6A - Identifying Opportunities in Economic & Regulatory Trends
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Economic Trend: Changing workforce demographics
o
Due to the recession, the baby-boomer generation
is not retiring as soon as expected. I believe that there is opportunity here
because it is causing my generation to be more creative in jobs. This
opportunity causes more start-ups and technical jobs being created that weren’t
available before.
o
This opportunity appeals to people in the age
range of 20-30 years who are currently graduating and looking for jobs. I do
believe that exploiting this opportunity will take creativity, but at the same
time this opportunity forces innovation.
o
I see this opportunity because there are so many
tech companies starting up. My generation has revolutionized the idea of
entrepreneurship. Relatively easy to exploit.
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Economic Trend: The US economy is in an
expansion phase
o
The economy is still recovering from the 2008
crisis. Due to this expansion phase, unemployment is at a low and consumer
spending has increased. The economy for exports are also increasing – aka a
strengthening global demand. I believe there is opportunity here currently
because the US has the ability to appeal to more worldwide customers. The
growth of American technology and intellectual property will cause more
worldwide demand as well.
o
This opportunity appeals to US citizens because
the economy will continue to grow for another couple of years before it peaks. International
demand will continue to grow providing opportunities for US companies.
o
I see this opportunity because I continuously
the US on top for intellectual property, even though our manufacturing sector
isn’t as large as other countries. Relatively easy to exploit.
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Regulatory Changes: Capitalizing on American
Storage Potential Act
o
Source: https://www.govtrack.us/congress/bills/115/s1337/summary
o
This bill allows regions to support project that
will create a more economic energy performance. Meaning, the bill allows for
energy storage to be capitalized upon which will create more economic
resilience.
o
This opportunity appeals to citizens within the
regions this bill is affecting.
o
I see this opportunity because new forms of
energy storage are continuously being created, but they cannot be applied.
Having a bill allowing regions to support these expenditures allows the energy
storage market to grow. Relatively easy to exploit.
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Regulatory Changes: Advancing Cutting Edge
Research Act
o
This act supports the continuation of research
on non-addictive pain medications. It creates a $30 billion budget for the
research including payment of employees, facilities and trials.
o
This opportunity appeals to drug companies,
universities, and researchers looking to advance within the biomedical field.
Also, it benefits any users of pain medication because it could potentially
lead to a new product.
o
I see this opportunity because it presents the possibility
of an entirely new drug market. Addiction to pain medication is very common,
and the potential for a non-addictive drug would help end this addiction. Extremely easy to exploit.
Jenna,
ReplyDeleteGreat job outlining your post. It is very easy to tell when you are describing the description, the problem, the who, etc. Your opportunity #1 really interested me. I didn't realize that people from the baby boomer generation aren't retiring earlier. I wonder what that is going to mean for our generation, the millennials. Additionally, I like the regulatory changes you mentioned. They differed a lot from the other blogs I read. This made me realize I should try to go more outside the box as well when doing my posts.
Hi Jenna!
ReplyDeleteI appreciate some of the problems you chose to write about. I appreciate your reasoning on why they are opportunities, but I would definitely love to see more about how you personally relate to the opportunity. I appreciate your last point the most because I have friends and family members who have been addicted to pain medication, so that is an opportunity I would love to see exploited.