6A – Identifying Opportunities in Economic & Regulatory Trends


1) Economic Trend #1: My first opportunity I wanted to share is one dealing with climate change. This topic is heavily trending in today's day and age with young people who are looking for a great environmental future where we can save our planet and prosper. I believe there is a huge opportunity in the market for fuel efficient goods ranging from big items such as electric cars to solar powered flashlights. (a) I found this by simply watching the news and all the headlines of climate change becoming a problem and the sustainability of the Earth. (b) I believe this opportunity exists because eventually we will have to do something about climate change and the sustainability of our environment so it will inevitably become an even stronger problem. (c) I think the prototypical customers are millenials and younger because their preservation of the environment will ultimately affect them the most. (d) It is a difficult opportunity to exploit because it takes mass people to change their thinking and to create action including multiple products that eliminate the current ones harming our environment. I saw this opportunity after just hearing about it on the news constantly and I believe many others believe there is an opportunity here too but many just don't know how to act on this. 

2) Economic Trend #2: My next opportunity is plastic and litter in our oceans. There has to be some way to develop some sort of vessel or technology to help pickup trash while boats casually go across the water. (a) I found this opportunity because I lived on the water most of my life and the amount of debris and bottles I found floating every day in the water. (b) I believe that as increasing trash and debris pops up and kills our wildlife, the more opportunity there is. (c) I think many marine biologist and people who live near or frequently visit the water will be very interested in products that could help them save our oceans and their wildlife. (d) I think this is a relatively easy problem to fix because it is about prevention rather than removing the trash. I simply saw this opportunity due to living on the beach for so long and frequently seeing trash and dead fish, turtles, and other marine life wash up. 

3) Regulatory Change #1: One regulatory change I looked into was mandated vacation and sick days which requires companies to give their employees more time off. (a) I found this regulatory change from a little online digging and just thought there was increasing opportunity in this change due to the passion of travelling and experiencing the world in many of today's people. (b) I believe there is an opportunity here because who doesn't love a good vacation? (c) I think that really anyone working for a company would be a prototypical customer as they get this paid time off while getting to go anywhere they want or do anything they want. (d) I believe the opportunity here is simple, you offer vacations or get a site that gives you options to find what getaway you are looking for. 

4) Regulatory Change #2: Another change I looked into was the minimum wage regulatory change and I believe there is an opportunity here where we set up a hiring agency because as minimum wages go up then the workforce increases and it becomes increasingly competitive which would make a companies' job a lot easier with a employment agency to hire for them. (a) I found this regulatory change while doing research on regulatory changes. (b) I believe there is an opportunity here because I worked for a company who uses an employment agency and they get a good amount of money for just taking applications and sifting through them. (c) I believe companies and businesses will be the prototypical customers because they will have an influx of people applying. (d) I think this opportunity is relatively hard because employment agencies needs to have some sort of reputation and that takes time to do and good business over years. I saw this opportunity as I said before because I did some research on regulatory changes and I also worked for a company who used an agency like the one I'm describing.

Comments

  1. Nala MckieSeptember 22, 2019 at 11:39 PM

    Hi Nathan,

    I really liked your second opportunity about the litter in our oceans. I think it is a really good idea to have boats pick up trash in passing. I think it is a relatively easy fix that I honestly would have never thought of. Even though the vessels would require some added technology but they wouldn't have to go out of their way to pick up the trash.

    ReplyDelete

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