1. Economic Trend: US weekly jobless claims rise less than expected
I believe this information suggests an opportunity might exist considering the article poses that the economy is growing which could consequently drive new businesses to be created and more jobs to be offered as well.
I believe that the people who are most likely to be the customer with this opportunity would be any person that is currently unemployed and wishes to get a job which would, in turn, help the economy grow even more.
I believe it would be relatively easy to exploit this opportunity considering the fact that since unemployment rates are very low, there are more people that are inclined to spend money and possibly open new businesses which would decrease unemployment rates even more.
I'd say I saw this opportunity just due to research, I believe anybody could have seen this opportunity had they been aware of the situation. A strong economy usually means that businesses are doing relatively well which is a good thing.
2. Economic Trend: Oil shock hits a global economy that's already on shaky ground
I believe this information suggests an opportunity might exist considering this could increase the price of oil immensely. Consequently, it would affect numerous different economies including but not limited to the China, Germany, the United States, and the United Kingdom.
I believe that the people who are most likely to be the customer with this opportunity would be those aforementioned economies. Basically, any economy that uses oil in day-to-day activities.
I believe it would be relatively easy to exploit this opportunity considering the fact that no matter the country in need, they would most likely pay any price for a resource that is as pivotal as oil is.
I'd say I saw this opportunity just due to research, I believe anybody could have seen this opportunity considering it is not hard to put 2 and 2 together just by knowing economics and how supply and demand affect prices of products and services.
3. Regulatory change: Paid Leave Laws
I believe this information suggests an opportunity might exist considering paid family leave laws are not something most people think about when it comes to jobs. Most people put more importance on paid sick leave laws or maternity leave laws, but not many put more importance on family leave laws over those previously mentioned ones.
I believe that the people who are most likely to be the customer with this opportunity would be people that have a family to take care of. In this case, since maternity leave is already very prominent, maybe even paternity leave laws that were more enforced.
I feel neutral when it comes to thinking about how easy or hard it would be to exploit this opportunity because not many put much importance to family leave laws unless it revolves around maternity leave laws which are already enforced pretty frequently.
I'd say I saw this opportunity as opposed to someone else through my grandma since she has dealt with family leave issues in the past. She's had to take care of her pets whom she considers her family and are amongst the most important beings in her life and has told me about it.
4. Regulatory change: Trump administration allows pork slaughterhouses to have fewer USDA inspectors
I believe this information suggests an opportunity might exist considering these slaughterhouses now have no restriction in regards to the speed of the slaughter lines and required fewer workers meaning they would be saving money. To replace these inspectors they used to be required to employ, these slaughterhouses may now instead hire other workers that may benefit them in other ways.
I believe that the people who are most likely to be the customer with this opportunity would be slaughterhouses and workers that may now be employed by slaughterhouses who weren't originally employed prior to this change in regulation.
I believe it would be relatively easily when it comes to thinking about how easy or hard it would be to exploit this opportunity because these slaughterhouses will be saving money by employing people who probably get paid less than a USDA inspector would and thus increase profits by benefiting from the lift on the speed limit of the slaughter line.
I'd say I saw this opportunity as opposed to someone else due to research, this may raise brows in terms of health regulations. However, for those business owners that are affected by this regulatory change more directly, can be seen as an opportunity to save money and increase profit.
Hi Nathan,
ReplyDeleteI agreed with you on the first article you chose. There is definitely an opportunity cost there because it would allow for more jobs to be offered, and one of the main problems we are facing is people trying to find jobs. For example, college kids are always trying to find jobs so with this opportunity they wouldn't need to worry.
Amanda Gonzalez
Hi Nathan,
ReplyDeleteI agree with you on the second point saying that an alternative resource to oil would be worth a lot to many economies. Even though I looked at a rather specific issue myself concerning a medical database in the European Union (https://olliesentrepreneurshipblog.blogspot.com/2019/09/assignment-6a-identifying-opportunities.html), I think solving issues involving a number of countries could definitely lead to a breakthrough if the solution is good enough. As oil is mainly used for energy carriers, not only a different (limited) resource would be good to find, but an alternative as an energy carrier could be even a step further.
Ollie
Hi Nathan,
ReplyDeleteYou bring attention to an interesting point about the pork slaughter houses. This was something that I was unaware of , but do believe this needs to be addressed. The conditions where our food comes from is already bad enough and having fewer inspections may be a hazard to our diets and lifestyles. Additionally the oil crisis is a constant battle and something that can always effect our economy and eventually our future.
Sarah
Hi Nathan,
ReplyDeleteLow unemployment is great for the economy. I agree people that are unemployed may have an easier time finding a job now than in recent years. Oil is a very valuable asset to many developed countries. We use it daily for numerous purposes, and global conflicts are creating an unstable oil market. When I was researching I also read a lot about paid leave laws, and it will be interesting to see how small businesses will navigate these changes.