The first
economic trend opportunity: Gas Prices on the Rise Again
a)
I
was listening to the radio getting ready for work and the station stated gas
prices will be on the rise again. So I began to research this online for
further investigation.
b)
What
leads me to believe there is an opportunity is that throughout an entire
calendar year, gas prices vary. Of course with the oil spill from 2008, there
was a huge rise in prices. Once the prices dropped, those that went from
driving their Hummers to bike riding, went back to their car lifestyles. When
prices rise again – people usually get very angry. If more people convert back
to their cars when prices are lower then maybe steady lower prices is the way
to go!
c)
I
think anyone who frequently drives a vehicle (or owns a vehicle) would be the
customer for this opportunity as cars need gas to drive.
d)
I
think this would be moderately difficult to exploit only because when one pays for
gas it goes to more than just one thing. Therefore, splitting the costs for gas
may not be even for a long term change. However, if it works for a short term
then what makes that possible?
I
find that since prices have been stable and lower than recent rises, people are
purchasing cars that take a lot of gas or not thinking of a future rise in
prices. When I got my car, prices were just beginning to rise. At the time I
was only part time and not able to swing school/groceries/gas/car maintenance
and the occasional makeup splurge. When the prices began to drop I was super
happy but am anxiously awaiting a large rise in price to occur. This can be
connected to my personal experience and emotional struggles with my
vehicle.
The
second economic trend opportunity: U.S. Defense Changing Technology
a)
I
found this opportunity listening to a podcast while at work. I was thinking
about the U.S. Defense and how they are going to update their technology soon.
I cannot recall the amount of millions needed to convert all the technology to
updated ways but it will be implemented.
b)
The
issue I find with this is that I feel later down the road something may go
wrong. I feel that one way or another, some sort of information will not
transfer properly or become lost. I think there should be a better system or
way to organize and revise technology for all military bases.
c)
The
customer would be (down the line) tax payers I am sure who would have an
increase to try and recover missing information or revamp a process that failed
at converting information over.
d)
I
think this would be fairly simple to complete if there were specific guidelines
across the board.
I
think most would see an article or quick interview about this and think that it
is a great thing and move on. I too think this is great to update technology
but I see flaws happening during this process and becoming a larger issue than
it is now without converting! My personal inexperience with technology makes me
think about all the issues that can happen and my questions regarding the
process in doing so.
The
first regulatory change
opportunity: Real Estate/Housing Market
a)
I
began researching this topic in another course and since the terrible crash in
2008, many are predicting another dip (or crash) will soon take place.
b)
What
leads me to believe an opportunity exists is that people have begun to purchase
homes they cannot afford and may not be able to keep in the future if a crash
happens. I think bankers should have stronger stipulations when it comes to
approving home loans and tighter restrictions should be made. If everything has
a microscope, home buyers can remain in an affordable range. An opportunity
exists but between real estate agents wanting their large cut and the bank,
people are put into homes that cannot be kept down the line.
c)
First
time home buyers are the prototypical costumers in this situation.
d)
This
may be very difficult to take place because people like to buy things out of
price range and pay for it longer over time. Buying a shirt out of budget is
one thing but a home is much worse. I think trying to persuade home buyers and
first time home buyers especially that less is best, will be very tricky.
A
family friend had bought a home that they could no longer afford after the
crash. Looking back, they wish they had not over gone on budget and went
smaller in size. Since things are on an upswing currently, I do not think first
time home buyers are heavily thinking about the
“what if” of another crash. Most people do not think of the bad things unless the bad things are happening to them/currently.
“what if” of another crash. Most people do not think of the bad things unless the bad things are happening to them/currently.
The
second regulatory change opportunity: Legalizing Marijuana in Florida
a)
This
topic has been circling for a long time nationwide. Once a few states voted to
legalize the use of marijuana, Floridians began to wonder when they will be
next! There are countless meetings per county about this as well as articles
and debates within the state. I also found some great articles online.
b)
This
information certainly suggest the legalization of marijuana in Florida may take
place within the next few years. With knowledge of economic status of the
states that have legalization versus the states that do not help indicate where
there are pros and cons to this advantage.
c)
The
prototypical customer for this opportunity would be hospital patients that need
this medication for recovery.
d)
I
think overall it will be tough to have this opportunity to succeed. I believe
awhile back it was on a ballot for Florida but was not passed therefore majority
of people voted against it. But a second chance may prove us wrong.
Most
people smoke illegally, as most of the snapchats I receive are marijuana
related, so having it legalized would help boost the economy for Florida. I
honestly do not have any personal connections to this but think it would make a
lot of money regardless for the state.
Isabella,
ReplyDeleteRegarding your first economic trend opportunity, I don’t know if there was necessarily a correlation between the rise of gas prices and increased use of traditional automobile transportation over other forms of transit. I also don’t believe that you can quite make the claim that a rise in gas prices makes people “usually get very angry”. Although if there is excessive relative data and research to justify both of these claims, I would be very interested to see those sources and investigate this economic trend as well! I do agree that this is a difficult opportunity to exploit. It may serve you better to go into a deeper investigation regarding your second economic trend opportunity, “U.S. Defense Changing Technology.” There is much more to be considered than merely specific guidelines in order to implement a more efficient system for updating technology, and that investigation may unveil another opportunity in itself. Additionally, I want to also agree that exploiting an opportunity in the real estate market is quite the endeavor, but not because “people like to buy things out of price range and pay for it longer over time”. Think about the factors that contributed to the 2008 crash and identify explicit data which bolster this claim. Conclusively I believe there is great opportunity for regulatory change in legalizing marijuana in Florida. There have been great steps taken by local lobbyists, public figures, and other citizens to increase awareness of the benefits of the bill. While it did not make the 60 percent supermajority vote for an amendment to pass in Florida, it did surpass “majority” with a 57.62 percent approval from the voting population within the state on the November 4, 2014 ballot.
my post: http://elementalentrepreneur.blogspot.com/2016/05/looking-for-opportunity_27.html