Assignment 6A- Seeing More Opportunities
Assignment 6A- Identifying Opportunities in Economic & Regulatory Trends
· Economic Trend: Sustainable Business Creating More and More Jobs
o I believe that an opportunity exists here because the study found that sustainable business is going to create over 24 million jobs in the sustainability and eco-friendly job market. This opportunity is prevalent because even with many large corporations like Verizon Wireless and PepsiCo doing major layoffs it provides some relief. Also it gives countries in the Middle-East and Africa who rely so much on mining and oil for their economies to begin training employees in renewable energy practices.
o The prototypical customer is someone who has either recently been laid off due to one of the many major corporations layoffs, or is the large influx of new workers who are graduating from college in the blossoming field of Sustainability and Sustainable Business. However, these jobs range from working in factories monitoring waste to much less environmentally related jobs like working with companies to make sure they are filing correct paperwork, therefore the new jobs hit a large market.
o I think the opportunity is easy to take advantage because the large range and amount of jobs being created. With over 24 million jobs being created across the United States, there is really something for everyone which makes it obtainable.
o I think I saw this opportunity because recently I have been deciding my own future as an Environmental Science major. During my recent searches I have trying to see if the market is collapsing, growing, or doing something else completely. My search led me to here and helped me realize that all current trends are creating jobs for this field. But the jobs are not strictly limited, so many people can take advantage. I was able to see this because I thought about how many people will have to serve as Environmental Consultants, Engineers who develop new technology to be more sustainable, etc. therefore, creating so many jobs along the way.
· Economic Trend: Miami Booming Infrastructure
o Source: https://www.npr.org/2018/05/21/611919853/foreign-investors-shrug-off-miamis-rising-sea-levels
o I believe based on this article that there is a large opportunity growing in Miami due to their huge infrastructure improvements, as well as a lot of home owners selling their properties in fear of sea-level rise. This opportunity has grown because even though the city of Miami has continually pumped money into creating sea-walls and pumps, people are scared that their properties might be underwater soon.
o The prototypical customer here ranges from your average Florida citizen who currently lives near Miami and is trying to live on the beach for some of the cheapest property prices in years, all the way to large investors who are buying all of this cheap land in order to create major projects like hotels.
o This opportunity is very easy to take advantage of because so many people are becoming so fearful that they are trying to leave as soon as possible even if that means selling their homes for half of what they originally got them for.
o I found this opportunity because as an Environmental Science major I am very interested in how the human impact is changing our Earth. The loss of land in Miami is due to the constant growing of ocean levels, caused by global warming. My research led me to this article because it is close to home, therefore allows me to visit and formulate my own theories. It is easy to see this growing chance because of the sheer amount of research and homes that are being sold in the area like wildfire. I was able to digest this opportunity with a little bit of help from HGTV, but overall it is easy to see.
· Regulatory Change: Food Truck Reform in Illinois
o I believe after reading this article that there is a huge opportunity growing for food truck owners and not just in Chicago but across the United States. According to this article, food truck owners even those with proper licensing and paperwork are constantly being ticketed and abused due to very confusing laws. However, if this case is overruled and food trucks are given a bit more freedom and liberty on where they can place their businesses, this ruling could be the momentum that owners across America are waiting for. Food Trucks are hip and are favored by the growing part of American Society Millennials, therefore if this ruling is overturned there is a large chance for everyone to take a swing at it.
o The prototypical customer for this pending regulatory change is someone who either already owns a food truck business or someone who is experienced within the culinary world and it looking for a way to up their business. Whether that be your local mom-and-pop bakery or chains such as Chili’s or Applebee’s who could lead the market into a new trend. Most average citizens probably do not have the experience nor the capital to quit their day jobs, but if this sector begins to boom, I would except to see a large growth.
o This opportunity can be a tricky one to take advantage of for a couple of reasons. First, you need to have capital and some culinary experience before just buying a truck and serving the masses. It is expensive to buy the van and all of the necessary appliances, plus if you do not know how to use them what is the point. However, if you have one of these characteristics and can find a partner to fill in as the yin to your yang then this opportunity can be taken advantage of.
o I found this new regulatory change because I currently work in the culinary world and served in a food truck called Gourdough’s in Austin, Texas for several years. Therefore, this article has been blowing up my Facebook feed and for good reason. I have always dreamed of owning my very-own food truck and driving across America. But anyone would be able to see this opportunity because the ruling could lift so man barriers that were previously blocking the industry.
· Regulatory Change #2: Trump’s New Tariff on Steel and Aluminum
o After reading this article and a lot more from different sides of the political spectrum, I have noticed an opportunity growing within the United States. While I may not agree that these new tariffs are a wise move, they create a way for Americans and for American-based corporations to skip around the tariffs by buying and producing steel or aluminum in the United States. American-made steel and aluminum are not affected by the recent wave of tariffs therefore are cheaper than metals imported, creating a need for cheap metals.
o The prototypical customer is two separate types of people living in America, the large businessman who can afford to open up a metal mill and the lower to middle-class worker who lives in a town that could host such a mill. Both are hoping that this tariff will enrich their lives by creating a surge of companies buying American-made products due to their lower prices. There is so many towns where their economies rely on mills, and so many people in those towns hoping for a chance.
o This opportunity could be tricky to take advantage of because there is only so much steel and other metals that you can produce, and there is only so many companies looking to buy them within America. Our manufacturing industry is not as prominent and reliable as it used to be there, therefore it could be hard for someone to change this. Just look at Detroit for example, a city that was bustling but once their manufacturing plants were gone they were also gone. With thousands of people either moving out to find new jobs, or staying and becoming entrenched in poverty fighting for the few jobs left behind. This is why this opportunity could be difficult for someone to just revitalize years of decay.
o I found this article because it was one of the largest news stories of the week and also because my mom recently moved to Detroit where she does not in fact work at a factory. However, Detroit over the last ten years has really climbed itself out of the hole it was left in. So my mom sent me the link to this article and I immediately saw the opportunity. Think about it this way, if you are a business owner would you rather buy cheap metals that you can market as buying from your own country because you are a patriot, or buying from now more expensive foreign markets?
1.) overall once again i like the layout of your post, very easy to follow and interesting topics. All of the topics were good reads and impressively worded as well. Great blog post.
ReplyDelete2.) I agree with the two economic trends. Both have the idea of creating more jobs which is important for the economy today. Both provided good evidence on the best economy in the world (America) which is why I agree with it and found the economic trends you provided great!
3.) I once wanted to start a food truck and found the laws to be quite confusing. When I reached out to food truck owners and read a book about food truck owners, a lot of information was based on how the experience of owners know how to follow the law and serve the community in the right way. I think a coulpe of food truckers get ripped off but the majority dont get ticketed because they have found the way to do so.
Hey CJ,
ReplyDeleteLike you, I think the tariffs are a bad idea, but in regards to the point of the assignment and how it can be turned into an opportunity, you are absolutely right. The new tariffs can be exploited by getting in on the action early. The problem to me, however, is the possibility of it only being a short-term thing. The next administration may reverse the tariffs and given the current administration's trend of backtracking on things, I would be very concerned about the long-term stability involved.
Hello CJ, putting in perspective the opportunity of creating steel and aluminuim in the United States is interesting because obviously with this tariff it would make more sense just to buy American made metals since will be cheaper. I recently heard that the US will be going through a growth faze in the manufacturing industry so potentially it could be profitable and help out cities who rely more on their mills. I am not sure if the tariffs are wise either but they potentially could bring a lot more large businesses focus on staying in the country instead of importing.
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