Case study needed for an economics class. Chapter 12: Medford University Medford University is a research university with an undergraduate liberal arts program, law school, and medical school. Majority of the employees in the University work in Medical school. However, the University faces financial challenges due to a decrease in donations. The hospital of the University is under tremendous pressure to cut costs due to changes in health care regulations and insurance coverage. Medford University provides fringe benefits (health benefits, retirement plans, and so on) to its employees and currently spends $100 million on it. The University also faces large future payments to its current and retired employees. The president of the University Hiromi Kobayashi forms a task force to design a new fringe benefit package. The task force consists of faculty and staff from departments throughout the University. The task force is asked to consider University’s current financial problems. President Kobayashi wants to reduce the expenditures on fringe benefits while maintaining faculty and staff quality. Based on the above situation, answer the following questions: 1. Why does President Kobayashi appoint a task force to design a new fringe benefit package instead of asking Human Resources to come to a new design? Explain. 2. Do you think the president assumes that all the task force members will agree to reduce the expenditure on fringe benefit package? Explain. 3. Does the president want to commit to enforcing the task force’s recommendations, or does she like to reserve the right for modifications of the task force’s recommendations? Explain.
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