6A – Identifying Opportunities in Economic & Regulatory Trends

Economic Trends Problems:

1. Financial Markets Control Oil, Gas, and Foods Prices
a. U.S. Economy and News explains that this is just one of the top six economic trends of today.
b. Commodities traders set prices for oil, gas, and food. Foreign exchange traders determine the value of the dollar. Meaning, our gas and oil prices rise and fall, depending on investors!
c. The prototypical customer is customers of oil, gas, and food.
d. This opportunity is difficult to exploit, as is anything relating to the economy. People don’t believe they can have power over this issue.
Why did you see the opportunity? I saw this opportunity as a consumer of oil, gas, and food. I see gas prices rising and falling. To see data like this, it makes me question the markets. I believe any consumer would.
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2. Climate Change Is Causing More Natural Disasters.
a. I found this information over all different media platforms. All the current wildfires on the news are portrayed as disasters, but the public doesn’t realize these disasters are factors of global warming.
b. This information and/or problem is a significant opportunity to lead campaigns and outreach programs.
c. I believe that generation Z and possibly millennials because the younger generations are more prone to change.
d. This opportunity is difficult to exploit because news and politics can get in the way and blind people. So, it would be hard to get people to open up to the campaigns, programs, etc.
Why did you see the opportunity? I believe that people would see this opportunity depending on who they are as a person. Meaning, a person that is not open to change will turn away and not see this as a problem. Versus someone open to listening and having a discussion would be more accessible to see this as an opportunity.
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Regulatory Changes Problems:

1. Digital health technology and software as a medical device
a. The 2020 Life Sciences Regulatory Outlook states that traditional and pharmaceutical manufacturers face challenges.
b. This information leads me to believe that there is an opportunity to develop better technology and software throughout the medical field.
c. Hospitals and pharmaceutical companies would be the customer of this opportunity.
d. This opportunity is relatively challenging as we would have to create such programs, software, etc.
Why did you see the opportunity? I saw this as an opportunity because I grew up in a family that is in the medical field. I understand that technology is changing, and health facilities are a big consumer of these technologies.
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2. Data Privacy
a. The 2020 Life Sciences Regulatory Outlook states that concerns about data privacy regulations are increasing.
b. Data privacy has always been an issue, but with increasing technological advances, we are more at risk. There is an opportunity to create software that better protects privacy or can detect when a system is being hacked.
c. The prototypical customer would be companies that would like to adopt privacy software or even citizens that would like to protect their personal information.
d. This opportunity is relatively challenging as we would have to create such programs, software, etc.
Why did you see the opportunity? I am always concerned about my personal information. I see this as an opportunity to protect social securities numbers, banking information, computer drives, and so much more. People want to protect themselves and their businesses.

Comments

  1. Katherine GuyFebruary 4, 2020 at 1:08 PM

    Savannah,

    I think you chose really great issues to find opportunities within. I was especially interested in opportunity you found within the market's control on oil, gas, and food prices. In my economics class, we just went over how the government likes to tax markets like these because they are inelastic and cause less of an effect on the total welfare of a community. I think this problem really relates to the one you stated.

    Good job!

    ReplyDelete
  2. Adam HusseinFebruary 9, 2020 at 6:31 PM

    Hello, excellent post! I also chose climate change as an economic trend. More so, I found it interesting as to how you chose data privacy, oil, gas and food prices, and digital health technology. These are all emerging or pressing issues; however, people do not really discuss them. More so, I believe that individuals do not necessarily notice something until they pay attention to it, like gas prices. Overall, great post!

    ReplyDelete

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