1,The Fine Garments Company sells fashion clothing. The forecasted annual demand for their premium leather jacket is 2,000. The order-processing cost per order is $40, and the inventory holding cost is $35/item/year. How many leather jackets should they order in one shipment?

2.The Fine Garments Company wants to use a reorder point system. To allow for uncertainties in delivery and customer demand, it wishes to hold four weeks of demand as safety stock. What should its reorder point be if the delivery lead time is two weeks, based on the calculated order quantity?

3.Design a periodic inventory control system for the Fine Garments Company if it wishes to hold five weeks of demand as safety stock. If on a review the inventory of the premium leather jacket is 102, how many leather jackets should be ordered?

Make this like an Q&A. Follow the rubric.

Portfolio 13.3: Parent Contrast Essay

Your essay should contain five well-developed paragraphs, and that includes an introduction paragraph, three main idea paragraphs, and a concluding paragraph. Your essay topic is the following:

Contrast Atticus, Bob Ewell, and Walter Cunningham as parents.

Your essay’s outline should be set up in this way:

• Paragraph 1: Introduction
• Paragraph 2: Atticus as a parent
• Paragraph 3: Bob Ewell as a parent
• Paragraph 4: Walter Cunningham as a parent
• Paragraph 5: Conclusion

This essay will be submitted in portfolio 3. Your essay is required to be typed, double-spaced in Times New Roman font, size 12.

Please format and submit your assignment according to the instructions in the syllabus.

“Using Words Well” Please respond to the following:

• Review the section on using words ethically in Communication in the Real World, Chapter 3.3; then, identify a situation where you believe language could be used unethically in academic, professional, or personal contexts. Next, suggest three (3) ways your example relates to civility, polarizing language, swearing, or accountability.

chapter 3.3

are unfamiliar. Emotions and distractions can also interfere with our clarity. Being aware of the varying levels of abstraction within language can help us create clearer and more “whole” messages.

Level of Abstraction

The ladder of abstraction is a model used to illustrate how language can range from concrete to abstract. As we follow a concept up the ladder of abstraction, more and more of the “essence” of the original object is lost or left out, which leaves more room for interpretation, which can lead to misunderstanding. This process of abstracting, of leaving things out, allows us to communicate more effectively because it serves as a shorthand that keeps us from having a completely unmanageable language filled with millions of words—each referring to one specific thing. ^[1] But it requires us to use context and often other words to generate shared meaning. Some words are more directly related to a concept or idea than others. If I asked you to go take a picture of a book, you could do that. If I asked you to go and take a picture of “work,” you couldn’t because work is an abstract word that was developed to refer to any number of possibilities from the act of writing a book, to repairing an air conditioner, to fertilizing an organic garden. You could take a picture of any of those things, but you can’t take a picture of “work.”

Figure 3.2 Ladder of Abstraction

Source: Adapted from S. I. Hayakawa and Alan R. Hayakawa, Language in Thought and Action, 5th ed. (San Diego, CA: Harcourt Brace, 1990), 85.

You can see the semanticist S. I. Hayakawa’s classic example of the abstraction ladder with “Bessie the cow” in Figure 3.2 “Ladder of Abstraction”. ^[2] At the lowest level, we have something that is very concrete. At this level we are actually in the moment of experiencing the stimuli that is coming in through our senses. We perceive the actual “thing,” which is the “cow” in front of us (either in person or as an image). This is concrete, because it is unmediated, meaning it is actually the moment of experience. As we move up a level, we give the experience a name—we are looking at “Bessie.” So now, instead of the direct experience with the “thing” in front of us, we have given the thing a name, which takes us one step away from the direct experience to the use of a more abstract symbol. Now we can talk and think about Bessie even when we aren’t directly experiencing her. At the next level, the word cow now lumps Bessie in with other bovine creatures that share similar characteristics. As we go on up the ladder, cow becomes livestock, livestock becomes an asset, and then an asset becomes wealth. Note that it becomes increasingly difficult to define the meaning of the symbol as we go up the ladder and how with each step we lose more of the characteristics of the original concrete experience.

When shared referents are important, we should try to use language that is lower on the ladder of abstraction. Being intentionally concrete is useful when giving directions, for example, and can help prevent misunderstanding. We sometimes intentionally use abstract language. Since abstract language is often unclear or vague, we can use it as a means of testing out a potential topic (like asking a favor), offering negative feedback indirectly (to avoid hurting someone’s feelings or to hint), or avoiding the specifics of a topic.

Definitions and Clarity

Knowing more about the role that abstraction plays in the generation of meaning can help us better describe and define the words we use. As we learned earlier, denotative definitions are those found in the dictionary—the official or agreed-on definition. Since definitions are composed of other words, people who compile dictionaries take for granted that there is a certain amount of familiarity with the words they use to define another word—otherwise we would just be going in circles. One challenge we face when defining words is our tendency to go up the ladder of abstraction rather than down. ^[3] For example, if I asked you to define the word blue, you’d likely say it’s a color. If I asked you what a color is, you’d tell me it’s a tint or characteristic of the appearance of a particular thing. To define more clearly, by going down the ladder of abstraction, you could say, “It’s the color of Frank Sinatra’s eyes,” or “It’s what the sky looks like on a clear day.” People often come to understanding more quickly when a definition is descriptive and/or ties into their personal experiences. Definitions aren’t useless, but they are usually best when paired with examples. You’ll notice that I include many key terms and definitions in this book, but knowing some of the challenges of generating meaning through language, I also include many examples and narratives that come from real life. Jargon refers to specialized words used by a certain group or profession. Since jargon is specialized, it is often difficult to relate to a diverse audience and should therefore be limited when speaking to people from outside the group—or at least be clearly defined when it is used.

Creating Whole Messages

Earlier we learned about the four types of expressions, which are observations, thoughts, feelings, and needs. Whole messages include all the relevant types of expressions needed to most effectively communicate in a given situation, including what you see, what you think, what you feel, and what you need. ^[4] Partial messages are missing a relevant type of expression and can lead to misunderstanding and conflict. Whole messages help keep lines of communication open, which can help build solid relationships. On the other hand, people can often figure out a message is partial even if they can’t readily identify what is left out. For example, if Roscoe says to Rachel, “I don’t trust Bob anymore,” Rachel may be turned off or angered by Roscoe’s conclusion (an expression of thought) about their mutual friend. However, if Roscoe recounted his observation of Bob’s behavior, how that behavior made him feel, and what he needs from Rachel in this situation, she will be better able to respond.

While partial messages lack relevant expressions needed to clearly communicate, contaminated messages include mixed or misleading expressions. ^[5] For example, if Alyssa says to her college-aged daughter, “It looks like you wasted another semester,” she has contaminated observations, feelings, and thoughts. Although the message appears to be an observation, there are underlying messages that are better brought to the surface. To decontaminate her message, and make it more whole and less alienating, Alyssa could more clearly express herself by saying, “Your dad and I talked, and he said you told him you failed your sociology class and are thinking about changing your major” (observation). “I think you’re hurting your chances of graduating on time and getting started on your career” (thought). “I feel anxious because you and I are both taking out loans to pay for your education” (feeling).

Messages in which needs are contaminated with observations or feelings can be confusing. For example, if Shea says to Duste, “You’re so lucky that you don’t have to worry about losing your scholarship over this stupid biology final,” it seems like he’s expressing an observation, but it’s really a thought, with an underlying feeling and need. To make the message more whole, Shea could bring the need and feeling to the surface: “I noticed you did really well on the last exam in our biology class” (observation). “I’m really stressed about the exam next week and the possibility of losing my scholarship if I fail it” (feeling). “Would you be willing to put together a study group with me?” (need). More clarity in language is important, but as we already know, communication isn’t just about exchanging information—the words we use also influence our emotions and relationships.

Using Words Affectively

Affective language refers to language used to express a person’s feelings and create similar feelings in another person. ^[6] Affective language can be intentionally used in relational contexts to create or enhance interpersonal bonds and can also be effectively employed in public speaking to engage an audience and motivate them in particular ways. We also use affective language spontaneously and less intentionally. People who “speak from the heart” connect well with others due to the affective nature of their words. Sometimes people become so filled with emotion that they have to express it, and these exclamations usually arouse emotions in others. Hearing someone exclaim, “I’m so happy!” can evoke similar feelings of joy, while hearing someone exclaim, “Why me!?” while sobbing conjures up similar feelings of sadness and frustration. There are also specific linguistic devices that facilitate affective communication.

Affective language expresses a person’s feelings and creates similar feelings in another person.

© Thinkstock

Figurative Language

When people say something is a “figure of speech,” they are referring to a word or phrase that deviates from expectations in some way in meaning or usage. ^[7] Figurative language is the result of breaking semantic rules, but in a way that typically enhances meaning or understanding rather than diminishes it. To understand figurative language, a person has to be familiar with the semantic rules of a language and also with social norms and patterns within a cultural and/or language group, which makes it difficult for nonnative speakers to grasp. Figurative language has the ability to convey much meaning in fewer words, because some of the meaning lies in the context of usage (what a listener can imply by the deviation from semantic norms) and in the listener (how the listener makes meaning by connecting the figurative language to his or her personal experience). Some examples of figurative speech include simile, metaphor, and personification.

A simile is a direct comparison of two things using the words like or as. Similes can be very explicit for the purpose of conveying a specific meaning and can help increase clarity and lead people to personally connect to a meaning since they have to visualize the comparison in their mind. For example, Forrest Gump’s famous simile, “Life is like a box of chocolates. You never know what you’re gonna get,” conjures up feelings of uncertainty and excitement. More direct similes like “I slept like a baby” and “That bread was hard as a rock” do not necessarily stir the imagination but still offer an alternative way of expressing something.

A metaphor is an implicit comparison of two things that are not alike and/or are not typically associated. They become meaningful as people realize the speaker’s purpose for relating the two seemingly disparate ideas. Metaphors are figurative devices that can make our writing and speaking richer, but they require a person to balance creative associations among ideas with the common rules of the language if people are expected to figure out the meaning behind the association. A speaker must have the linguistic knowledge and insight to realize when a nonliteral use of words or ideas will be more meaningful than a literal and conventional use of those words. Metaphors challenge the imagination, which can cause each person to make sense of the metaphor in his or her own way. ^[8]

In 1946, just after World War II ended, Winston Churchill stated the following in a speech: “An iron curtain has descended across the continent of Europe.” Even though people knew there was no literal heavy metal curtain that had been lowered over Europe, the concepts of iron being strong and impenetrable and curtains being a divider combined to create a stirring and powerful image of a continent divided by the dark events of the previous years. ^[9] Some communication scholars argue that metaphors serve a much larger purpose and function to structure our human thought processes. ^[10] The metaphor “time is money” doesn’t just represent an imaginative connection; it shapes our social realities. We engage in specific actions that “save time,” “spend time,” or “waste time” because we have been socialized to see time as a resource.

Many metaphors spring from our everyday experiences. For example, many objects have been implicitly compared to human body parts; for example, we say a clock has hands and a face. Personification refers to the attribution of human qualities or characteristics of other living things to nonhuman objects or abstract concepts. This can be useful when trying to make something abstract more concrete and can create a sense of urgency or “realness” out of something that is hard for people to conceive. Personification has been used successfully in public awareness campaigns because it allows people to identify with something they think might not be relevant to them, as you can see in the following examples: “Human papillomavirus (HPV) is a sleeping enemy that lives in many people and will one day wake up and demand your attention if you do not address it now.” “Crystal meth is stalking your children whether you see it or not. You never know where it’s hiding.”

Evocative Language

Vivid language captures people’s attention and their imagination by conveying emotions and action. Think of the array of mental images that a poem or a well-told story from a friend can conjure up. Evocative language can also lead us to have physical reactions. Words like shiver and heartbroken can lead people to remember previous physical sensations related to the word. As a speaker, there may be times when evoking a positive or negative reaction could be beneficial. Evoking a sense of calm could help you talk a friend through troubling health news. Evoking a sense of agitation and anger could help you motivate an audience to action. When we are conversing with a friend or speaking to an audience, we are primarily engaging others’ visual and auditory senses. Evocative language can help your conversational partner or audience members feel, smell, or taste something as well as hear it and see it. Good writers know how to use words effectively and affectively. A well-written story, whether it is a book or screenplay, will contain all the previous elements. The rich fantasy worlds conceived in Star Trek, The Lord of the Rings, Twilight, and Harry Potter show the power of figurative and evocative language to capture our attention and our imagination.

Some words are so evocative that their usage violates the social norms of appropriate conversations. Although we could use such words to intentionally shock people, we can also use euphemisms, or less evocative synonyms for or indirect references to words or ideas that are deemed inappropriate to discuss directly. We have many euphemisms for things like excretory acts, sex, and death. ^[11] While euphemisms can be socially useful and creative, they can also lead to misunderstanding and problems in cases where more direct communication is warranted despite social conventions.

“Getting Competent”

Using Words Well

This chapter discusses several playful, creative, and engaging aspects of verbal communication. Employing language in an engaging way requires some effort for most people in terms of learning the rules of a language system, practicing, and expanding your vocabulary and expressive repertoire. Only milliseconds pass before a thought is verbalized and “out there” in the world. Since we’ve already learned that we have to be accountable for the short- and long-term effects of our communication, we know being able to monitor our verbal communication and follow the old adage to “think before we speak” is an asset. Using language for effect is difficult, but it can make your speech unique whether it is in a conversation or in front of a larger audience. Aside from communicating ideas, speech also leaves lasting impressions. The following are some tips for using words well that can apply to various settings but may be particularly useful in situations where one person is trying to engage the attention of an audience.

• Use concrete words to make new concepts or ideas relevant to the experience of your listeners.
• Use an appropriate level of vocabulary. It is usually obvious when people are trying to speak at a level that is out of their comfort zone, which can hurt credibility.
• Avoid public speeches that are too rigid and unnatural. Even though public speaking is more formal than conversation, it is usually OK to use contractions and personal pronouns. Not doing so would make the speech awkward and difficult to deliver since it is not a typical way of speaking.
• Avoid “bloating” your language by using unnecessary words. Don’t say “it is ever apparent” when you can just say “it’s clear.”
• Use vivid words to paint mental images for your listeners. Take them to places outside of the immediate setting through rich description.
• Use repetition to emphasize key ideas.
• When giving a formal speech that you have time to prepare for, record your speech and listen to your words. Have your outline with you and take note of areas that seem too bland, bloated, or confusing and then edit them before you deliver the speech.

1. What are some areas of verbal communication that you can do well on? What are some areas of verbal communication that you could improve?
2. Think of a time when a speaker’s use of language left a positive impression on you. What concepts from this chapter can you apply to their verbal communication to help explain why it was so positive?
3. Think of a time when a speaker’s use of language left a negative impression on you. What concepts from this chapter can you apply to their verbal communication to help explain why it was so negative?

Using Words Ethically

We learned in Chapter 1 “Introduction to Communication Studies” that communication is irreversible. We also learned that, among other things, the National Communication Association’s “Credo for Ethical Communication” states that we should be accountable for the long- and short-term effects of our communication. ^[12] The way we talk, the words we choose to use, and the actions we take after we are done speaking are all important aspects of communication ethics. Earlier we learned that language is performative, meaning that it can exceed the exchange of information and actually perform certain actions. Knowing that language can have real effects for people increases our need to be aware of the ethical implications of what we say. Hate speech and bias are important aspects of communication ethics that will be discussed more in Section 3.4 “Language, Society, and Culture” on language and culture. In this section, we will focus on civility and accountability.

Civility

Our strong emotions regarding our own beliefs, attitudes, and values can sometimes lead to incivility in our verbal communication. Incivility occurs when a person deviates from established social norms and can take many forms, including insults, bragging, bullying, gossiping, swearing, deception, and defensiveness, among others. ^[13] Some people lament that we live in a time when civility is diminishing, but since standards and expectations for what is considered civil communication have changed over time, this isn’t the only time such claims have been made. ^[14] As individualism and affluence have increased in many societies, so have the number of idiosyncratic identities that people feel they have the right to express. These increases could contribute to the impression that society is becoming less civil, when in fact it is just becoming different. As we learned in our section on perception and personality, we tend to assume other people are like us, and we may be disappointed or offended when we realize they are not. Cultural changes have probably contributed to making people less willing to engage in self-restraint, which again would be seen as uncivil by people who prefer a more restrained and self-controlled expression. ^[15]

Some journalists, media commentators, and scholars have argued that the “flaming” that happens on comment sections of websites and blogs is a type of verbal incivility that presents a threat to our democracy. ^[16] Other scholars of communication and democracy have not as readily labeled such communication “uncivil.” ^[17] It has long been argued that civility is important for the functioning and growth of a democracy. ^[18] But in the new digital age of democracy where technologies like Twitter and Facebook have started democratic revolutions, some argue that the Internet and other new media have opened spaces in which people can engage in cyberactivism and express marginal viewpoints that may otherwise not be heard. ^[19] In any case, researchers have identified several aspects of language use online that are typically viewed as negative: name-calling, character assassination, and the use of obscene language. ^[20] So what contributes to such uncivil behavior—online and offline? The following are some common individual and situational influences that may lead to breaches of civility: ^[21]

• Individual differences. Some people differ in their interpretations of civility in various settings, and some people have personality traits that may lead to actions deemed uncivil on a more regular basis.
• Ignorance. In some cases, especially in novel situations involving uncertainty, people may not know what social norms and expectations are.
• Lack of skill. Even when we know how to behave, we may not be able to do it. Such frustrations may lead a person to revert to undesirable behavior such as engaging in personal attacks during a conflict because they don’t know what else to do.
• Lapse of control. Self-control is not an unlimited resource. Even when people know how to behave and have the skill to respond to a situation appropriately, they may not do so. Even people who are careful to monitor their behavior have occasional slipups.
• Negative intent. Some people, in an attempt to break with conformity or challenge societal norms, or for self-benefit (publicly embarrassing someone in order to look cool or edgy), are openly uncivil. Such behavior can also result from mental or psychological stresses or illnesses.

Polarizing Language

Philosophers of language have long noted our tendency to verbally represent the world in very narrow ways when we feel threatened. ^[22] This misrepresents reality and closes off dialogue. Although in our everyday talk we describe things in nuanced and measured ways, quarrels and controversies often narrow our vision, which is reflected in our vocabulary. In order to maintain a civil discourse in which people interact ethically and competently, it has been suggested that we keep an open mind and an open vocabulary.

One feature of communicative incivility is polarizing language, which refers to language that presents people, ideas, or situations as polar opposites. Such language exaggerates differences and overgeneralizes. Things aren’t simply black or white, right or wrong, or good or bad. Being able to only see two values and clearly accepting one and rejecting another doesn’t indicate sophisticated or critical thinking. We don’t have to accept every viewpoint as right and valid, and we can still hold strongly to our own beliefs and defend them without ignoring other possibilities or rejecting or alienating others. A citizen who says, “All cops are corrupt,” is just as wrong as the cop who says, “All drug users are scum.” In avoiding polarizing language we keep a more open mind, which may lead us to learn something new. A citizen may have a personal story about a negative encounter with a police officer that could enlighten us on his or her perspective, but the statement also falsely overgeneralizes that experience. Avoiding polarizing language can help us avoid polarized thinking, and the new information we learn may allow us to better understand and advocate for our position. Avoiding sweeping generalizations allows us to speak more clearly and hopefully avoid defensive reactions from others that result from such blanket statements.

Swearing

Scholars have identified two main types of swearing: social swearing and annoyance swearing. ^[23] People engage in social swearing to create social bonds or for impression management (to seem cool or attractive). This type of swearing is typically viewed as male dominated, but some research studies have shown that the differences in frequency and use of swearing by men and women aren’t as vast as perceived. Nevertheless, there is generally more of a social taboo against women swearing than men, but as you already know, communication is contextual. Annoyance swearing provides a sense of relief, as people use it to manage stress and tension, which can be a preferred alternative to physical aggression. In some cases, swearing can be cathartic, allowing a person to release emotions that might otherwise lead to more aggressive or violent actions.

In the past few decades, the amount of profanity used in regular conversations and on television shows and movies has increased. This rise has been connected to a variety of factors, including increasing social informality since the 1960s and a decrease in the centrality of traditional/conservative religious views in many Western cultures. ^[24] As a result of these changes, the shock value that swearing once had is lessening, and this desensitization has contributed to its spread. You have probably even noticed in your lifetime that the amount of swearing on television has increased, and in June of 2012 the Supreme Court stripped the Federal Communications Commission of some of its authority to fine broadcasters for obscenities. ^[25] There has also been a reaction, or backlash, to this spread, which is most publicly evidenced by the website, book, and other materials produced by the Cuss Control Academy (http://www.cusscontrol.com). ^[26] Although swearing is often viewed as negative and uncivil, some scholars argue for its positive effects. ^[27] Specifically, swearing can help people to better express their feelings and to develop social bonds. In fact, swearing is typically associated more with the emotional part of the brain than the verbal part of the brain, as evidenced by people who suffer trauma to the verbal part of their brain and lose all other language function but are still able to swear. ^[28]

Accountability

The complexity of our verbal language system allows us to present inferences as facts and mask judgments within seemingly objective or oblique language. As an ethical speaker and a critical listener, it is important to be able to distinguish between facts, inferences, and judgments. ^[29] Inferences are conclusions based on thoughts or speculation, but not direct observation. Facts are conclusions based on direct observation or group consensus. Judgments are expressions of approval or disapproval that are subjective and not verifiable.

Linguists have noted that a frequent source of miscommunication is inference-observation confusion, or the misperception of an inference (conclusion based on limited information) as an observation (an observed or agreed-on fact). ^[30] We can see the possibility for such confusion in the following example: If a student posts on a professor-rating site the statement “This professor grades unfairly and plays favorites,” then they are presenting an inference and a judgment that could easily be interpreted as a fact. Using some of the strategies discussed earlier for speaking clearly can help present information in a more ethical way—for example, by using concrete and descriptive language and owning emotions and thoughts through the use of “I language.” To help clarify the message and be more accountable, the student could say, “I worked for three days straight on my final paper and only got a C,” which we will assume is a statement of fact. This could then be followed up with “But my friend told me she only worked on hers the day before it was due and she got an A. I think that’s unfair and I feel like my efforts aren’t recognized by the professor.” Of the last two statements, the first states what may be a fact (note, however, that the information is secondhand rather than directly observed) and the second states an inferred conclusion and expresses an owned thought and feeling. Sometimes people don’t want to mark their statements as inferences because they want to believe them as facts. In this case, the student may have attributed her grade to the professor’s “unfairness” to cover up or avoid thoughts that her friend may be a better student in this subject area, a better writer, or a better student in general. Distinguishing between facts, inferences, and judgments, however, allows your listeners to better understand your message and judge the merits of it, which makes us more accountable and therefore more ethical speakers.

Key Takeaways

• The symbolic nature of language means that misunderstanding can easily occur when words and their definitions are abstract (far removed from the object or idea to which the symbol refers). The creation of whole messages, which contain relevant observations, thoughts, feelings, and needs, can help reduce misunderstandings.
• Affective language refers to language used to express a person’s feelings and create similar feelings in another person. Metaphor, simile, personification, and vivid language can evoke emotions in speaker and listener.
• Incivility occurs when people deviate from accepted social norms for communication and behavior and manifests in swearing and polarized language that casts people and ideas as opposites. People can reduce incivility by being more accountable for the short- and long-term effects of their communicatio

Please answer each question in a minimum of 150 words and provide a reference for the answers.

• Many compensation professionals are faced with making choices about which discretionary benefits to drop because of limited funds and overall increasing costs.Rank order discretionary benefits with the one’s you would most likely drop and why?
• Please review the following article in this week’s Electronic readings and post your comments. PDF attached below
• One of the debate ideas that has been thrown around over the years to stabilize Social Security is privatization.The idea of converting your Social Security Account into a modified IRA.Your employer and you would be required to contribute as you are now but rather than going into a collective pool it would go into your own private account where you would decide among a variety of investment choices.This would be optional but those that select it would not receive mandatory benefits from the system.The argument is that over time this plan would generate far more income and it would be an asset you could pass to your heirs.What do you think about that?
• Are there any companies offering part time employee benefits? Name 2 companies and some of the benefits they receive.

Demand for pharmaceuticals is driven by the desire to cure illness and disease. The profitability of individual companies depends on their ability to discover and market new drugs. Large companies benefit from their economies of scale in research, manufacturing, and marketing. Small companies can compete effectively by specializing in drugs that target one or two specific ailments. The Unites States (U.S.) industry is highly concentrated: the 50 largest companies account for more than 80 percent of revenue. The global pharmaceutical market is growing steadily, with sales reaching $1.08 trillion in 2011 – a year-on-year increase of 7.8% (PWC, 2012).

Modern drug development is an outgrowth of recent research into the specific causes of illness and disease, coupled with advances in chemistry and industrial technology that allow scientists to manufacture chemicals to improve these conditions. The explosion of scientific knowledge about human biology in the past 40 years has provided a wide array of advancements in medications. Tomorrow’s challenge is to develop new medicines that can prevent or cure currently incurable diseases. Today’s challenge is to get to tomorrow – and that’s a tall order in itself.

Health care payers are imposing new cost constraints on providers and are scrutinizing the value of medicines more carefully. Health care expenditure as a percentage of gross domestic product (GDP) is climbing in countries in every income bracket, and it’s climbing most steeply in the mature global markets where the Pharma industry has historically made most of its money. That includes the U.S.

The paramount challenge is to create more value for patients, providers and payers. What thoughts and ideas do you have in order for the Pharma industry to do so? Think about all you read in Chapters 5, 10 and 12 (and the others last week). Think about the current economical, social, demographic, medical, technical and political influences and trends when responding. Consider the newer and older reimbursement models as well as the changing models of care and focus on quality currently seen in health care today.  Support and explain your position as to how the pharmacy industry can reinvent itself to benefit the key stakeholders.

References

PwC (2012). From Vision to Decision, Pharma 2020. Retrieved from http://www.pwc.com/en_GX/gx/pharma-life-sciences/pharma2020/assets/pwc-pharma-success-strategies.pdf

Health_Care_Economics_Chapter12.pdf

Health_Care_Economics_Chapter05.pdf

Health_Care_Economics_Chapter10.pdf