join the Coalition in its advocacy.
This document summarizes testimony given to the National Commission on Fiscal Responsibility and Reform about reforming taxes as part of budget reform. The testimony discusses how tax reform involves dealing with the entire revenue side of the budget, including special taxes and incentives that affect future revenues. It also notes that about 1/4 to 1/3 of all government "spending" comes in the form of tax subsidies. The testimony argues that meaningful budget reform requires addressing both taxes and spending by reducing direct spending, raising some tax rates, reducing tax subsidies, and incentivizing more work and saving.
Extra Credit
1. A “natural monopoly” exists when
A company creates a monopoly because it has an important patent
A company naturally creates a monopoly because it was more innovative than other competitors
One company can serve a market less costly than two or more firms.
2. True or False? Most public utilities are considered to be natural monopolies.
3. The presence of very large fixed costs and relatively low variable costs typically results in
A. Average costs declining throughout the relevant range of demand
B. A natural monopoly
C. Both A and B
D. Neither A nor B
4. An example of a Public Utility would be
Walmart
El Paso Electric Co.
Congress
Microsoft
5. The Public Interest Theory of regulation suggests
Government regulates to promote social economic welfare (as economists would prescribe)
Government regulates to promote their own welfare
Government should not regulate at all
None of the above
6. True or False? Stigler’s Economic Theory of Regulation suggests that people in government are self-interested individuals.
Suppose a power plant generates an additional 10 mWh of electricity for a profit of $100,000. This additional production also creates pollution damages to others equivalent to $120,000. From society’s view, the efficient decision is not to generate the additional power.
7. True or False? Under the Coase Theorem without transactions costs, the efficient decision will be made when the public has the right to receive damage payments.
8. True or False? Under the Coase Theorem without transactions costs, the efficient decision will be made when the power plant has the right to pollute.
9. True or False? If the market causing a negative externality has a property right to do so, the Coase Theorem would suggest that those being harmed would organize and make a payment to stop or limit the market activity.
10. The presence of transaction costs in the “real world” may
Give a rationale for government regulation.
Ensure that the Coase Theorem efficiency results always prevail.
Make it easy to organize people against a polluting company.
11. Why is it rational for groups affected by regulation to expend resources to influence regulatory decisions?
Government’s power of coercion may be used to redistribute wealth between groups of people.
Government will do what is best for the public interest.
Government regulation should be eliminated.
12. “Taxation by Regulation” (Richard Posner) suggests that regulation is used for what purpose?
Help airlines and other regulated industries.
Cross-subsidize certain markets or market segments.
Increase the general fund (tax revenues) directly collected by the government.
Protect the environment.
13. True or False? The “Capture Theory” of regulation is an extreme (polar) case of the Economic Theory of Regulation.
14. Which of the following is not an assumption under Professor Stigler’s “Economic Theory of Regulation”?
All actors in a political-economy are self-int.
This document discusses vouchers and demand side financing policies in healthcare. Vouchers are documents that entitle the holder to discounts or goods and services. Healthcare markets aim to achieve equity, efficiency, effectiveness, and patient satisfaction. Vouchers can be used to increase provider choice for patients or target subsidies to vulnerable groups. Key questions around vouchers include eligibility, distribution costs, and which services and institutions are covered. Demand side financing transfers purchasing power to groups for defined services to increase access. The conclusions question if demand side financing goals could be achieved more efficiently through regular funding and note the need for quality assurance mechanisms.
Marketing Strategy Of Sprint And T MobileGina Alfaro
Sprint and T-Mobile are both majority owned by large international telecommunications companies, with Sprint owned by SoftBank and T-Mobile owned by Deutsche Telekom. The decision for Masayoshi Son, CEO of SoftBank, to end merger talks between Sprint and T-Mobile was difficult as combining the two companies would increase his ability to compete with AT&T and Verizon Wireless in the US wireless market. As the third and fourth largest wireless carriers in the US, a merger of Sprint and T-Mobile would give the combined company additional scale to better compete against the top two carriers.
Marketing stuff mcgraw-hill- The marketing environmentFred Mmbololo
This document provides an overview of the marketing environment and how companies monitor and respond to changes within it. It discusses the macroenvironment, which includes political/legal, economic, ecological/physical, social/cultural, and technological forces outside a company's control. It also briefly introduces the microenvironment, which includes customers, competitors, distributors, and suppliers. The document focuses on describing the political/legal forces in the EU and individual countries that can influence marketing, such as laws around competition, mergers and acquisitions, state aid, and national regulations. It then discusses key economic forces including economic growth and unemployment, interest and exchange rates, and the growth of emerging markets.
This document provides an overview of the political and legal forces in the marketing environment. It discusses how the European Union regulates competition through laws preventing collusion, abuse of market dominance, and restrictions on mergers and acquisitions. It also discusses laws around state aid and how national governments can influence companies. Specific examples are given of industries fined for price fixing cartels. Overall, the political and legal environment in the EU creates regulations that shape competition between companies.
Webinar - Experience with Support Policies for Renewable Energy in EULeonardo ENERGY
http://www.leonardo-energy.org/webinar/experience-renewable-electricity-support-schemes-europe-%E2%80%93-best-practices-and-challenges
Which instruments should be chosen to support renewable electricity? What are their cost implications? Could renewables support be aligned across Europe?
These are some of the hot questions of the European policy debate. The webinar will give an overview of renewable electricity support schemes currently applied in Europe. Corinna Klessmann will present best practices, trends and challenges in renewable energy policy design, based on recent assignments for the European Commission.
Benefits and beyond, c. 5 small employers.temurphy
This document discusses retirement plan options for small employers. It notes that traditional defined benefit plans (DBPs) and 401(k) plans can be too expensive and administratively burdensome for some small employers. It proposes using Individual Retirement Accounts (IRAs) as a vehicle for a more efficient employer-sponsored retirement plan. Specifically, it discusses the Savings Incentive Match Plan for Employees (SIMPLE) IRA plan, which allows employers with 100 or fewer employees to contribute matching funds to employees' IRAs. It also briefly outlines other small employer retirement plans like Simplified Employee Pensions (SEPs) and Keogh/Money Purchase plans.
Benefits and beyond c. 6 and 7 health caretemurphy
This document discusses the history and evolution of health care plans in the United States, from indemnity plans to newer models like HMOs, PPOs, and consumer-driven plans. It outlines key features of different plan types like cost sharing, networks, and incentives for consumers. The document also examines factors driving rising health care costs and how the Patient Protection and Affordable Care Act may impact the industry and plan designs going forward.
This document discusses various types of equity benefit plans that companies can provide employees, including stock options, restricted stock, stock appreciation rights, and performance-based equity plans. It notes both benefits and potential downsides of equity compensation, such as dilution, risk during market declines, and issues with underwater options. The document advocates for performance-based equity plans to better align employee and shareholder interests, and questions whether equity ownership truly causes employees to think like owners.
Benefits and beyond c. 12 govt sponsored and mandatedtemurphy
The document discusses government sponsored and mandated retirement and health benefits in the United States, focusing on Social Security and Medicare. Social Security is a defined benefit plan funded by payroll taxes that provides retirement benefits based on average lifetime earnings. It faces long-term funding issues due to increasing life expectancies and an aging population. Medicare provides health coverage for those over 65 and is funded through a payroll tax. It has become increasingly important as employer-sponsored retiree health coverage has declined. The document examines eligibility rules, benefit structures, and contemporary issues for both programs.
Benefits and beyond c. 9 legal compliance temurphy
ERISA was passed in 1974 to protect the pensions and retirement benefits of American workers. Prior to ERISA, pensions often did not vest until age 65 so employees could be fired just before retirement with no benefits. Plans were also often underfunded and terminated, leaving participants with nothing. ERISA established rules around participation, vesting, funding, fiduciary duties, disclosure and more. It aimed to make retirement benefits secure and ensure employees received the benefits they were promised.
Benefits and beyond c. 8 health care reformtemurphy
The document discusses problems with the current US healthcare system, including rising costs and the large number of uninsured Americans. It examines factors contributing to high costs such as administrative overhead, prices, and overutilization of services. Solutions proposed include creating a value-based and quality-driven healthcare market through publishing outcomes data, competition among providers, and payment reforms that reward effective and efficient care rather than fee-for-service. The document advocates for prioritizing reductions in costs in order to expand access to more Americans.
Benefits and beyond c. 3 life cycle eventstemurphy
This document discusses life cycle events that drive employer-sponsored benefits and how benefits can be designed to accommodate different events. It provides examples of life events like health issues, marriage, childbirth, retirement, and death. It also discusses measuring the effectiveness of benefits and considering global and demographic differences in benefits.
This document summarizes key aspects of defined benefit pension plans (DBPs), including typical benefit formulas, risk allocation, and design features. It also discusses the transition from DBPs to defined contribution plans (DCPs) and hybrid plans like cash balance plans. Cash balance plans allocate more risk to employees by basing benefits on current pay rather than final pay. The document poses questions about risk allocation and using the benefits model to evaluate different plan designs.
The Patient Protection and Affordable Care Act (ACA), also known as Obamacare, was signed into law in 2010 and has several major provisions going into effect in 2014. It aims to increase access to health insurance coverage and reduce costs. Key elements include an individual mandate to obtain health insurance, state-run insurance exchanges, expanded Medicaid eligibility, and prohibitions on denying coverage due to pre-existing conditions. However, there is ongoing debate around the costs and economic impact of the sweeping health reform law.
This document outlines the topics that will be covered in a course on employee benefits. It discusses how benefits are an important part of human resource management strategy and how they are used to attract, retain, and motivate employees. However, rising benefit costs are a challenge for employers. The course will examine issues like retirement plans, health insurance, legal compliance, measuring the value of benefits, and global models of providing benefits. It aims to help students analyze and improve benefit strategies.
The proposed rule on the Physician Payment Sunshine Act would require extensive new reporting requirements on continuing medical education providers and supporters that go beyond the original intent of the Act. This would likely lead to a significant reduction in industry funding for CME and negatively impact patient care. The CME Coalition is launching efforts to provide comments to HHS and engage Congress to roll back these provisions in the final rule.
Closing the US budget deficit and reducing debt will require a combination of approaches as no single solution can close the large gap. The documents discusses various options for both cutting spending and raising revenues, but notes that each faces political challenges as interest groups support existing policies. Spending cuts could target waste but make only a small dent, and entitlement reform is difficult due to existing benefits. Revenue increases through tax rate hikes or limiting deductions/credits could help but would also face opposition. An overall solution will likely require multiple, simultaneous actions across spending and taxes.
Testimony -taxreform--pres budget commission5Urban Institute
The document discusses reforming taxes as part of overall budget reform. It outlines that tax reform involves dealing with the entire revenue side of the budget, including various taxes and tax subsidies that make up a significant portion of federal spending. The document also discusses the relationship between taxes and the budget, noting that most spending and tax programs are designed in a way that ensures permanent built-in growth, contributing to long-term budget deficits. It advocates for a comprehensive approach to tax and budget reform.
The proposed HHS rule on the Physician Payment Sunshine Act would require CME providers and supporters to report all payments and transfers of value to physicians, including indirect payments. This would create a significant new reporting burden on CME organizations that is inconsistent with the intent of the Act. The CME Coalition is launching efforts to provide comments opposing this overreach in the rule and engage Congress to address concerns over its impact on accredited CME. It calls on the CME community to submit comments, contact congressional representatives, and join the Coalition in its advocacy.
This document summarizes testimony given to the National Commission on Fiscal Responsibility and Reform about reforming taxes as part of budget reform. The testimony discusses how tax reform involves dealing with the entire revenue side of the budget, including special taxes and incentives that affect future revenues. It also notes that about 1/4 to 1/3 of all government "spending" comes in the form of tax subsidies. The testimony argues that meaningful budget reform requires addressing both taxes and spending by reducing direct spending, raising some tax rates, reducing tax subsidies, and incentivizing more work and saving.
Extra Credit
1. A “natural monopoly” exists when
A company creates a monopoly because it has an important patent
A company naturally creates a monopoly because it was more innovative than other competitors
One company can serve a market less costly than two or more firms.
2. True or False? Most public utilities are considered to be natural monopolies.
3. The presence of very large fixed costs and relatively low variable costs typically results in
A. Average costs declining throughout the relevant range of demand
B. A natural monopoly
C. Both A and B
D. Neither A nor B
4. An example of a Public Utility would be
Walmart
El Paso Electric Co.
Congress
Microsoft
5. The Public Interest Theory of regulation suggests
Government regulates to promote social economic welfare (as economists would prescribe)
Government regulates to promote their own welfare
Government should not regulate at all
None of the above
6. True or False? Stigler’s Economic Theory of Regulation suggests that people in government are self-interested individuals.
Suppose a power plant generates an additional 10 mWh of electricity for a profit of $100,000. This additional production also creates pollution damages to others equivalent to $120,000. From society’s view, the efficient decision is not to generate the additional power.
7. True or False? Under the Coase Theorem without transactions costs, the efficient decision will be made when the public has the right to receive damage payments.
8. True or False? Under the Coase Theorem without transactions costs, the efficient decision will be made when the power plant has the right to pollute.
9. True or False? If the market causing a negative externality has a property right to do so, the Coase Theorem would suggest that those being harmed would organize and make a payment to stop or limit the market activity.
10. The presence of transaction costs in the “real world” may
Give a rationale for government regulation.
Ensure that the Coase Theorem efficiency results always prevail.
Make it easy to organize people against a polluting company.
11. Why is it rational for groups affected by regulation to expend resources to influence regulatory decisions?
Government’s power of coercion may be used to redistribute wealth between groups of people.
Government will do what is best for the public interest.
Government regulation should be eliminated.
12. “Taxation by Regulation” (Richard Posner) suggests that regulation is used for what purpose?
Help airlines and other regulated industries.
Cross-subsidize certain markets or market segments.
Increase the general fund (tax revenues) directly collected by the government.
Protect the environment.
13. True or False? The “Capture Theory” of regulation is an extreme (polar) case of the Economic Theory of Regulation.
14. Which of the following is not an assumption under Professor Stigler’s “Economic Theory of Regulation”?
All actors in a political-economy are self-int.
This document discusses vouchers and demand side financing policies in healthcare. Vouchers are documents that entitle the holder to discounts or goods and services. Healthcare markets aim to achieve equity, efficiency, effectiveness, and patient satisfaction. Vouchers can be used to increase provider choice for patients or target subsidies to vulnerable groups. Key questions around vouchers include eligibility, distribution costs, and which services and institutions are covered. Demand side financing transfers purchasing power to groups for defined services to increase access. The conclusions question if demand side financing goals could be achieved more efficiently through regular funding and note the need for quality assurance mechanisms.
Marketing Strategy Of Sprint And T MobileGina Alfaro
Sprint and T-Mobile are both majority owned by large international telecommunications companies, with Sprint owned by SoftBank and T-Mobile owned by Deutsche Telekom. The decision for Masayoshi Son, CEO of SoftBank, to end merger talks between Sprint and T-Mobile was difficult as combining the two companies would increase his ability to compete with AT&T and Verizon Wireless in the US wireless market. As the third and fourth largest wireless carriers in the US, a merger of Sprint and T-Mobile would give the combined company additional scale to better compete against the top two carriers.
Marketing stuff mcgraw-hill- The marketing environmentFred Mmbololo
This document provides an overview of the marketing environment and how companies monitor and respond to changes within it. It discusses the macroenvironment, which includes political/legal, economic, ecological/physical, social/cultural, and technological forces outside a company's control. It also briefly introduces the microenvironment, which includes customers, competitors, distributors, and suppliers. The document focuses on describing the political/legal forces in the EU and individual countries that can influence marketing, such as laws around competition, mergers and acquisitions, state aid, and national regulations. It then discusses key economic forces including economic growth and unemployment, interest and exchange rates, and the growth of emerging markets.
This document provides an overview of the political and legal forces in the marketing environment. It discusses how the European Union regulates competition through laws preventing collusion, abuse of market dominance, and restrictions on mergers and acquisitions. It also discusses laws around state aid and how national governments can influence companies. Specific examples are given of industries fined for price fixing cartels. Overall, the political and legal environment in the EU creates regulations that shape competition between companies.
Webinar - Experience with Support Policies for Renewable Energy in EULeonardo ENERGY
http://www.leonardo-energy.org/webinar/experience-renewable-electricity-support-schemes-europe-%E2%80%93-best-practices-and-challenges
Which instruments should be chosen to support renewable electricity? What are their cost implications? Could renewables support be aligned across Europe?
These are some of the hot questions of the European policy debate. The webinar will give an overview of renewable electricity support schemes currently applied in Europe. Corinna Klessmann will present best practices, trends and challenges in renewable energy policy design, based on recent assignments for the European Commission.
A document discusses the evolving role of captives within the changing healthcare environment. It notes rising healthcare costs and the growth of accountable care organizations (ACOs) and self-insurance. Captives are increasingly being used to manage ACO and employee healthcare risks. Case studies show how group captives can generate savings for employers by pooling stop-loss insurance and improving risk management. Forming a successful captive requires thorough planning and establishing sound fundamentals.
https://userupload.net/yk8shpcpwk19
Dentistry can do so much these days to improve a person’s health, appearance and self-confidence. From barely noticeable braces that straighten crooked smiles to dental implants that replace missing teeth, there is a state-of-the-art solution to virtually any dental problem. Of course, like anything that involves the time and resources of skilled professionals, highly technical and sophisticated dental treatment doesn’t come inexpensively; indeed, the phrase “you get what you pay for” probably applies doubly to dentistry. Also, the types of treatment mentioned above, as well as many others, are often considered elective and therefore may not be covered (or only partially covered) by dental insurance. This can be the case even when a given procedure offers proven health benefits.
The document discusses problems with governmental extension services and potential solutions. It identifies 8 common problems: conflicting interests between governments and farmers; role conflicts for extension agents; inappropriate legal structures; wrong incentives prioritizing administration over services; top-down quality control lacking farmer feedback; budget-based financing not tied to tasks; inappropriate supply-driven content; and lack of efficiency and affordability. It proposes solutions such as separating extension from other government roles; shifting to more private, pluralistic, and demand-driven extension models; and gradually reducing government provision of direct services.
The document discusses several key topics related to businesses and economics:
1. It outlines different types of economic systems including centrally planned, free market, and mixed systems.
2. It discusses stakeholders in businesses like customers, suppliers, owners, managers, employees, community, and government.
3. It explains that businesses aim to provide services, make profits, and have charitable purposes while balancing costs and benefits to the community.
Antitrust risks increased dangers in a global enforcement environmentMayer Brown LLP
This document summarizes global antitrust enforcement trends and risks. It notes that the EU has become a major driver of fines for antitrust violations, while the US continues to pursue global cartel enforcement through leniency programs and impose significant fines and jail time for violations. Antitrust enforcement is increasing in regions like Europe, Latin America, and Asia. Coordination of multinational cartel investigations is also growing. Effective compliance programs can help reduce antitrust risks but may not eliminate penalties, particularly in the US where high-level participation can negate benefits from a compliance program.
Funding Good Outcomes- Using social investment to support payment by results.PDFrhoddavies1
This document discusses payment by results (PbR) contracts and how social investment can help address challenges they present for non-profit organizations. It provides examples of government programs using PbR in areas like employment, families, health, and criminal justice. While PbR allows more flexibility, they require upfront capital that non-profits often lack. The document examines how social investment can help by providing loans or guarantees. However, it notes key issues around balancing risk between parties and ensuring fair returns for investors, non-profits, and commissioners.
Universal health care can be achieved through subsidization and compulsion. The document discusses options for funding universal coverage through dedicated taxes rather than general revenues. A value-added tax (VAT) could finance universal health vouchers in a progressive way. This addresses the disadvantages of relying on general revenues and the inefficiencies of the current employment-based insurance system, while establishing a budget for health spending. Winners would include the poor, uninsured, and sick who currently lack affordable coverage.
Similar to Benefits and beyond c. 13 global ppt (20)
2. New markets for products and services New sources of supply of raw materials and labor Economies of scale, logistics, and outsourcing New demand for similar products Trade Agreements open commerce among nations (quotas and tariffs) Thomas E. Murphy 3 What’s Driving Global Market 12/21/10
3. Business is facing new competitors with varying cost structures Importantly, wage and benefit costs – globally – are becoming very relevant from a competitive standpoint Costs determine how and where they will locate and how they will compete. How do we compensate expatriates? Thomas E. Murphy 4 And. . . 12/21/10
4. Domestic production – domestic markets Then, it starts sending products abroad Should it buy or build a plant or service center abroad? Economics usually drives this answer Over time the company integrates all of its operations (see Ford, P&G, Unilever, Convergys) Query: What are the compensation and benefit implications of this change? Thomas E. Murphy 5 Evolution of Global Enterprise 12/21/10
5. Global--treats world as single-integrated unit. International--treats overseas units as offshoots of domestic strategy. Multinational--treats the world as a portfolio of national opportunities. Thomas E. Murphy 6 Global Integration of Enterprise 12/21/10
6. Raw materials Technology Capital Facilities Human Resources Thomas E. Murphy 7 Global Sourcing 12/21/10
7. Values aligned with Global Strategy Must develop global leadership and technical talent – cannot rely solely on home country Respect local culture and customer traits All HR, Financial, MIS systems support the Global Strategy Integrate systems and policies as much as possible, but recognize cultural and national differences. Thomas E. Murphy 8 Global Culture 12/21/10
8. Global Core Competencies The Organization Individual leadership Competitiveness Complexity Alignment Change Multiculturalism Learning Cultural sensitivity Negotiation and conflict resolution Encourage creativity Select and develop people Ethical and legal compliance 12/21/10 Thomas E. Murphy 9
9. Access new markets, strategic relationships, M & A opportunities. Access new raw materials or acquire inventory of products to sell. Find lower labor costs? Leverage supply chain 12/21/10 Thomas E. Murphy 10 What’s the Business Strategy?
10. There are some very basic territorial, political, legal, and economic factors to consider. Thomas E. Murphy 11 But . . . 12/21/10
11. Work councils Layoff restrictions Intellectual property rights Taxation of total reward system Financing sources, different capitalization process vis a` vis U.S.A. Risk averse reward systems Publically provided benefits. Thomas E. Murphy 12 Factors: Political and Legal 12/21/10
12. Industry wide union agreements Strong Social Welfare Programs Totally different reward system Less emphasis on litigation Importance of relationships The Tribe 12/21/10 Thomas E. Murphy 13 Factors: Political and Legal
13. Organizational differences between U.S. and EU businesses. Shareholder-based versus bank ownership Subsidization and privatization. The importance of employment standards in EU; EEO in US. Thomas E. Murphy 14 Factors: Political and Legal 12/21/10
14. Economic: High Tax Rates Take-home pay Government subsidies and mandates Less emphasis on results based compensation “Add-ons” -- one month’s pay, bonus, “vesting of benefits,” all of which affect cost of labor. Short-term versus longer term results. Thomas E. Murphy 15 Factors - Economic 12/21/10
15. Vocationally trained work force Education levels Work ethics, team, or individual Labor intensive vs.. technology Dependency Ratio Incentives (extrinsic vs. intrinsic) Work-life balance Thomas E. Murphy 16 Factors – Human Capital 12/21/10
16. How do your values and administrative procedures fit? Power and Distance Individual vs. Collective Risk Tolerance Masculinity Pay relationships between executives and workers Thomas E. Murphy 17 Factors: Culture 12/21/10
17. National government taxes, finances, sets budgets, and distributes health care funds through regional health agencies. All agencies are not for profit There are limited means to effect competition The national government sets standards, plan of benefits, coverage requirement, and the reimbursement levels Thomas E. Murphy 18 Europe – Health Care 12/21/10
18. Less reliance on employer sponsored benefits and widespread acceptance of universal health and retirement plans – financed by employers and taxpayers, or both. Result: basic health care is accessible to all. Thomas E. Murphy 19 And, for our purposes . . . 12/21/10
19. Result: there is more reliance on a national social security retirement income to replace income from work Less reliance on the use of capital markets to fund retirement benefits Thomas E. Murphy 20 And . . 12/21/10
20. How do other countries approach publicly funded health and retirement plans? What impact does this have on business? Does it mean higher taxes? Higher labor costs? What are the approaches employers take with respect to the compensation and benefits of expatriate workers in host countries? Thomas E. Murphy 21 So . . . There are three issues: 12/21/10
22. In the U.S. families (a) save for their children’s college education costs; (b) save for their own retirement, and (c) must share in some of the expense of their health care. Thomas E. Murphy 23 We should note: 12/21/10
23. These are paid for by the government and financed by individual and business taxes. Thomas E. Murphy 24 In many other countries 12/21/10
24. Long history of providing health care through the government sponsorship or mandates Universal access for all residents The mandated plan should provide comprehensive benefits sufficient to alleviate sickness and suffering. Cost sharing should not impede point of service care Thomas E. Murphy 25 Europe – some general principles 12/21/10
25. If possible, choice of physician should be preserved. Primary care should be the centerpiece of care. This better assures long term health. There should be cross border coordination among EU countries. Plans should assure accountability, efficiency, and quality. Thomas E. Murphy 26 Europe – some general principles 12/21/10
26. National government determines capital expenditures for hospitals and awards for research. Most doctors are private but are reimbursed by the government for services rendered. Some countries employ most doctors as government providers. In most countries, the patient can choose to see a provider outside the system. Thomas E. Murphy 27 Europe – some general principles 12/21/10
27. In such cases, the doctor will be paid directly by the patient or by his private insurance company. In many cases, the national system only reimburses the prescribed payment for certain treatment or service. If the doctor chooses to charge more, the patient or his private, supplemental insurance company must pay the difference. Thomas E. Murphy 28 Europe – some general principles 12/21/10
28. Almost in all cases, the reimbursement is made on a “fee for service” basis. In some countries, the physician might be paid a per capita fee based upon the number of “patients” in his or her region. In many countries, the public health care is administered in hospitals. There are few integrated practices in European countries. The Milan (Lombardia) experiment. Thomas E. Murphy 29 Europe – some general principles 12/21/10
29. In many countries, if the patient wants quicker service, and choice, he pays for them outside of the national plan. R/x care is often included but government uses leverage to reduce prices. Thomas E. Murphy 30 Europe – some general principles 12/21/10
30. In come countries, the health care plan is mandated upon employers to provide. They must choose from several TPAs in their region. The plan of benefits is set by the government. The TPAs are non-profit. For the unemployed, the government subsidizes the acquisition from among the same TPA. See Exhibit Tables 13.1, 13.2 comparing designs and outcomes. Thomas E. Murphy 31 Europe – some general principles 12/21/10
31. Payroll taxes paid by employers and employees The Value Added Tax General tax revenue In few cases, regional tax revenue There is a growing but still limited imposition of POS co-pays by patients Thomas E. Murphy 32 Sources of Benefit Financing (Europe) 12/21/10
33. See: BLS International Wage Survey (3.1, 3.3) Estimates: France, employee earning €3000 per month, pays €350 for health care, and the employer pays €1200 per month. Labor Costs 12/21/10 Thomas E. Murphy 34
34. The budgeting process catches many providers short for the year – result poor or delayed service. The reimbursement levels are too low No market encouragement for research and development Spiraling costs – no limits or barriers to the utilization of health care resources. Efficacy: longevity, infant mortality, costs, survival rates for critical conditions Thomas E. Murphy 35 Some issues - 12/21/10
35. In Japan where there is a European style national health care plan: 50% of the hospitals are bankrupt because of inadequate revenue from the government to cover the burgeoning number of patient services. The average elapsed time for a patient to see a primary physician is 3 minutes. Thomas E. Murphy 36 For example . . . 12/21/10
36. Some good, mandated programs in large cities typically applied to employees among state and collective enterprises or government owned facilities. But, 50% of its urban, and 90% of its rural population (total of 66%) are not covered. About 75% of the population pays for its own health care. In many cases, the cost of services equals one year’s pay. Thomas E. Murphy 37 What about China? 12/21/10
37. The China system is plagued with evidence of corruption (bribes are often paid to get services), long waits, and poor service. New initiatives are under way to reform the system – in some cases using HSA-type accounts. Financing of the existing system is made through employer payroll taxes that are inadequate (7%). Thomas E. Murphy 38 What about China? 12/21/10
38. With respect to financing, in China 66% of the population pay 90% of the total health care costs. Efficacy is below standards: life expectancy, infant mortality are especially a problem Thomas E. Murphy 39 What about China? 12/21/10
39. No mandated health care for private employers. There is no substantial health care insurance industry in China. There is considerable waste in the system, and hospitals, for example, are expected to generate 70% of the operating revenue. Thomas E. Murphy 40 What about China? 12/21/10
41. Social Security related to work Periods of non-work, however, can be counted for eligibility and benefit amount. All systems (few exceptions) are PAYGO Formula is based on final pay, years of contributions, and age. Employer and employee make contributions Thomas E. Murphy 42 Europe – Social Security 12/21/10
42. Thomas E. Murphy 43 Europe – Social Security-general principles and characteristics 12/21/10
43. There are often several funds that pay retirement – a minimum plan that is paid to everyone who qualifies and the amount is the same. They may also receive a supplemental plan that is calculated based upon his average earnings. (France) The person’s employer may also have contributed to a private plan that will provide benefits. This is not as common as in the U.S. Thomas E. Murphy 44 Europe – Social Security-general principles and characteristics 12/21/10
44. Many Social Security plans are segmented and differentiated by industry. Many countries do have a flat retirement amount that will be paid regardless of earnings. In many European countries, the three pillar concept is applicable: government, employer, and employee are expected to finance retirement. Thomas E. Murphy 45 Europe – Social Security-general principles and characteristics 12/21/10
45. Most plans are PAYGO, but some countries are beginning to invest portion of the revenue in capital markets. Several Eastern European countries have introduced private accounts where part of the payroll tax can be invested by the participant in capital markets. Some European countries have mandate additional, employer sponsored plans with specific design features. Thomas E. Murphy 46 Europe – Social Security-general principles and characteristics 12/21/10
46. Some countries have mandated employer sponsored defined contribution plans as well. Thomas E. Murphy 47 Europe – Social Security-general principles and characteristics 12/21/10
47. People retiring earlier People living longer The Social Security systems are running out of money. Reform: reduce benefits, increase retirement age, increase work years requirement, increase payroll taxes, reduce benefit, make fewer inflation adjustments. Coordination among EU countries. Thomas E. Murphy 48 Europe: so what’s the problem? 12/21/10
48. The current program is in response to the new market economy. There is mandated coverage for about 2% of the population (urban, employed); rural population has no coverage. It is a PAYGO system financed by 28% payroll tax (20% from employer, 8% from employee) There are large numbers of “legacy” employees covered and there are no contributions for many of their service years. Thomas E. Murphy 49 China and retirement? 12/21/10
49. There are some “personal accounts” included in the design. It is a supplement to the pension and grows with added service. The plan is underfunded because of legacy costs. Retirement age is 60 for males and 55 for females. Minimum service requirement: 15 years Base pension pays on average about 20% of final pay. Thomas E. Murphy 50 China and retirement? 12/21/10
50. Benefits are indexed. Plan is available, but not mandated, for foreign, private, and other enterprises in urban areas. The plan does not apply to former workers who are not currently in the system. There are huge differences between pension amounts of government workers and those of other enterprises – gov’t as much as 8 times. Thomas E. Murphy 51 China and retirement? 12/21/10
51. China’s rapid economic rise, and transitioning transition from producer to consumer market. However, it does not have social security (retirement or health care) infrastructure to support its market role and the inherent volatility it brings to the business and labor market. Thomas E. Murphy 52 China and retirement? 12/21/10
52. Transitioned from PAYGO to private accounts in 1981. Financed by payroll contributions and investments in capital markets Each participant has private account representing payroll tax contributions by employer and employee. Each worker contributes 10% of earnings; there is a cap. Thomas E. Murphy 53 Chile and Private Accounts 12/21/10
53. There is a guaranteed floor plan that is paid if the participant’s investments fail. Employer is not obligated but can contribute; there is tax-favored treatment. There are 12 funds to choose from as well as age-based investment guides. Participants at retirement can elect pre-determined withdrawals or an annuity. Thomas E. Murphy 54 Chile and Private Accounts 12/21/10
54. The Chilean plan has high administrative costs. It has generally been regarded as a success. New investment made in the Chilean capital markets. It places investment risks on participants. The system is financially sound. Sweden, 7 eastern European countries, the U.K. and Germany have introduced some form of private accounts. Thomas E. Murphy 55 Chile and Private Accounts 12/21/10
55. What impact do Social Security and Health Care systems have on overall labor costs? Higher labor costs in Western European countries than in the U.S. Direct relationship to higher payroll taxes used to finance such benefits. China is well below western levels. See Table 13.4 Thomas E. Murphy 56 How do labor costs compare? 12/21/10
56. Expatriates What is their pay? What are their benefits?
57. Technology transfer Lack of talent in country Consistent application of company policies Succession plan/Diversity management Direct learning about the country Thomas E. Murphy 58 Expatriates – The Issues 12/21/10
58. The Palestinians (and Israelis) Economic incentives (QIZ) Madaba tour Abe Lincoln essay Career – shirt, tie, government Brainstorming 12/21/10 Thomas E. Murphy 59 Jordan, France, and Italy
59. No meetings outside of the plant No delegation No agenda IBM No accounting or knowledge of costs Auto Accident No addresses Ramadan and off-days. Hugs for Hesham Excuses – Ottomans Conspiracies and mistrust of government – Egypt Air 12/21/10 Thomas E. Murphy 60 More . . .
60. WASTA Egypt Air In the “black.” The Notary and the Germans Driving exam Bulgarian and contract to buy Memorization 12/21/10 Thomas E. Murphy 61 Jordan, France, Italy
61. Jordan, France, and Italy All is in the “Black!’ Family is very important Work, Life Balance Don’t let them wear hats! Women – put your picture on your CV! House builder’s pride Slow food Bi-lingual Entrepreneurial Residency process 12/21/10 Thomas E. Murphy 62
62. Lessons Learned Face is important! Some great values . . . Business is often based upon building relationships – be patient and respectful. Cultural differences often are based upon enmity between ethnic groups. They can torpedo typical business incentives. Bureaucracy is overwhelming – enforcement is not. Tax avoidance is rampant – and one is encouraged to avoid tax compliance. Family takes precedence over government. 12/21/10 Thomas E. Murphy 63
63. Passport Technical Expertise Cultural sensitivity Required experience for promotion - part of the succession plan Thomas E. Murphy 64 Expatriates – Selection 12/21/10
64. Cultural protocols Religion Language Country economics Host country politics Very little done before the assignment Thomas E. Murphy 65 Expatriates - Training 12/21/10
65. What is the goal? What about cost of living? Make-whole policy? (“Balance Sheet”) The host-country policy? (“Market Rate”) Thomas E. Murphy 66 Expatriate Compensation 12/21/10
68. Factors that Affect Design Tax Laws (U.S. and Host Country) Employment and Social Insurance Laws Currency Fluctuations Cost of goods, services, transportation Culture and traditions What about the Benefits Model? Thomas E. Murphy 69 Expatriate Pay 12/21/10
69. Estimated to be 2-to-3 times salary at parent location. Includes COL adjustments, home leave, transportation, housing, education. Must be attractive to entice move. Compensation consistent with company policy. Thomas E. Murphy 70 Expatriate Pay Cost 12/21/10
70. How, and from where, will pay be delivered? In what currency? Evacuation – emergency (political or medical). Working hours and public holidays. International Compensation! Thomas E. Murphy 71 Compensation Details 12/21/10
71. Health Care Temporary living quarters. Rent or buy? Travel expenses. Shipment and storage. Driver’s License, insurance Work Visa Thomas E. Murphy 72 Foreign Assignment Issues 12/21/10
72. Spouse and family accommodations, schools, careers, volunteering, leisure time. Should expatriate continue to participate in parent company benefit plans? Which ones? Thomas E. Murphy 73 Foreign Assignment Issues 12/21/10
73. What do you do about rewards that are U.S. based and results are determined by U.S. operations? What are the advantages and disadvantages of balance sheet vs. host country approaches? Remember: the U.S. considers income of its citizens and residents to be taxable no matter where it is earned! Thomas E. Murphy 74 Expatriates 12/21/10
74. Thomas E. Murphy 75 Approaches to Expatriates 12/21/10 We will make You whole! You will get What they get! Well. . .
75. Advantages Equity between assignments and other expatriates in same country. Facilitates expatriate reentry. Easy to communicate. Disadvantages Disparities among TCNs and HCNs. Can be complex to administer. Very Expensive Thomas E. Murphy 76 Balance Sheet . . . 12/21/10
76. Advantages Equality with HCNs. Simplicity Identify with host country. Equity among different nationalities. Disadvantages Variation between assignments. Variation between expatriates of same nationality in different countries. Thomas E. Murphy 77 Market Rate . . . 12/21/10
77. See: The Milan case (443-447) Let’s analyze the adjustments that would be required. Your apartment is ready : 12/21/10 Thomas E. Murphy 78 Remedy – a series of adjustments!
78. Assignment could result in double taxation by U.S. and host country. Most companies have Tax Equalization Policy –withhold an amount equal to home country of expatriate and company pays the rest. §911 of the IRC = $91,400 (FEI Deduction) What about Social Security taxes? What about Value Added taxes in host country? Thomas E. Murphy 79 Tax Issues 12/21/10
79. Career blockage Essential for promotion Burnout Family issues Technical vs. leadership talent BIG Difficulties on return 12/21/10 Thomas E. Murphy 80 Expatriates - Other Issues
80. Length of assignment Defining “success and failure” Trailing spouses How to establish MBOs or other Performance Management factors, e.g., different accounting, long-term goals, manager’s role, who conducts review? Thomas E. Murphy 81 Other Issues 12/21/10
81. Thomas E. Murphy 82 ExpatriateApproaches Select the best based upon careful research of cross-cultural sensitivity issues. There is no “universal” management style, but there are generic competencies to consider. Provide resources for housing location, spouse “development,” kids education. 12/21/10
82. Some ideas . . . I miss Italy, but I’m . . . Am glad to be back! Provide significant cultural orientation. Make sure expatriates are prepared for trade union issues in the new country. Make a pre-assignment trip. Plan for reentry – avoid the typical problems 12/21/10 Thomas E. Murphy 83