6A Identifying Opportunities in Economic and Regulatory Trends

Economic Trends:

The Future of Work is Diverse and Distributed:

·      https://www.forbes.com/sites/forbestechcouncil/2019/09/18/the-future-of-work-is-diverse-and-distributed/#5d0aac5b7f04

·      This article explains that there is a rise in remote workers in the workforce. Because of technological advances, remote work allows companies to hire the most qualified candidates regardless of location. Additionally, top talent is increasingly attracted to remote work positions. This leaves an opportunity in the market for companies looking to provide those remote workers with workspace.  

·      Anyone who works remotely from home

·      This is a relatively easy opportunity to exploit because all the technology needed to build and provide workspaces already exist.

·      I see this opportunity because I worked remotely from home this summer. I used my local University’s library as a workspace however, this is not always possible for professionals. There is a growing need for remote office space and this need needs to be met.

Climate Change to Slow Global Economic Growth, New Study Finds 

·      https://www.cnbc.com/2019/08/20/climate-change-to-slow-global-economic-growth-new-study-finds.html

·      This article explains that climate change will put a toll on global economic output. Rising temperatures affect GSP (gross state product) per capita, labor productivity, and output growth in ten economic sectors. This leaves an opportunity for innovation with green practices in the market.

·      Most likely customers are corporate industry leaders, particularly those working in industries being most affected by climate change.

·      This opportunity is difficult to exploit because it involves using R&D to find cost effective and sustainable solutions to transform economic sectors.

·      This is an opportunity because climate change is inevitable. Our economic sectors will eventually need to adjust. The sooner we decide to make economic sectors more sustainable the better.

 Regulatory Changes:

Trump Says Cutting Regulations is Good for Business. But His New Battle on Car Emission Standards Could Hurt the Auto Industry

·      https://time.com/5680692/auto-industry-cars-california-trump/

·      The Trump Administration has rolled back California state level car regulations. The global car market and future investment is moving toward innovation and more fuel-efficient vehicles. This gives an opportunity to more environmentally friendly transportation services in the United States to fill this gap.

·      Most likely customers are environmentally conscious people in the United States looking for an eco-friendly transportation alternative

·      This is a difficult opportunity to exploit because efficient transportation alternatives require lots of R&D and changes in infrastructure, so working with the government.

·      I see this as an opportunity because the world is moving towards green energy and climate change is inevitable. Additionally, many US locals I’ve talked to want a clean and reliable transportation alternative.

Most Organizations Not Ready for New Privacy Regulations

·      https://www.securitymagazine.com/articles/90934-most-organizations-not-ready-for-new-privacy-regulations

·      Many US companies fail to meet common domestic and international privacy regulations that will go into effect in 2020. This opens up an opportunity for consulting in privacy regulations and IT. 

·      The most likely customer is a company that doesn’t meet the 2020 privacy regulations

·      This opportunity is relatively easy to exploit because there is little risk or uncertainty. Privacy regulations are concrete and established and the technology to meet the regulations exists. The most difficult task is finding high skilled workers that can carry out this type of consulting.

·      This is an opportunity because these regulations are not optional. They are going into effect in 2020 and a large percentage of US companies assessed in the Online Trust Alliance’s report failed to meet these regulations.