Assignment 6a - Identifying Opportunities in Economic & Regulatory Trends

Assignment 6a

Opportunities in Economic Trends and Regulations

Opportunities in Economic Trends

1.     With healthcare inflation incredibly high, US citizens are still paying huge prices for their coverage. Between the government and private companies, individuals feel overwhelmed by all the prices. I found this on a Vistage article referring to upcoming trends in the market. There is an opportunity to provide not only an easy platform to show people each company’s coverage but also create a new company which provides a more affordable healthcare plan. It has been an ongoing issue in the US how healthcare has been so expensive and there have been no solutions. Many complaints have ensued because of this and from these is where the opportunity has arisen. This opportunity can be used universally by businesses and individuals and would require efforts and collaboration to get it up and running smoothly. I’ve seen this problem reoccur especially listening to the news over the years as well as my parents talk about it which is why I’m able to see this opportunity.

2.     With the rise of climate change, many locations are in danger of being put at stake due to environmental factors. I found this on The Balance which speaks about how climate change will alter the market in the coming years. This has developed an opportunity for more sustainable solutions and companies to arise in order to develop safer construction projects. With the increasing amount of natural disasters, the demand is increasing. I feel that this opportunity can be served for both personal services as well as businesses. Creating this opportunity and making it functional would take a lot of time and resources. However, it can prove to be very beneficial in the end. This again is an opportunity that I see because of the rise of climate change as a problem. My generation is very on top of this problem and are putting our efforts into fixing it.

Opportunities in New Regulations

1.     An opportunity that is arising with the introduction of new regulations is the need of services to help vape addicts quit. The FDA have just banned the selling of flavored vapes, which makes up a majority of this market. This information originates from articles referring to the FDA instilling this new ban and how society will be affected. This specifically can be found in the consumer reports recently released by the government. This information suggests that now that vape flavors will be gone; a majority of users will be more willing to quit which in turn suggests the need of a service to help them do so. The prototypical customer for this would be vape users, especially in my demographic where a lot of individuals have become addicted to devices such as the Juul. Although it would take a lot of effort and collaboration, I think that setting up such a service wouldn’t be relatively hard however making it widespread and more universal would make it more challenging. I saw this opportunity because I have several friends in my entourage that have become addicted to such devices which have affected their health. I feel that they would need such services in order for them to fully and successfully be able to quit and come over their addiction.

2.     I think that there is an opportunity with the introduction of new environmental regulations. With the government becoming stricter on environmental laws and regulations, especially on businesses, I feel that there should be a platform on which a business can easily track its carbon footprint so that it can see what it can do to make it better. It has been on many news outlets, such as Science Daily, that the government is starting to tighten up on environmental regulations. However, the majority of the emissions come from the businesses and their operations, to which they are carelessly not paying attention to. The problem is that it is difficult for them to come up with how they are affecting the environment. This is where the need of a platform or an organization is, in order to help the businesses, see what they are doing wrong and help them change it. This opportunity would require lots of work and collaboration in order to make a system that runs smoothly for businesses to use. Later on, the introduction of personal and individual platforms can be placed together. I feel that this is an opportunity that many people my generation have seen and are starting to really believe in this problem.