Identifying Opportunities in Economic & Regulatory Trends
1.
Brexit (regulatory)
B. The decision by the UK to leave the
European Union will cause an array of different changes to the country’s
economy, its people, and its relationships with other countries. Therefore, an
opportunity exists within this tumultuous period of change as the UK figures
out how it will conduct trade once the transition period has ended.
C. The prototypical customer in this situation
would be residents of the UK who have lived in their country as a part of the
EU for decades, and reaped in the benefits of the lack of trade and travel
barriers.
D. The opportunity is both straightforward but
also complex. The decision to leave the EU will cause massive changes to many
industries in the country, so the ease comes from the fact that there are many avenues
of exploitation. However, the difficulty arises because of the large number of
factors as well. So much change is going on that attempting to have widespread
impact with an entrepreneurial venture may be difficult.
3.
I personally thought about the situation that
is currently unfolding in the UK as soon as I began the assignment because I
have worked with international students during my time here at UF. Therefore, I
have close friends that live in England and Scotland that I talk to very
regularly and we discuss the problems that are happening in both of our countries,
one of them being the Brexit situation that they are currently enduring. Since
this is a topic I talk about more than the average UF student, that’s why I may
know more about it and therefore see the potential for opportunities that it
has.
1.
Coronavirus (regulatory)
B. The novel coronavirus epidemic that has recently
surfaced will have significant effects while the virus is still being contained
and treated. Travel abilities have already become infringed upon to ensure that
the spread of the disease is prevented, and this creates an opportunity as the
normal advents of business and leisure to countries most effected are
disturbed.
C. The prototypical customers that this
opportunity now arises in would include tourists as well as international
business.
D. This opportunity is somewhat straightforward
as it pertains to the business of travel. There are certain areas and countries
in general that are now being avoided due to the anxiety over this disease.
Thus, these now unmet needs can be targeted and other options can be offered.
3.
I may have seen how this situation correlates
with travel more quickly than others because I know that a significant amount
of international conferences are held in China and that Chinese tourism is a
huge industry.
1.
U.S. & China Trade Deal (economic)
B. The potential for opportunity from this
situation is pretty explicit, as both the U.S. and China are ease trade
restrictions between one another the ability to do business is easier.
C. The prototypical customer in this situation
would be importers in both countries who seek products from the other.
D. The opportunity is relatively straightforward
as the easing of restrictions mainly refers to decreasing tariffs. Thus, more
business can happen because it is simply cheaper to do so.
3.
I am currently enrolled in international
business, where we focus on international events and trends that have widespread
impacts on the economy. This was one of the situations we discussed, so I have
more knowledge about it than someone who may not be in the class.
1.
Social media advertising (economic)
B. The social media market has already risen
dramatically in the past decade, and it will continue to rise as the majority
of young people spend much of their time invested in their online presence.
C. The prototypical customer in this situation
are advertising companies that are using people with large online followings to
promote their products.
D. The opportunity is relatively easy to
exploit because there are now a lot of different influencers and content creators
that can be used. However, the saturation of the market also creates problems
as identifying which influencers pull in the correct market for a specific
product takes more time and effort.
3.
As someone that spends a lot of time on social
media and online in general I think I have just reflected on that time and
realized that companies capitalize on this and will continue to do so.
Hey Archie,
ReplyDeleteI appreciated that many of your opportunities were international. Brexit definitely would offer opportunities as much of England's trade and countries in the EU will be highly effected. Finding a way to capitalize or generate a product/service to aid this time of change would be a very interesting pursuit. It's cool that you are able to talk to your friends who live over in England and Scotland and get their perspective on the situation.