6A – Identifying Opportunities in Economic & Regulatory Trends
1.
Climate change is causing more natural disasters
a.
where you found it (i.e., what the source of the
information was that led you to form the belief about an opportunity),
o
The environment has always been very important
to me and this only confirmed that belief.
b.
what leads you to believe that this information
suggests an opportunity might exist,
o
Due to the increasing greenhouse gases, as our
planet is experiencing hotter days, our food prices are sky-rocketing. This is
largely due to the fact that corn and soybean yields in the US rapidly decline
when the temperature reaches above 84 degrees Fahrenheit.
c.
who do you think is most likely to be the
customer with the opportunity (i.e., the prototypical customer),
o
Anyone that eats and is concerned with the cost
of living increasing and those who don’t want to have a thirty-dollar corn on a
cob.
d.
is the opportunity relatively easy or relatively
difficult to exploit, and why do you think so?
o
I think the generations before us have greatly
exploited our environment for negative reasons and now it is time to adapt and
try to exploit our rising temperatures in a new way; possibly engineering crops
for hotter climates and learning how to survive under new conditions.
e.
Why I saw the opportunity:
o
I took biotechnology for 4 years and we learned the importance of adapting our science for a sustainable future.
2.
Baby Boomers
aren’t retiring
a.
where you found it (i.e., what the source of the
information was that led you to form the belief about an opportunity),
o
A Prudential survey showed that over half of the
Americans between the ages of 45-75, were forced to delay their retirement due to
recession like condition and even the people that can afford to retire continue
to keep working.
b.
what leads you to believe that this information
suggests an opportunity might exist,
o
The problem is that the younger generations have
less work opportunities because the baby boomer generations are keeping their
jobs. A way to counteract this is millennials are taking temp jobs, creating
new opportunities, or are being forced to come up with more creative jobs that
may not have existed in the past.
c.
who do you think is most likely to be the
customer with the opportunity (i.e., the prototypical customer),
o
Any millennial who still lives off of their
parents and cannot find a job.
d.
is the opportunity relatively easy or relatively
difficult to exploit, and why do you think so?
o
This is tricky because we cannot force the older
generations to retire due to the sole purpose that they are old and young
people need jobs.
e.
Why I saw the opportunity:
o
I saw this because I am currently trying to
create my own career path because there isn’t a real demand for certain jobs.
3.
Oil, food and gas prices are controlled by
financial markets
a.
where you found it (i.e., what the source of the
information was that led you to form the belief about an opportunity),
o
Supply and demand aren’t controlling our prices
anymore, rather commodities traders are setting the prices for oil, gas and
food because foreign exchange traders determine the value of the U.S. dollar.
b.
what leads you to believe that this information
suggests an opportunity might exist,
o
This leads me to believe that we should revert
to the supply/demand method. But, also that we should be more self-sufficient in
these areas so we can control the prices in our own country instead of outside
providers setting the value.
c.
who do you think is most likely to be the
customer with the opportunity (i.e., the prototypical customer),
o
Any person in the U.S. that eats or drives.
d.
is the opportunity relatively easy or relatively
difficult to exploit, and why do you think so?
o
This may be difficult to adjust because we have
become so dependent on outside resources.
e.
Why I saw the opportunity:
o
The cost of living is obviously rising and one
would have to be blind not to notice.
4.
Regulatory changes affecting researchers
a.
where you found it (i.e., what the source of the
information was that led you to form the belief about an opportunity),
b.
what leads you to believe that this information
suggests an opportunity might exist,
o
It is becoming even harder to complete IRB’s and
with new regulations the federal government is implementing an even a tougher
procedure concerning IRBs.
c.
who do you think is most likely to be the
customer with the opportunity (i.e., the prototypical customer),
o
any type of researcher interested in pursuing
research must be reviewed by an institutional review board.
d.
is the opportunity relatively easy or relatively
difficult to exploit, and why do you think so?
o
This is difficult because there are already a
lot of necessary procedures involved in reviewing research before approval and
it would be a challenge to augment them.
e.
Why I saw the opportunity:
o
the importance of using science to better understand
the world around us and IRB’s make that actually capable of happening, so it’s
time to challenge some of these long-standing notions.
Hey Caroline,
ReplyDeleteI thought your 3rd point was interesting because it is an opportunity to talk about this problem. I also agree with you that we should revert back to supply and demand because that will generate the best government for us. Although this problem is tough to exploit it is still something that should be talked about and it should be up for debate. I also completely agree with your point that the cost of living is increasing and something must be done. Great Work!
Hey Caroline, I think that your second point is very interesting because I had never really thought about the baby boomers taking up jobs in place of younger generations. It is a good point to bring up because it is a situation that will affect all of us directly as we attempt to get in the work force after college. Hopefully when we attempt to get jobs the baby boomers will leave the work force and clear room for us.
ReplyDeleteHello Caroline. I really enjoyed reading over the opportunities you identified. I strongly agree with your opportunity behind climate change. Climate change is a huge issue right now, and more people are starting to take notice and try to change habits. However, I think there might be more opportunity in other areas other than food, though that is definitely a good one. I personally think there is a lot of opportunity in creating environmentally friendly products that use less waste and aren't as toxic. Overall, great job.
ReplyDelete