6A Identifying Opportunities in Economic & Regulatory Trends
Economic Trend
“Baby boomers aren’t retiring”
Opportunity: The great recession have left the baby boomers paranoid. This has caused baby boomers to continue working rather than retiring. Since baby boomers aren’t retiring, millennials will have to find another career track. This causes a disruption in career planning for millennials. Now, millennials are seeking other ways to work like creating their own jobs, seeking higher level degrees, or temporary jobs. Companies are less likely to hire full time employees which millennials are complying with by creating their own work force and willing to work part time jobs. The opportunity is with many millennials not willing to work full time, companies hiring less full time employees, and baby boomers not willing to retire is going to affect employment with younger individuals in the future. What should be done is help baby boomers retire by offering affordable living, and retirement benefits and offering better opportunities for millennials who do want to work full time. This opportunity difficult to exploit because it is targeting baby boomers and millennials (a huge portion of people). It seems millennials now need to be more creative when trying to find a job.
Prototypical Customer: Millennials who do want to work full time jobs, U.S. employment rate because the employment may sink in the future, and Baby boomers who do want to retire.
What I see: As a millennial, I do intend on having a career that is full time which worries me if this is going to be harder to achieve. Baby boomers are not allowing millennials to fill in these positions either which is a concern I have.
Economic Trend
“Interest rates are rising”
Opportunity: The federal reserve is going to raising fed funds to its 2% goal. The federal reserve will continue to raise interest as long as we are not falling into a recession. The opportunity is Americans will having higher interest rates in just about everything. This is a problem because Americans and the government don’t have much power on the federal reserve so not much can be done about this.
Prototypical Customer: Americans who have to pay more for things
What I see: This is an annoying because this means I will be paying more for future loans, paying more for a car, and paying more for a mortgage because of the increase in interest rates.
Regulatory changes
Religious expression in public schools
Opportunity: Students in Florida are now allowed to express their religion in public schools. They may also pray in school during anytime. I’m all for this and think it’s great students can express their religions. The change explains that students can not be discriminated. The opportunity I see here is that while it is okay to express your religious beliefs in school, students may be bullied and discriminated by other students. That can create problems for the school and end up creating bigger problem for the state.
Prototypical Customer: The school board, the school, the student who expresses their religious beliefs
What I see: I think this is a very nice thing to have done but it’s 2017 and America is having a lot of problems with religion, gender, and race. I think students will get bullied for expressing their religious beliefs. So maybe this wasn’t the best idea.
Regulatory changes
Taxation
opportunity : There is now a 3 day “back to school” holiday in Florida that requires clothes and footwear to cost $60 or less. Computers will also have a sale price of $750 or less. The opportunity I see here is Companies will now earn less for products during these 3 days. These companies will be earning less of profit. If I was an owner of a clothing line and had to reduce prices of clothes, I’d be a little upset and my pockets wouldn’t be too happy.
Prototypical Customer: Companies that sell clothes, footwear, or laptops.
What I see: If my job had to lower the price of food for three days, that would hurt our store sales, and could possibly hurt all the associates bonus checks (we receive bonuses according to sales) I understand back to school can cost a lot of money but from a business standpoint, companies are losing money.
Hi Nicole,
ReplyDeleteI came across the interest and baby boomer articles. Those are multiple opportunities there. Some may not be clear yet, but something can be done. I see your side for religious expression in school. However, I think schools need to correct that bullying situation. It is a good idea. Schools need to enforce anti bullying and support the kids who want to practice their religion. For the taxation, that will hurt the business, but I believe that those companies and stores would be able to find an opportunity here. If the business had a good marketing, advertising and PR team, then I bet they could figure out a way to make this in their favor despite not earning the typical sales off of a computer cost limit. I enjoyed learning from your post!
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DeleteHi Nicole,
ReplyDeleteIt seems as if the baby boomer article is a popular thing to talk about because it is so relevant to today's society. There are so many potential opportunities with the fact that so many people will be entering the work force, more jobs will need to be available. I believe that baby boomers pursuing hobbies they love is a great way to get through this problem. I also like your opportunity on taxation for back to school. I agree with this because it is hurting businesses and is not fair to them. All great opportunities though, nice job!