Economic Trend Opportunity 1:
a) Eco-friendly is my first economic trend of choice. This trend was brought to my attention by an article in the Miami Herald that I read for the previous assignment.
b) Due to global warming, tons of firms are being encouraged to change the way they operate to reduce the effects on the environment, and individuals as well. I believe there is an opportunity here because almost any aspect of someone's life can be altered to reduce society's emissions output. Many new products are coming out each day that are "eco-friendly". For instance, you can go to Lowes and buy light bulbs that shine brighter and use less energy.
c)The type of customers who are most likely to indulge in the eco-friendly economic trend opportunity are the environmentalists.
d) The opportunity can be easily exploited by the environmentalists. It is the opposing party that would make exploitation a challenge. There are individuals who do not believe in global warming. This best thing to do is to try to educate everyone on the benefits of the trend and let it sell its self. Tesla is an example of helping make eco-friendly look cool.
Economic Trend Opportunity 2:
a) Cryptocurrency is my second economic trend opportunity of choice. Everything nowadays is geared towards digital activity. Cell phones, computers, and now money. This trend was brought to my attention by friends I have that have invested in Bitcoin and other cryptocurrencies.
b) There is an opportunity to begin to use cryptocurrency over the dollar due to exchange rates. Cryptocurrency is geared to be a universal currency. So, no matter where you are in the world, it will still hold the same value. When cryptocurrency is exchanged, we no longer have to worry about exchange rates or the lengthy amount of time for money to transfer overseas. Cryptocurrency can be transferred in about 15 minutes versus the up to 2-week transfer process, depending on where how much money you would like to transfer.
c) Cryptocurrency users will be used mostly by tech investors and people who travel a lot. This will take time but eventually, the world may begin to favor cryptocurrency and exclude other forms of hard currencies.
d) This opportunity is hard to exploit because cryptocurrency is not backed by the government, but governments are slowly trying to change this. This scares a lot of people. Myself for example, like hard currency over crypto because of the risk that comes with cryptocurrency. Until the crypto miners work out the kinks, there are many people who want nothing to do with it and there are also some people who love the idea.
Regulatory Trend Opportunity 1:
a) Hunting and trapping in Alaska are my fist regulatory trend of choice. I found out about this regulation at regulations.gov.
b) This opportunity may exist due to the overhunting of wild game in Alaska. Sport hunting can create a scarcity of certain animals indigenous to Alaska and a quota can help reduce this.
c) The customers for this opportunity are the environmentalists and the animal activists. I'm sure if the animal activists had their way completely there would be no hunting what so ever, but the sport contributes a lot to Alaska's economy.
d) It is easy to exploit due to the endangerment of animals but there is also another party who could care less. Money influences most decisions in the world we live in so, sport hunting will continue while also stimulating the Alaskan economy.
Regulatory Trend Opportunity 2:
a) Trump's tariffs on China are my second regulatory trend of choice. I heard about this through NPR radio, NBC News, and Fox News.
b)The opportunity exists because the Trump administration has accused China of stealing intellectual property, which is illegal in our trade agreement with them. To retaliate Trump has imposed a $50 billion accumulative tariffs against China.
c) I don't think this opportunity creates customers as much as it deters them, which is the point of a tariff. The tariff could disperse the global economy more evenly instead of the bulk of Chinese goods going to the U.S., China will now try and find other buyers to meet their economic needs.
d) This is a tough proposal to exploit because China is such a fierce and beneficial economy. President Trump justifies his choice with the accusation of China stealing intellectual property, which if true, is a good reason not to do business with an entity.
The environment is becoming more and more important to todays consumers who are now concerned with providing a better tomorrow. reducing carbon emissions is starting to look cool (you still won't catch me in a prius) and even if global warming wasn't a real thing there are people who'd wan't to protect the environment anyway.
ReplyDeleteI found your post extremely interesting because you listed many things i wasn't aware of at all. I also think that cryptocurrency will be something super beneficial to many people, but governments are not agreeing with this at the moment. The fact that this would help a lot to many business that are all over the world, and many travelers as well makes it very interesting. I totally agree with you in your regulatory trend opportunity 2, because that opportunity creates customers as uch as it deters them, and the global economy could be disperse because of this argument between the US and China.
ReplyDeleteHey Cayman!
ReplyDeleteI thought that the opportunities you mentioned were very intriguing, insightful, and hugely refreshing, as you went into thorough detail on topics I didn't know had so much to them. The first opportunity you discussed about the environmental consciousness was very well stated; with a strong target group that would benefit from such a solution, success and the chance to expand upon this idea in the future is inevitable. I also found the second economic opportunity you discussed regarding cryptocurrency equally, if not more, fascinating. The cryptocurrency market is slowly approaching the mainstream, and introducing opportunities that capitalize on this is a smart move. Great job!