- Economic Trend: Fading Energy Drags
- Source: https://commercial.jpmorganchase.com/pages/commercial-banking/executive-connect/six-key-economic-trends
- I believe that an opportunity exists here because as the article states that even though the efficiency of fuel has been improved in 2018, it could be better and there will be a much higher demand for fuel due to the increase and appearance of new technologies.
- The prototypical customer for this opportunity could be companies who are interested in investing for alternate fuel sources or people who are interested in ideas on how fuel efficiency can be further improved.
- As for exploiting this opportunity it shouldn't be too difficult since there are other people in the world who are looking for alternate sources for fuel or ways for the amount we do have to be used wisely.
- I saw this opportunity because for this economic trend it seemed rather simple to know what opportunity can be found from here just by reading the title, also it just seems like an everyday opportunity many people are trying to solve.
- Economic Trend: The hiring shortage has turned into a hiring crisis
- Source: https://www.inc.com/joe-galvin/5-economic-trends-every-business-owner-should-watch-in-2018.html
- I believe an opportunity exists here because if there is shortage of competent workers then the people who are looking for them are looking in the wrong places or future workers who are looking for work don't know that there are positions available for their skill sets.
- The prototypical customer for this opportunity would be the companies who are having a shortage of workers or the people who are looking for work.
- Exploiting this opportunity could be a bit difficult seeing as there could be many companies searching for workers and the same could go for the workers. With that many many companies plus the amount of workers they are each looking for it could be difficult.
- I saw this opportunity because I found it interesting that there is such a thing as a hiring shortage, I usually hear of there being a job shortage which results in many people being poor. I think if companies were able to gain new employees it would also reduce the amount of jobless people in America.
- Regulatory Changes: Cybersecurity and data privacy
- Source: https://advisory.kpmg.us/blog/2018/rc-ten-2018-regulatory-challenges-for-financial-services.html
- I believe that an opportunity exists here because according to this article it relates to regulatory challenges financial services face. And it the opportunity here is that there could be an improvement to the security relating to financial services.
- The prototypical customer for this opportunity would be financial companies who wish to upgrade their security to prevent any incidents within their foundation.
- Exploiting this opportunity probably shouldn't be too difficult for people with knowledge and experience technology or computers.
- I saw this opportunity because I feel that in order to avoid fraud when it comes to financial affairs greater cybersecurity measures should be placed to protect peoples privacy.
- Regulatory Changes: Paid leave laws
- Source: https://www.benefitspro.com/2018/01/10/top-10-regulatory-issues-for-small-businesses-in-2/?slreturn=20190025160347
- I believe that an opportunity exists here because there are some of those laws that have been passed and some that are proposed and each of them are different in terms of complexity, so there is an opportunity when it comes to the proposed laws.
- The prototypical customer for this opportunity is perhaps pregnant mothers or people who need to take a paid leave due to some emergency in their life of some sort.
- Exploiting this opportunity could end up being somewhat difficult because as previously mentioned these different laws vary in complexity meaning some can be more difficult than others to exploit.
- I saw this opportunity because I was interested to learn more about the different variations a law can have and how that would affect people.
Friday, January 25, 2019
6A- Identifying Opportunities in Economic & Regulatory Trends
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The second trend you identified, the hiring crisis, is one that potentially could be addressed if a widespread hiring agency or site revolutionized the current hiring methods. This likely would be difficult, as it requires high levels of popularity to be successful, however it holds potential.The hope would be that this business could help facilitate the hiring process by ruling out candidates (using AI maybe?) and highlighting potential hires.
ReplyDeleteI think the trends and changes you bring up can create great opportunities for entrepreneurs. I feel that an entrepreneur can create a startup for any one of these changes. For example, someone could create a startup that provides and markets alternative fuel, a tool that can direct employers to competent workers (and workers to employers), a company that offers cybersecurity fixes to financial institutions, or a tool that helps inform and solve problems for those affected by changing paid leave laws. I think that with due diligence and research an entrepreneur can be successful in any one of these fields.
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