6A – Identifying Opportunities in Economic & Regulatory Trends
Economic Opportunities:
1. On bea.gov I read that the real gross domestic product (GDP) in the third quarter of 2018 increased by 3.4%. This is a solid growth rate that is not expanding too fast and not too slow. However, there could be an opportunity as we move into 2019 to follow some of the same trends as last year although we are currently seeing the government shut down. The customer with the most opportunity would be someone who is wealthy enough to boost the US economy. This is a difficult opportunity to exploit because we need the entire nation to participate in this activity and there are so many different factors that contribute to this GDP growth or decline.
2. Health care costs are elevating since the elimination of Obamacare since 2019. As a result, insurance companies are having higher operating costs to deal with. The customer at stake would be anyone who is sick and needs health insurance to survive and these insurance companies will not be able to provide as much coverage. Also there will be longer lines at the emergency rooms and will be a current economic trend as a result of higher health insurance costs that citizens cannot afford to pay.
Regulatory Opportunities:
3. Energy regulation of the planet as a whole is essential to preserving the condition of the world's natural environment in order to survive. With proper regulation practices of the water supply, lighting, and fossil fuel use such as gas, we will most likely see a healthier environment that will reward future generations to come. I formed this belief that an opportunity exists because it is so simple to recycle, turn of the lights or water to help save the planet. With stronger environmental regulations and more affordable hybrid automobiles, individuals will start to see the climate change being on a more strict pattern.
4. Technology has become part of pretty much everyone's lives in today's society. Whether we are walking, in bed, or on the bus, you will normally see someone on their cellphone doing something. There are some dangers that come along with technology that should be regulated more strictly. For example, credit card crooks, terrorism and fake people on tinder or Facebook. There is an opportunity to prevent pretty much every individual (customer) from technology dangers by the government imposing more severe consequences. Privacy and security is essential for customers when using any form of technology that asks for any of your personal information. This opportunity will provide a safe and happy world for years to come. However, there are numerous cyber hackers out there that will ultimately bypass a certain new prototype or prevention imposed by a technology company.
1. On bea.gov I read that the real gross domestic product (GDP) in the third quarter of 2018 increased by 3.4%. This is a solid growth rate that is not expanding too fast and not too slow. However, there could be an opportunity as we move into 2019 to follow some of the same trends as last year although we are currently seeing the government shut down. The customer with the most opportunity would be someone who is wealthy enough to boost the US economy. This is a difficult opportunity to exploit because we need the entire nation to participate in this activity and there are so many different factors that contribute to this GDP growth or decline.
2. Health care costs are elevating since the elimination of Obamacare since 2019. As a result, insurance companies are having higher operating costs to deal with. The customer at stake would be anyone who is sick and needs health insurance to survive and these insurance companies will not be able to provide as much coverage. Also there will be longer lines at the emergency rooms and will be a current economic trend as a result of higher health insurance costs that citizens cannot afford to pay.
Regulatory Opportunities:
3. Energy regulation of the planet as a whole is essential to preserving the condition of the world's natural environment in order to survive. With proper regulation practices of the water supply, lighting, and fossil fuel use such as gas, we will most likely see a healthier environment that will reward future generations to come. I formed this belief that an opportunity exists because it is so simple to recycle, turn of the lights or water to help save the planet. With stronger environmental regulations and more affordable hybrid automobiles, individuals will start to see the climate change being on a more strict pattern.
4. Technology has become part of pretty much everyone's lives in today's society. Whether we are walking, in bed, or on the bus, you will normally see someone on their cellphone doing something. There are some dangers that come along with technology that should be regulated more strictly. For example, credit card crooks, terrorism and fake people on tinder or Facebook. There is an opportunity to prevent pretty much every individual (customer) from technology dangers by the government imposing more severe consequences. Privacy and security is essential for customers when using any form of technology that asks for any of your personal information. This opportunity will provide a safe and happy world for years to come. However, there are numerous cyber hackers out there that will ultimately bypass a certain new prototype or prevention imposed by a technology company.
Hi Matthew. I agree with your comments about health care costs. I am convinced there is an unmet need with regard to affordable health care. I believe that Obamacare is still in effect for 2019. The Affordable Care Act is still a choice for many people. I read there is no penalty for not having ACA this year, though. It is still not affordable enough. I believe the regulations are so tough that it creates barriers to entry for creating a insurance providers who could provide more affordable alternatives. I also included the economic trend regarding cyber crime in my post. I believe regulation is important but I also think we need to educate which could be an opportunity in of itself.
ReplyDeleteHey Matthew,
ReplyDeleteI found that the examples of economic and regulatory opportunities you used were really good. I especially agreed with the one about environmental energy consumption. I think that we need to figure out a conclusive way of regulating our energy output worldwide, especially in developing economies. I like how you highlighted the benefit of recycling and how this simple act can help so much.