Assignment 14A – Halfway Reflection

Tenacity & Paying It Forward

1) Tenaciousness is a competency:

One of the behaviors that I have used to keep up with the requirements of this course is turning my work in on time and before the deadline. In this class to do well and learn the concepts that are taught you need to do all the assignments. A behavior that I have started to develop is enjoying the journey while doing the assignments because this will allow you to have more fun while also learning the material. Additionally, the last behavior that I have used is the determination to watch the lectures and grasp the knowledge of the course and to complete the assignments on time. All these behaviors have helped me keep up with course objectives.

2) Tenaciousness is also about attitude:

Any moment that I have felt like giving up is rare, however, I have felt this feeling before in this class. One moment that I felt like giving up was when I had a lot of other work from my other classes that piled up because I procrastinated a lot of it. Then it came to my entrepreneurship work and I was feeling anxious about finishing it all. I was on the verge of just quitting and switching classes or just not doing the assignment. I knew if I didn’t do the assignment I would be behind already. Despite having that feeling, I pulled through it and completed my work on time and all my other work. The thing that reminded me not to quit was my core values of determination and hard work by it telling me “I don’t give up.” During the past two months, I have developed more of a tenacious attitude that I had. Before this class, I already had a determined mindset and rarely things deter me. I think through this class that attitude has gotten a lot stronger. This tenacious attitude grew larger by the experience of talking to a lot of people and exploring more options with my service. The experience of gaining insight into an opportunity then to plan to start a service to solve that problem you discovered has made me more tenacious. The experience of discovering more about a venture throughout this course has made me want to follow this service through and not give up.

3) Three tips:

The three tips I will offer to next semester’s student about fostering the skills that support tenacity and developing the 'tenacious mindset’ are:

1. Plan to complete work ahead of time and then continue to get ahead on assignments, this will allow you to still learn the material and have more free time.
2. Be organized with your work and don’t ever give up even if it’s difficult, you can accomplish your tasks on time and do your work efficiently.
3. Focus on the big picture of the class but enjoy the journey, by this you will never lose sight of the end goal and you’ll have fun with the class.

Assignment 13A – Reading Reflection No. 1

Elon Musk: Tesla, SpaceX, and the Quest for a Fantastic Future, Ashlee Vance

1) You read about an entrepreneur:

·         What surprised you the most?

The thing that surprised me the most about Elon Musk was he decided to form his own rocket company with there already being established corporations and institutions. He felt like the space program stopped improving about a century ago, so he wanted to make a change in the way people thought. Eventually, he infused SpaceX with $100

Million from the sale of PayPal.

·         What about the entrepreneur did you most admire?

I most admire his poise and his willingness to keep fighting to the end to be able to save his companies. For example, when the press seized a negative memo leaked anonymously, he almost considered letting the companies fail. Instead, he bluffed investors trying to hardball him and got the money to keep his companies alive. That willingness to not back down in the face of adversity and take a risk is what I admire the most about this him.

·         What about the entrepreneur did you least admire?

The thing that I least admired about Elon Musk was when he had to live with his difficult and strict father. Musk said that living with him made life miserable and has vowed to never let his kids meet him. I don’t like that; your parents are who make you are and no matter if they were strict or not you should still let your kids meet their grandfather. Also, I did not like the fact after he got divorced from his first wife he remarried within a few weeks.

·         Did the entrepreneur encounter adversity and failure? If so, what did they do about it?

Yes, the entrepreneur encountered adversity like when his newborn son died suddenly or when his rockets failed to take off a lot of times. Also, another time he faced adversity was when he went on a honeymoon with the first wife and a group of employees at PayPal went to the board to replace Elon. So, what he did about all the adversity and failure is taking risks and continue to fight and never quit. He stayed levelheaded and didn’t let his emotions take over, instead he continued to invest.

2) What competencies did you notice that the entrepreneur exhibited? 

A few competencies that I noticed that Elon exhibited was always seeing a new opportunity he liked and then taking the initiative to pursue them and then to invest in them. Another competency was he stayed committed to the companies he got invested with and always persevered to make sure that he succeeded in the end. He made sure that the companies succeeded by taking calculated risks as seen when he bluff hard balling investors to keep his company alive. Another instance of this was when he entered the rocket industry and still competed with experienced companies. Finally, the next competency was he always demanded efficiency and quality. This can be displayed to Elon putting potential employees through a 500-line of coding tests, a personal letter, and during the interview asking incisive questions and riddles. His standards were very demanding, but this is what made his companies so successful, and how they are different from other companies in the same field.

3) Identify at least one part of the reading that was confusing to you.

One part that I found confusing was that he decided not to return to his roots of gaming and realized that it would not be the future of humanity. However, he did his second internship at the Rocket Science Games, a start-up that focused on creating state-of-the-art video games. This situation is confusing to me because why would he want to do an internship in something he already turned down the fact of pursuing video games. Another part that was confusing to me was that Elon berated employees at parties. I thought parties would be a fun environment to relax and have fun, so I don’t know why he would berate them.

4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?

1. Why do you think it is necessary to put your interviewees through such a demanding process before hiring them?

2. With all the work-family conflicts you have experienced, do you think it is

important for someone to have a life balance in the aspects of work and family?

Explanation: I would ask these questions to Elon Musk because first I would like to know his thought process behind asking people interviewing for his company. Second, I know from the reading that he had a work-family conflict and this affected his life, so I was wanting to know his opinion on the matter.

5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?

I think that his opinion of hard work was that it was the only thing he could do to accomplish his goals. He put his work over his family a lot, so he could make the world a better place. He believes highly in working hard to make a change in things instead of being motivated by other things, like money. Yes, I share this opinion of hard work that motivates me to accomplish my goals and to get things done. I have always been a hard worker and don’t plan on stopping now. I want to accomplish a lot and live a happy life helping make a difference in the world like Elon Musk.

Assignment 12A: Figuring Out Buyer Behavior No. 1

●     Segment: The segment that I have chosen to pursue is Demographics. Specifically, the age group that I will target is the younger generations from ages 18-24.

●     Person #1-

When? This person noticed that he has this need while he is riding his scooter on the road. Either going to class or just using it as transportation on the weekends. How? He has this need when he rides his scooter or rides on the back of a friend’s scooter. Where? Every weekday he rides his scooter to class and when he decides to ride it over the weekend on 34th Street, Museum Road, and Gale Lemerand Drive. The very first thing that he does when he realizes this problem is to find a solution by going onto the internet. He said that he looks for information that is from a credible source or he looks in online books. When he searches on Google, he searches are about “riding scooters” and “what not to do while riding on someone else’s scooter”. This specific individual does not talk to friends or family about his problem.

●     Person #2-

When? This individual has this need Mondays and Wednesdays and every weekend that she will use her scooter. Also when she wants to ride over to her friend’s place or her sorority. How? She has class every Monday and Wednesday, so she uses her scooter then and on the weekends when she has plans she will ride over to her friend’s place. Also, the other days that she doesn’t use her scooter, she rides with her friends in their cars. Where? She has this need mostly every week when she is traveling to classes using her scooter on University Avenue. Or when she has to drive over the weekend and use drive her scooter on Museum road and 13th street. The very first thing that she does to find a solution to this problem is to either talk to her friends or family about it or looks up facts online about it. The look for reliable sources on the internet or she uses other people’s knowledge of the situation to help solve her problem. When she does search on Google, the search is about “tips for riding scooters better” or “ways to be safer while riding a scooter”.

●     Person #3-

When? This person experiences this need when he goes to class during the day or when he has to go to work at night or on the weekends. How? He has this needs every day of the week, Monday-Sunday because he uses his scooter as his main mode of transportation since he doesn’t have a car. He will either has class during the week and when he doesn’t have class he has work and that includes the weekends. Where? He has this when he is riding on very busy roads going to and from work including University Avenue, 34h Street, and Archer Road. Also, when he is traveling to his classes he even experiences it on less busy roads on campus like Museum Road and Newell Drive. When he noticed that he was experiencing the problem on the scooter, he did not do anything to find a solution to that problem. However, he said that if he were to search for information regarding the problem, then he would go to family and friends that own a scooter or a motorcycle. This individual does not search on google to try to solve this problem. He does not like to use his phone that much or waste his time looking up things on the internet.

Interview Summaries & Conclusion: In these interviews, I learned that a lot of people are not aware of this problem. However, there isn’t an offered solution that currently exists. The only thing to help remedy this problem is to gain expertise from friends/family or the internet. Also, in this segment, I have seen different views about gaining information about the problems. Some people prefer talking with friends and family or other people would rather look at resources online. I would describe this segment in terms of need awareness by not enough awareness of the problem at all unless it directly affects them or their way of life. They could gain more awareness by doing research or talking to friends more about the problem affecting them regarding the knowledge and safety of riding a scooter. I would describe this segment in terms of information search by finding only the necessary information to get by or to just get through the problem they are having. The younger generation does want to look deeper into the problem because they feel as it wastes their time.

Assignment 11A: Idea Napkin No. 1

1) You.

I am a senior at the University of Florida (UF) majoring in Business Management. I have switched my major from Engineering to Business while going through my educational journey at UF. Some of my key talents and skills are Leadership, decision making, reliability, communication skills, athleticism, integrity, and dedication. Also, I have my motorcycle endorsement and have been riding a motorcycle for over two years. Additionally, I am in Air Force ROTC, so I have gained experience in Leadership, decision making, communication, and integrity. Some experiences are that I have played football since I was about six years old, I have played soccer for some time as a kid, did track & field in high school, and won the scholar-athlete award in the District 7A high school football state championship for my dedication to academics while still playing sports. Attending and completing Field Training for AFROTC has shaped me because it is a 13-day intense leadership evaluation while being under tremendous stress. Switching majors while being in college has also made me who I am because I had realized I didn’t want to do engineering in my future. Instead, I wanted to do something I had an interest in and would like to follow as a career. I want to graduate UF with my degree in business management and upon graduation, I will commission into the Air Force as an officer where I will start my career. I will still be using my education in management as I will be applying some principles learned in my classes to my leadership and management style. If I were to start this business, it would make my life busier, but it would also provide something I could do in my off-time and help run it. This business will help make me some more money, so then I can help change the world by helping keep scooter riders safe. This business will help me learn some business techniques and some valuable life lessons as well.

2) What are you offering to customers?

The service that will be offered to customers is a scooter course at local dealerships that offer scooters. This course will help educate new or current scooter riders on the proper driving and safety skills. Also, people who complete the scooter course will obtain a discount on a new or used scooter. The idea of pairing up the service with the discount on a scooter will help not only the people taking the courses but will also help the dealership make more money. Everyone that completes the scooter course will gain vital rider and safety knowledge. Also, there will be more money that will flow into the market and the economy. The unmet need of people that ride/own a scooter and not lacking rider and safety knowledge will decrease. This need will decrease because the offered scooter course is educating more people on the correct rider and safety knowledge.

3) Who are you offering it to?

In general, people that have been involved with a scooter in common by either owning, riding or having a thought of owning a scooter in the future are all customers for this service. The demographic characteristics of my customers are students or people in Florida that would be involved with a scooter. This service will not be limited to the younger population, as there are older people that are scooter riders. They just might not find the value in taking these courses before buying a scooter or even after owning a scooter for some time. Dealerships that sell scooters are included in who the service will be offered to since they will find value in it with the added business that the course will bring. People that have a scooter already are still included in the customer base but are not the target audience. This is because they will feel as their driving is good and don’t need to take the courses.

4) Why do they care?

This is a unique service that I will offer to customers because it will be the one way that people can gain the proper rider and safety knowledge that is specific to scooters. Additionally, along with gaining important rider and safety knowledge for scooters, the customer that completes the course can purchase a new/used scooter at a discount from the dealership. The only other way to gain rider knowledge is through a motorcycle safety course, in which you gain motorcycle knowledge. People would want to learn information on the specifics of riding a scooter. This service will be beneficial to them because it will keep people will be safer on the roads and will know proper techniques on riding.

5) What are your core competencies?

The thing that sets me apart from everyone else is that there is currently no service that offers scooter courses and after completing the course you will earn a discount on a scooter. I have a service that is linked to a discount of a scooter in the dealership and this product-service combination is the only one like it. Thus, more people will want to take the course to feel better while riding on their scooter. This service will lead to more changes involving scooters to help maintain rider safety, including legislation on scooters in Florida.

Evaluation:

I believe that all these elements fit together well because it is important to make sure everyone driving on the road know how to drive their vehicle and how to be safe. All the elements go with my idea of keeping everyone safer on the road and to cut out on expensive hospital visits for people. This will help the state that there was a problem with scooters and then will show more support for the provided education for two-wheel transportation. It fits well with myself since I own a motorcycle and have been riding for over two years. So, then I realized that scooter riders don’t know correct mechanics for riding, parking or being safe on the road.

Assignment 10A: Elevator Pitch No. 1

Link for Elevator Pitch:

https://www.youtube.com/watch?v=t-fqzxOGzhc&feature=youtu.be

Assignment 9A: Testing the Hypothesis, Part 2

Interviews:

Person #1: Female, 22-year-old, College Senior at UF

She owns a scooter and has been riding for three to four years. She feels that having the riding experience that she possesses already, then she knows how to ride and feels like the course would be a waste of time and could be better used for studying. This person believes that she doesn’t need these courses because of the experience she gained already while riding her scooter over the years.

Person #2: Male, 50-year-old

He also owns a scooter, but he has been riding for 5 years. He is an older gentleman and thinks that his driving is better than a lot of the college students that own and ride scooters. Thus, he thinks he would be wasting his money on a course he feels is unnecessary. He said that if he would’ve started to ride at a younger age then the courses would be helpful.

Person #3: Male, 18-year-old, College Freshman at UF

He has just recently purchased a scooter and believes that he would not benefit from taking the course. He believes that he has great driving skills and doesn’t think that he could get hurt from not knowing how to properly ride a scooter. He said, “I’ve just got my scooter and it's easy to ride, what can be so difficult to know about it?” He also states that all his friends ride scooters and never took a class on it and doesn’t think he needs them.

Person #4: Male, 23-year-old, College 5th-year at UF

This individual has owned and ridden a scooter for all five years that he has been in college. He said, “I don’t care about taking the classes. The classes are pointless, and I think that I won’t get hurt on it.” He stated that this class would be a waste of time and rarely anyone gets into accidents on scooters.

Person #5: Female, 21-year-old, College Junior at UF

She has owned a scooter for over a year. She said, “There isn’t that much to get about riding a scooter, why should I take a class about riding my scooter when it’s so simple?” She also stated that her scooter driving is just fine so there is nothing to learn or change about it. She wouldn’t find value in the scooter riding courses that would be offered at a dealership.

Summary:

After conducting my interviews, I have concluded that there is a group of people that would not like my service that I would be offering to help solve the problem of lack of scooter rider knowledge. The people outside the boundary either don’t own a scooter or have owned a scooter and do not find value in the courses. They feel as though the courses would be a waste of time and money.

The Who, What, and Why:

Who: The certain people that would fall outside the boundary are people that don’t own/ride a scooter, people that have owned a scooter for a year or longer, people that just bought a scooter and just don’t find value in riding lessons and older people that own a scooter. The people fall outside the boundary because they see the courses as a waste of time and money when they could put the time into something else. Certain businesses that would fall outside the boundary are dealerships that don’t sell scooters because they wouldn’t find value in offering these courses at their place and couldn’t offer a discount on a scooter after the successful completion of the course.

What:  These scooter courses will help new/ previous owners with gaining the proper knowledge and safety instructions while riding a scooter. The need for scooter riding knowledge is not important to people that don’t want to know how to ride properly and be safe. Also, these people don’t think that they’ll get hurt while riding and everyone else on the road knows how to ride. People outside this boundary believe this need is a waste of time and money.

Why: The outsiders’ that already own scooters and have been riding for some amount of time or older people don’t see the lack of knowledge and safety of riding a scooter a concern. They believe that it is not a concern because they feel as if their driving is already good enough and they don’t see what is difficult about riding a scooter. The outsiders are not aware of the dangers while riding a scooter and the significance of viable rider knowledge and safety.

Descriptive Table

Inside the Boundary	Outside the Boundary
Who is In: Students/people in Florida that fall inside include those that: ●     Ride or own scooters ●     Have thoughts about buying a scooter ●     Older scooter riders that find value in rider knowledge Scooter dealerships are also included	Who is Not: Students/people in Florida that fall outside are those that: ●     Don’t own/ride a scooter ●     Owned a scooter for more than a year and older people that don’t understand the value of the scooter rider knowledge. Also, any business that doesn’t sell scooters.
What the Need Is: Better scooter knowledge of riding, parking while being safe riding a scooter on the road.	What the Need is Not: This course is not vital to be able to ride a scooter safely. The scooter courses will waste your time and money.
Why the Need Exists: It exists because of driving and safety courses for scooters do not exist in Florida. The Department of Motor Vehicles (DMV) does not offer these courses because you don’t need a specific certification to ride a scooter.	Alternative Explanations: The outsiders don’t find their lack of knowledge as a concern while riding. Their driving on the road is already good enough “to get by”. Find riding a scooter easy enough to not need classes. They don’t care about taking a course that will enhance their rider education and safety on the road.

Assignment 8A: Solving The Problem

Offering Scooter Courses at the Dealership

Opportunity: Students and people in Florida that ride/own scooters possess inadequate knowledge of riding and being safe while being on a scooter because courses do not exist for the riders to take in Florida regarding safety and driving etiquette.

Product/Service Solution: With more and more students and people in Florida buying scooters, the need for a scooter driver/safety course is apparent. The solution is a service that I would offer to scooter riders at a local scooter dealership. Flyers will be posted around town to help lure more people in especially the current riders that have been riding for a decent amount of time. The idea would be to link the service of the scooter courses and the price of the scooters.  The scooter courses will be offered at a certain price which after successful completion will give that person a discount on a new or used scooter in the dealership. All scooter riders that complete the course will gain the necessary rider and safety knowledge effectively.  Additionally, the completion of the course gives the dealership a better opportunity to sell their scooters to those new riders or even to people that already own a scooter. This opportunity will be a win-win for the state of Florida, by keeping people safe on the roadways and by pumping more money into the economy. From scooter drivers not knowing how to properly drive, like turning, to riders getting into accidents and getting injured from this lack of riding knowledge. All the problems stated in the previous statement can be avoided. This solution will help try to solve this unmet need and the problems it presents to current/future scooter riders, motorcyclists and other drivers on the road in Florida.

Assignment 7A: Testing the Hypothesis, Part 1

The Opportunity- Students and people in Florida that ride/own scooters possess inadequate knowledge of riding and being safe while being on a scooter because courses do not exist for the riders to take in Florida regarding safety and driving etiquette. 

• The Who: Students and people in the state of Florida that ride/own scooters or the people thinking about buying a scooter.
•  The What: They possess inadequate knowledge of riding, parking and being safe while being on a scooter.
• The Why: Driving and safety courses don’t exist in Florida for scooter riders to take regarding safe driving and driving etiquette.

Hypothesis- My hypothesis will be extending from the why part of the opportunity. I believe that driving and safety courses don’t exist in Florida because having to complete the course to buy and ride the scooter is not a requirement as it is for someone who rides a motorcycle. It is a law that you need your motorcycle endorsement to ride a motorcycle, however, it is not a law that you need to complete the driving course to ride a scooter. Additionally, I believe that the courses are not offered in Florida because people are unaware of the consequences that come from inadequate knowledge, so they haven’t been offered at all. This subject of scooters is very important for me because I ride a motorcycle so I believe anyone that rides on two wheels should know how to ride properly and safely.

• Testing the Who: Other people that are not included in the current ‘who’ share this need. There are other people not in this who because there might be other states that do not have scooter courses available to take so they can sharpen their knowledge. Also, other people that drive on the road, including motorcyclists, are not included in the who but still share this need because they interact with scooters on the road.

• Testing the What: The boundaries of this opportunity would be people being lazy and not wanting to take the time to properly learn how to ride the scooter in the first place. Another boundary would be having to go through the DMV to get this class approved to be able to teach. Also, for the courses, finding a person that can teach it will be a challenge as well.

• Testing the Why: This is a need for everyone because having more knowledgeable drivers and riders on the roadway will make it safer for all. The number of scooter-related accidents will drop significantly. Not all will think that the courses are a necessary thing to have and will continue to risk their safety and others on the road. Some riders will blame not offering these courses on the state government, others will blame other drivers not knowing how to drive on the road.

Interviews-

• Person #1: An 18-year-old Female

This individual is thinking about buying a scooter and would like this need for her safety and well-being while being on the road riding her scooter. Also, to be a more defensive driver the course is even more important to her. She said that having this course offered before buying her scooter is very important because she believes it will enhance her riding experience later throughout college.

• Person #2: A 21-year-old Male

This individual does own a scooter but still does not have the proper driving and safety knowledge a scooter rider should have. Even though he already has been riding a scooter for about a year or two, he said that he would like the opportunity to take a class to learn more about riding a scooter and doing it more safely. He stated that this course is not only important for new scooter riders but also for older riders. This belief because he knew someone that just started riding a scooter recently and didn’t have the proper knowledge and that person broke his leg. He said that the event has solidified his stance of requiring this service.

• Person #3: A 22-year-old Male

This individual owns a scooter and he took the motorcycle driving and safety course because his parents made him so then he could purchase a scooter. He still believes that this need is important and would like the service of the scooter courses to be offered to someone purchasing or riding a scooter. He believes that because of the information from the motorcycle course almost goes hand-to-hand with some connections between the driving knowledge. He believes that everyone should take this course to make sure not only that person is safe on the roadway, but other drivers are too. 

• Person #4: A 20-year-old Male

This individual owns and has been riding his scooter for over two years and he does not like the idea of this course being offered. He stated that it would be a “waste of time and money” and that riding a scooter is not all that hard. He thinks that his driving is good and that he won’t get hurt from not knowing how to ride properly and safely.

• Person #5: A 23-year-old Female

This individual owns a scooter but never took a scooter driving and safety course. She would love the service like this to be offered because of her personal experience and wouldn’t want anyone else to go through it. She states that she just started riding one her first year in college, however, she did get into an accident in her third year due to the lack of rider knowledge. Also, she would recommend taking this course to anyone riding a scooter if they never took a driver/safety course for a two-wheel mode of transportation.

Summary of Interviews-  

After going through all the interviews with the five different people, I found that a decent number of people from the audience that I am targeting are interested in the service. I learned about my opportunity that I did not know already is that most of those people that are interested are the newer scooter riders. A smaller population of current scooter riders would be interested in the service because someone they know got hurt riding them. Now they want to gain the proper knowledge for riding so the same thing would not happen to them. Furthermore, not stated in the interviews, people that complete the course gain a better understanding of the scooter and how to ride safely. The completion of the course will also give them an appreciation of others and propel the people to the point where they might want to ride motorcycles which would bring more business to the market. Overall, I learned there was a lot of buzz about the service and will help students and people be safer on the road.

Assignment 6A: Identifying Opportunities in Economic & Regulatory Trends

Economic Trends Opportunities

1.   Aerospace and defense

a.    https://www.vistage.com/research-center/business-financials/economic-trends/20191209-economic-trends-impacting-business-in-2020-and-beyond/

b.    An opportunity might exist with Aerospace and defense because the global defense spending budget will increase by 3% in 2020. This increase in spending by the government would open some space for companies and entrepreneurs to help the national defense sector involving jets and other aircraft. National defense is pertinent to maintaining our way of life, so this opportunity is big to keep up our national dominance.

c.    I think that the most likely customers with this opportunity would be the department of defense organizations, homeland security, private domestic investors, foreign investors, travel organizations, and a variety of space programs.

d.    I believe that this opportunity would be moderately difficult to exploit because defense companies and avionic companies are backlogged with products. However, this opportunity can still be taken advantage of by the right people to help our country advance and protect ourselves.

Why did you see the opportunity: I formed the belief that this opportunity exists because of my experiences and work history. Being a part of the military family, I know that aerospace and defense is important to everyone in the U.S. being able to live the life they want to. Additionally, my emotions towards my country are strong and I love my life with all the freedoms it comes with. I wouldn’t want to jeopardize that, so this opportunity is important to our country.

2.   Oil and Gas Prices

a.    https://www.thebalance.com/us-economic-outlook-3305669#climate-change

b.    This information suggests that an opportunity may exist because the U.S. Energy Information Administration (EIA) suggests that oil prices through 2050 will be rising. With rising prices for oil that will help other sectors thrive, companies or people can come up with new ideas that will replace oil. These new ideas will be more listened to help companies cut down on costs. Companies and individuals will change behaviors to help the economy and planet out.

c.    The most likely customers are transportation industries, people involved in renewable resources, anyone that owns a vehicle that consumes oil/gas, engineers, researchers, and car dealerships.

d.    This opportunity is relatively harder than others to exploit because you need to have specialized knowledge of this subject to take advantage of the opportunity. With this occurring more scientists, engineers and researchers could be useful for the entrepreneurs and companies to combat the higher prices.

Why did you see the opportunity: I formed a belief that an opportunity existed because I have an attitude that we all have an obligation towards the existence of future generations. If the world’s oil and gas prices are high, then that means those non-renewable resources are almost used up. We should conserve the rest for future generations and care more about the world to ensure it is in a great place for our kids and grandkids.

Regulatory Changes Opportunities

1.   Healthcare

a.    https://www.pwc.com/us/en/library/risk-regulatory/strategic-policy/top-policy-trends/healthcare.html

b.    This opportunity may exist based on the information which stated that driving down the costs of care for consumers will be waged in policies in 2020. This suggests that companies that can offer healthcare at cheaper prices by cutting costs legally will be able to make more money than others. Also, a big portion (62%) of business respondents said healthcare is one of the top 3 policies important to their business.

c.    The most likely customers will be all Americans that have healthcare in any way, anyone that buys prescription drugs, health industries, employers that offer healthcare, pharmaceutical companies, and medical device companies.

d.    I would think that it would be somewhat difficult to exploit this opportunity because the companies that offer healthcare would have to cut costs legally somewhere. Additionally, you would have to be specializing in the healthcare field to have to know specific knowledge of materials. Also, they would have to get clearance from the Food and drug administration so the companies can distribute the products.

Why did you see the opportunity: I formed a belief that an opportunity exists because I have a desire that everyone should have affordable healthcare and can afford products that can maintain your well-being. Also, I believe that everyone should have a chance to be healthy and with affordable healthcare and drugs that are possible.

2.   Trade Policy

a.    https://www.pwc.com/us/en/library/risk-regulatory/strategic-policy/top-policy-trends/trade.html

b.    There is an opportunity that exists in our trade policy because there are two shifts in 2020. The shifts are shifting supply chain strategies and the rising discipline to gather data about cross border activities. These two shifts offer an opportunity that can help make markets easier to trade in for companies and help companies diversify their trade portfolio. This opportunity will help companies cut down on certain costs too.

c.    The most likely customers are data analysis companies, countries all over the world, large multinational companies, technology companies, investors and anyone in the stock market since companies will be more profitable.

d.    The opportunity is relatively easy to exploit because companies and governments can start to trust trade partners. They will be able to cut the cost of goods and find their trade preferences easier with data analysis. Trade and investment will be easier to negotiate, and companies will be able to drop some rates like corporate taxes.

Why did you see the opportunity:  I have a belief that an opportunity exists because of previous experiences in the other classes that I have taken in college. For example, in both my economics classes, I learned that trade policies are super important to the domestic and global economy. Also, a desire for better relations with our partners that we currently have will help stimulate both countries' economies and make us both better off in the long run.