Reducing Obesity

Statement of the problem

Obesity is a condition when an individual is overweight in comparison to their body height. This condition is problematic to the majority of the business organizations while reflecting on the economic aspect, factoring in that obesity has become a common condition globally that limits individuals’ performance in organizations (Swinburn, 2011)

Structure of presentation

The strategy for submission will be an audio presentation on the obesity reduction policies, which include; healthy eating, physical exercise, obesity awareness, self-actualization and medical health analysis. The strategy of public awareness is simplistic and affordable, reaching the individuals that have not yet been affected by obesity.

Economists’ perspective on obesity

The alarming levels of obesity posses a negative economic impact on the organization, simply that obesity affected individuals are less productive, especially in field operations. The objectives of this paper are:

1. Establish policies to be adopted by organizations in reducing obesity.
2. Appraise the most effective policy based on cost-benefit analysis.
3. Recommend the best option and implementation strategy.

Swinburn(2011) argues that the following policies are effective in obesity reduction and the cost obligations involved;

1. Physical exercise and work routine change. Based on this policy an individual should exercise and practice a different health routine, in the majority of the African countries, free exercise centre is unavailable posing a challenge to obese individuals in payments of gymnastics and fitness centres. This poses a threat to organizations economic expenditure. The change of work routine is also a challenge, bearing in mind that the rate of unemployment globally is high; the transformation of work routine will only apply to self-employed individual, which will cause the failure of the private sector organizations.
2. Healthy diet. A healthy diet policy will promote reduction in obesity; however, based on current global food production and processing system most of the individuals are used to junk food since the healthy foods are expensive and un affordable to low- and middle-income earner, this will economically affect the nations and globe on excessive finances in food expenditure and cost.
3. Self-actualization. It’s a psychological policy that is based on inspiration to motivate and empower individuals that they can lose weight and enjoy a healthy lifestyle, based on testimonials and evidence of weight loss. This policy is affordable for individuals who are highly motivated in weight loss. However, in cost-benefit analysis, it’s economical. It further refers to a person realizing his potential. It is the last peak in becoming the most that one can rise to be. The need to reducing weight may thus be focused on the need more specifically. The desire may thus be expressed economically. The theory behind self-actualization contends that a person can check on his growth and health as he advances to the next mile in fulfilling his potential.
4. Public awareness. The policy on health education is an effective policy towards prevention of obesity, especially in a young generation; the policy has low-cost requirements on the fact that it’s a publicity obligation for a government to educate its citizens based on their health records. It further presents a general understanding of the topic to the people.

Based on policies above as argued by ( Swinburn, 2011) on an economist’s perspective the recommended system is public awareness or education, this policy is the most effective as it is the best approach basing the argument from the macroeconomic theories. Regarding Keynesian approach, there is need for governing bodies to increase its expenditure on public awareness against the effects of the obese nation; there should be policies that are enhanced to increase the total people who participate in the recognition. In support of the New Classical Economists, there is also a support that the agents should have a maximized utility with rational expectations. This means that once the addressed market failure is met, the means to be considered to avoid market clearing. As a key force of economic analysis in the above policies, making the public aware will hence focus on the individual progress as per this theory. Monetarists view also suggests that it will be the best applicable policy since the government will control the money output and therefore, spending habits may be regulated. In the regulation of the money supplied, there will be less supply in the capital and hence controlled habits like dietary intake and sedentary living. Lastly, as per the demand-side economics, the theory supports the idea of decreasing regulations in public awareness and therefore able to meet other policies like self-actualization and enhanced physical exercises. As put forward by the different economic theoretical approaches, public awareness, therefore, remains the best feature to address the market failure of no or less public sensitization campaigns. When one considers the outcomes, public awareness is economical.  It is part of the government responsibility, private organizations will incur no expenditure, and obesity awareness at a global level will enable organizations to reduce obesity-promoting employee productivity and organizational, economic prosperity.

The market failure that has resulted in this menace is on the economic situation of the insufficient data to educate people on the ways and approaches with the reason behind reducing obesity. The implications that the case will achieve after resources have been allocated is that there will be more agents addressing the need. The market outcome based on this approach is that there will be a balance in the demand and the supply of the essential services associated with reducing obesity.

In addition to the economic advantage, public awareness will enable the individual to avoid obesity, causing factors before the healthy condition occurs, which is an economic strategy. The policy will, therefore, see a reduction in the costs that would be set aside to tackle the challenges that result with the onset of the obese situation in a country.

The best strategy to implement the above policy is the use of media, social groups and organizational communication platforms.

The best method to follow up on the above policy is obtaining feedback from individuals either through research or survey in finding out how obesity reduction has been a success

Benefit analysis

The benefit analysis is done on the social and personal grounds. In monetization and measurement of these benefits, there are, however, some issues that come up. Data accuracy and calculation errors are the more common issues that are addressed in obtaining marginal external and marginal social costs. However, there are various benefits that are obtained once the directives in the proposed recommendations are met. The benefits of the policies stated above are endless to the broad economic status of the globe, a world that obesity-free. ( Swinburn, 2011) Some of the benefits of the policies are:

• A nation that is obesity free has the capabilities of the individuals to work in various sectors of the industries; an industrial development of a country quickly ensures that there is a wide range of human labour force and therefore maximizing on production. A nation that produces significantly has an extensive sales volume and thereby increased revenue.
• Based on the health benefits of physical fitness, the specific globe benefits will save on medical expenditures of obesity and related diseases such as diabetes and immediate diseases such as cardiac-related diseases. The cost that could be incurred in these diseases is then channelled to other income-generating projects and thus spurring the economic development of a nation.
• The reduction of obesity will lead to a more active nation with more friendly activities such as sports, athletics and other related fields that require physically fit individuals. It will also increase the life expectancy. A healthy at last is a smiling nation, and an increased life expectancy, there is a widened local market. The market, therefore, serves as the ultimate place in the goods that the country will produce.

Conclusion

The reduction of obesity in society has economic advantages both to the nation and globe at a broader perspective. All sovereign states need to ensure that they uphold healthy living, education on obesity, economic support of obesity-based awareness, and promoting sports and exercise for the financial advantage of the globe. The third world nations should be supported in the implementation of anti-obesity awareness and adoption of healthy local foods that prevent high blood pressure, cardiac diseases and diabetes. Obesity reduction should start with the young generation; the reduction of obesity begins with you and me. The challenges that are involved in implantation involve cost incurred, breaking cultural beliefs and inappropriate change strategies. Thus, if the government implements on the above-stated recommendations, there will be an offset of the market failure in matters of obesity.

Bibliography

Boyd A Swinburn, G. S. K. D. H. K. M. P. D. T. F. M. L. M. S. L. G., 2011. The global obesity

pandemic: shaped by global drivers and local environment. Lancet, 378(1), pp. 804- 812.