Identifying Opportunities in Economic & Regulatory Trends

6A - Identifying Opportunities in Economic & Regulatory Trends

1.     Economic Trend: Climate Change is Causing More Natural Disasters

a.     Source: https://www.thebalance.com/top-usa-future-economic-trends-3305666

b.     I believe an opportunity exists here because these newer generations are becoming more and more aware of what is happening to our planets. They definitely don’t want any natural disasters and will probably be more inclined to find a solution.

c.     As I mentioned in part b, I believe the newer generations are more conscious of what is happening and have more intentions to find a solution. Therefore, I think the prototypical customer would have to be someone who is conscious about what is going on in our world, and I think that would happen to be someone from a younger generation.

d.     This opportunity will definitely be difficult. I feel that while people know what is happening around us, they don’t take action. It will take a lot of action from a lot of people in order to achieve this opportunity.

I saw this opportunity because I just care a lot for the environment. I know there are a lot of people out there who are also passionate about this topic, and I would like to believe that someday we can achieve this opportunity together.

2.     Economic Trend: Cyberattacks are a Silent Killer

a.     Source: https://www.inc.com/joe-galvin/5-economic-trends-every-business-owner-should-watch-in-2018.html

b.     I believe an opportunity exists here because no business wants to their information stolen or their employee or customer information stolen.

c.     According to the text, small and medium sized businesses are being targeted, so I would consider them to be the prototypical customer.

d.     I don’t think this opportunity should be difficult to exploit. I think to take precautions, many businesses have already started encrypting their information.

I saw this opportunity because the world is developing like crazy. Technology is rapidly advancing, and you never know what could strike next. Cyberattacks seem to be the new killer of businesses, so businesses should advance their security of their technology as well.

3.     Regulatory Change: Texting and Driving? Get Ready for a Ticket in Florida

a.     Source: https://www.miamiherald.com/news/state/florida/article238822448.html

b.     An opportunity exists here make the public aware of the safety issues involved with texting while driving. It is also a chance for technology companies to sell/devise more efficient Bluetooth devices.

c.     The prototypical customer would typically be the younger, more inexperienced drivers, or businesspeople who are usually always on their phones.

d.     I definitely don’t think this is a difficult opportunity to exploit. Many steps have already been taken to achieve this opportunity.

I see this as an opportunity to get people off their phones. There are so many accidents caused by a person texting and driving and so many deaths involved that it is time for this regulatory change.

4.     Regulatory Change: Lactation Accommodations

a.     Source: https://abc7news.com/politics/new-california-laws-in-2020/5750088/

b.     An opportunity here exists for companies to be more inclusive and for them to hire contractors to create these new areas to accommodate lactation requirements.

c.     The prototypical customer would be businesses with new mothers who need these lactation accommodations.

d.     I think this will be an easy opportunity to exploit. Granted, some businesses may be against this regulation because it would cost money to meet the necessary accommodations, but overall it would put everyone more at ease.

I saw this opportunity because I have read stories upon stories of how many new mothers go back to work and are shamed or embarrassed of having to lactate and not having a proper space to be able to do it comfortably.