A) Source: https://www.forbes.com/sites/miltonezrati/2020/05/26/ominous-news-as-the-economy-re-opens/#2e90dbe81537
B) Many companies and businesses didn't expect the economy to be as drastic as it has been due to COVID-19. At first, many businesses closed down and cut back their cost but not enough to the point of them still being able to run their business. Many of these companies face the decision of whether or not they should downsize or permanently shut down. I could see this as an opportunity to plan always for the worst circumstances and to look at your business from a future perspective. I know these circumstances are unique and no one knows what the future holds but many business owners should look for new customer opportunities that will develop after this pandemic that many people would not see.
C) The prototypical customer is many business owners who have had to temporarily shut-down during this pandemic. With the economy uncertain many people are having to look for new solutions to make money. I know some restaurants are working very hard by hand-delivering food to people's houses and setting deals for family portions at half the price.
D) I think this opportunity would be hard to exploit, especially during this time when people are struggling to put food on the table. I think that some people though will take this time to discover new ideas or hobbies that they enjoy that could be a potentially new idea for the market.
I think many people are confused and anxious about what the future holds. Personally, I know many people who have lost their jobs during this time and they seem to have a very optimistic attitude about what their plan is after this. A lot of people are taking out loans to keep their business up instead of actually analyzing how they are going to come back from this pandemic. I think it really unique how many people have picked up other small jobs or hobbies to pass time that could actually be the start of a small business. For example, my neighbor is a chef and started making meal-prep dinners that could be sold in a large quantity that many of my family and neighbors have enjoyed.
Opportunity #2: How Loosening Regulations can fight Coronavirus and Help the Economy
Opportunity #2: How Loosening Regulations can fight Coronavirus and Help the Economy
B) I think that loosening up regulations will give many small businesses the opportunity to keep going and make enough profit to keep up their shop and business running so they don't have to file for bankruptcy. I think these new regulations will also allow consumers the opportunity to go back to their normal shopping habits especially since these regulations are lowering tariffs for other countries to import their products here.
C) I think the prototypical customer will be a majority of the American population who have been affected by COVID-19. Many citizens have their own business and could really benefit from these new regulations that will allow them to start running again. It will also help the economy in general by allowing money to flow back into our accounts for us to spend and help normalize our lives.
D) I think with these new regulations will allow this opportunity to be relatively easier to exploit than before. I think we are all eager to go back to our normal lives and I think these regulations will really allow for businesses and consumers to start this process slowly.
I formed this belief because I really value our economy and I think this is the best option to help us get back on our feet. I understand that it will take a long time for things to get back to normal but I think these baby steps of loosening regulations are the best move forward for many businesses. I believe that this will help us to start getting back into a routine and that it will save a lot of businesses from going bankrupt.
Opportunity #3: U.S. Regulatory Trends- 2019 and Beyond
B) Online currency has been a growing trend and it has grown even higher recently due to this pandemic. That being said, I believe there is an opportunity for cyber-security to grow and increase in popularity and efficiency especially in the financial industry. As cyber-security gets better so do the masterminds behind the criminal act. I believe that people can sometimes be desperate and since COVID-19 has happened more people are becoming even more desperate for money.
C) I believe that most businesses are in need of better cyber-security, especially ones in the Financial industry. No company wants to go through that and I think since the government has made more regulations to protect their privacy with new cyber-security it will help lower this threat a lot more.
D) I think this opportunity will be hard to exploit. New technology is being invented every day and some hackers may always be a step ahead of the game with nothing you can do. I think this opportunity will help lessen that threat but not fully.
This summer I am working as an intern at a financial investment company and I have seen first hand how important cyber-security is to a business. I think sometimes it can be overlooked but it is the protector from the outside world so they can't access important information. I can easily see this trend growing and I was happy to read that the government is doing more by regulating companies' privacy.
Opportunity #4: Stocks Rise on Hopes for Economic Recovery
B) As the economy is slowly opening back up, the stock market has a lot of potentials to flourish again. Many airline restrictions and commerce have been lifted which allows plenty of investors to take advantage of that opportunity by buying stocks in this sector of the economy. Also, with the reopening of new businesses, there is plenty of opportunities for investors to start buying those stocks at a low price with major potential for a profit.
C) I think the prototypical customer for this opportunity would be people who are either investors or follow the stock market to realize the potential that their money could make if they start buying stocks. I understand how this probably is mostly an opportunity for families who were not as financially affected by COVID-19 and have the blessing of having enough extra money to take apart if this opportunity.
D) I think opportunity will be relatively easy to exploit if you have the knowledge and interest in investing in the stock market. I think for people who watch the economy everyday will have a great advantage to invest their money.
I believe this opportunity is one that I saw relatively easily because I have the opportunity to intern at a financial investment firm where I hear about the new stock market opportunities everyday. I don't think many other people have this opportunity in mind especially during this time in the pandemic. I think the people who are interested should take advantage of this economic prosperity.
Kendall,
ReplyDeleteYour first economic trend opportunity was interesting to me. You are absolutely right, businesses need to plan for the future more often. That is easy to say now at this moment in time but it is actually smart. Businesses need to consider other ways of revenues, as you said, because times really are uncertain and you never know when situations like COVID-19 could occur again. At first I did not understand entirely, then I read the part about your chef who is a neighbor and began making meal-prep dinners. That is exactly the entrepreneural and futuristic thinking that many business owners need to adopt.
I love the detail you put into this post!
ReplyDeleteI especially enjoyed your third opportunity. Cryptocurrency and COVID seem like totally different things, but they definitely do affect each other. I really appreciated how you considered COVID as a trend of the world today that would affect an opportunity, because it totally would! It’s great that you didn’t simplify it to simply complete the assignment.