6A: Identifying Opportunities in Economic and Regulation Trends

Health Care Remains Healthy
http://time.com/money/5075669/economic-trends-2018/
  • I was able to find this source through an article which discusses the 5 biggest trends that will your money in 2018
  • This trend informs the readers about how the healthcare system funds increased by about 20% on average in 2017. In addition, this article provides the reader with information about the main reason the health care system is a potential business for opportunity which is biotechnology. New treatments for HIV, hepatitis, and Celgene have caused the health care system to increase its funds. This is valuable information that an opportunity might exist because I can invest in building new bio labs or pharmaceutical companies.
  • As mentioned in the article, baby boomers are the prototypical costumers since they are aging in massive amounts. This means that baby boomers will be in need of new treatments and medicines.
  • This opportunity might be relatively difficult to exploit because there already exist large companies which control an extensive amount of the health-care market.

  • I might have seen this opportunity while another individual maybe wouldn’t because I am trying to target baby boomers since they are a big part of the population. As I mentioned in my opportunity belief, my idea was to create a “mobile pharmacy” which would target mainly baby boomers.

Jobs
https://www.thebalance.com/us-economic-outlook-3305669
  • I found this economic trend through the balance.com, a personal finance website, which informs the readers about the U.S. economic outlook for 2018 and beyond
  • This economic trend is about how employment is increasing. Based on the Bureau of Labor Statistics, the unemployment will be around 4-5% in 2020. The major increase will be in the healthcare market, followed up by technological occupations. Also, professions requiring a master’s degree will grow the fastest which jobs only requiring a high school diploma will be the slowest. This is crucial information since it allows me to understand that people will be looking for jobs; therefore, I can invest or create an online application where it can facilitate companies and potential employees’ interactions based on requirements, experience, education…etc.
  • The prototypical costumer for this opportunity will be for individuals looking for jobs in general. The app can facilitate employers and employees’ interviews and requirements for that specific job. The online app can target local or global jobs available.
  • This opportunity could be difficult to exploit since face-to-face interaction is crucial when hiring a potential employee and the logistic the system would require to function properly.
  • I identified this opportunity while maybe another individual wouldn’t have because I feel like it should be easier to find jobs. You should be able to put all your skills, experience, education in one application and let a system match your talent with a company’s requirements instead of applying for every single application available separately.


General Data Protection Regulations (GDPR) in the European Union
https://www.businessnewsdaily.com/7671-regulatory-issues-changes.html
  • I was able to find this regulatory change that could happen soon in an article that informs the readers about the 5 regulatory changes that could affect your businesses.
  • This regulatory change talks about how the GDPR is already happening in the European Union and will be here soon in the United States. GDPR could help businesses and customers to maintain a secure network and collaborate to keep security protocols safe. This information is valuable because it could mean that there’s an opportunity to create a business where we can develop a system that would protect people’s emails, passwords, and other crucial information.  Since this data privacy regulations can come to the U.S., there would a substantial demand for this kind of business where they help businesses keep their customers’ information secure.
  • The prototypical costumer would any kind of business that would be required by law to have this data privacy regulation.

  • This opportunity could be relatively easy to exploit since the demand for these data security networks would increase massively.
  • I identified this opportunity while others might have not because I believe that society is using online sources more than ever before. I believe that society will become even more reliable on online networks than we are now. As a result, I think this opportunity exists because whoever uses online sources would like to have their information secured.

Proposal: Affordable Clean Energy (ACE) Rule
https://www.epa.gov/stationary-sources-air-pollution/proposal-affordable-clean-energy-ace-rule
  • The U.S. Environmental Protection Agency planned the Affordable Clean Energy (ACE) rule which would create guidelines for states to develop plans to report greenhouse gas emissions from existing coal-fired power plants. This could be an opportunity because it means that industries, in general, have to become more environmentally friendly. This means there’s an opportunity to create a business that uses clean energy such as solar panels.
  • The prototypical customer will be businesses or organizations in need of clean energy.
  • This opportunity could relatively hard to exploit since the lobbying power these business possessed can affect these regulations.
  • I identified this opportunity because I feel like the society has to become more environmental friendly before it’s too late.






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