Accounting Class, pick topic below Essay Example | Topics and Well Written Essays - 2000 words

Accounting Class, pick topic below - Essay Example While some individuals intend to work for as long as they can, particularly because idleness and loss of accustomed status can bring depression, illness, and even early death, it is always pleasant to contemplate that one has a nest egg to fall back on when a contingency or extreme need for money arises. "Whatever your situation - even if you want to continue working - youll need to do some planning for the future." (Shwab-Pomerantz & Schwab, 2002). Thus everyone should begin to plan for retirement even during the first few years of employment or starting a business. Retirement planning, according to the Small Business Encyclopedia, describes the financial strategies individuals employ during their working years to ensure that they will meet their goals for financial security upon retirement. This applies to self-employed persons, small business owners, and employees of companies large and small (Retirement planning, SBE) Retirement planning was unknown prior to the twentieth century because the US national economy and presumably the economies in other parts of the world were still predominantly agrarian. Farmers toiling in the fields continued to work until they could no longer do physical labor, and transferred ownership and management of their properties to their eldest children in return for services to them during their old age (US History Encyclopedia). Even with the onset of industrialization, there were still a limited number of employees, and farming continued to dominate as a means of livelihood. As workers aged, they continued to work using their skills and wisdom in lieu of strength and stamina to remain employed in their later years. (Retirement planning, US) Later, because of concerns about productivity and efficiency in the workplace, it was deemed necessary to replace aging workers with young and strong ones. There was concern and apprehension about these

Analyze Abbott Laboratory's strategic response to compulsory licensing Article

Analyze Abbott Laboratory's strategic response to compulsory licensing - Article Example Abbott laboratory strategically responded to compulsory licensing by publicly announcing that it is going to withdraw the pending applications for selling current medicines in Thailand. Applications for seven medicines were withdrawn by Abbott. The medicines which Abbott withdrew their applications were Aluvia, Brufen, Abbotic, Clivarine, Humira, Tarka and Zemplar. It decided not to introduce new drugs in Thailand since the actions displayed by Thailand’s government did not respect patents. Several advantages and disadvantages can be associated with abbot laboratory’s strategic response to compulsory licensing (Baron, 2008). Strategic response employed by Abbot Laboratory proved to be advantageous since it created room for negotiation. Abbott’s strategic response made Thailand government to realize how important the organization is in pharmaceutical industry. Its strategic response made Thailand government to raise several complaints. This therefore made world health organization to intervene and discussed with Abbott on how to market its products in developing countries, including Thailand. Abbott’s strategic response also had some weaknesses. The response had a serious effect on patients. It deprived innocent individuals who seriously required lifesaving drugs. The strategic response also showed that Abbott laboratory lacks social responsibility and only mind about maximizing its profits. From the discussion, it is clear that Thailand easily issued compulsory licensing for Abbott laboratory product, causing the organization to angrily react. Abbott angrily reacted to the action by stopping introducing new medicines in Thailand. This strategic response created room for negotiation and caused serious effects on patients and company’s