Assignment 6A - Identifying Opportunities in Economic & Regulatory Trends

1.     Economic trend – Climate Change Is Causing More Natural Disasters

a.     Link: https://www.thebalance.com/top-usa-future-economic-trends-3305666

b.     Opportunity: I believe an opportunity exists here because this is a growing concern. In fact, it has been a concern for some time. This

c.     Protypical customer: Households and businesses  

d.     Opportunity easy/difficult to exploit: This opportunity is easy to exploit because there is still more we can all do to help in this fight. I know over the years as we have become more aware of the negative effects of global warming there have been a lot of positive changes in our world. However, even with that we are still seeing increasing environmental concerns. Such as, rising sea levels and increasing wildfires.

e.     Why: In my opportunity belief assignment, I felt there was an unmet need for more options for those living in apartment complexes and business to have access to recycling. Recycling is an important weapon to fight climate change and global warming. Recycling reduces deforestation, saves energy, and minimizes greenhouse gas emissions from landfills.

2.     Economic trend– Coronavirus Outbreak Test World’s Dependence on China

a.     Link: https://www.nytimes.com/2020/01/29/business/china-coronavirus-economy.html

b.    Opportunity: I believe an opportunity exists here, because everyone is worried about the Coronavirus. It has spread so quickly that its impact is very concerning. Something needs to be done.

c.     Protypical customer: Pharmaceutical companies

d.     Opportunity easy/difficult to exploit: The opportunity here to exploit would be quickly finding a vaccine or treatment to stop the continued rapid spreading of this.

e.     Why: The outbreak of the coronavirus has affected our economy very quickly. It is a major concern in our world right now and a solution needs to be found.

3.     Regulatory Change – Opportunity to include LGBT individuals in the Civil Rights Act of 1964

a.     Link: https://www.govtrack.us/congress/bills/116/hr5/summary

b.    Opportunity: I believe an opportunity exists here. According to the text on “govtrack.us,” 28 states still allow discrimination based on sexual orientation or gender identity on the state level.”

c.     Protypical customer: LGBTQ community

d.     Opportunity easy/difficult to exploit: I believe this will be relatively easy to exploit because clear legal protections for the LGBTQ community are still lacking.

e.     Why: We all need to be understanding and accepting of one another. No one person should be discriminated for being who they are.

4.     Regulatory Change – Vaccination Requirement for Children

a.     Link: https://www.govtrack.us/congress/bills/116/hr2527/summary

b.     Opportunity:  I believe an opportunity exists here. The bill was introduced to the House on May 3. However, it has not been passed yet. Vaccinations aid in the prevention of diseases spreading. Right now, especially with the Coronavirus outbreak, a lot of individuals are concerned about disease prevention.

c.     Protypical customer: Pharmaceutical companies

d.     Opportunity easy/difficult to exploit: The one problem I see with this is parents having an issue with not having the option as to whether or not they want to vaccinate their children. A lot of parents have chosen not to already for religious reasons or concerns that vaccines may be unsafe,

e.     Why: I saw this opportunity because there have been so many outbreaks in recent years of diseases that could have easily been prevented by vaccines.

Assignment 4A - Forming an Opportunity Belief

I believe there is an unmet need when comes to recycling. Especially, in apartment complexes and in commercial areas, such as a mall. A lot of apartment complexes have valet trash services, but do not offer a valet recycling service. Not to mention, a lot of complexes don’t even have an onsite receptible for recycling. Although, not a new idea, I do believe that there is still a need for more services like this. According to the Florida Department of Environmental Protection, a statewide weight-based recycling goal of 75% was set by 2020. Since not meeting the interim goals established for Florida in 2016 of 60%, the recycling rate has continued to decline. In fact, the recycling rate for Florida was 49% in 2018 (www.floridadep.gov). Recycling benefits the environment by conserving energy, reduces waste and pollution, conserves natural resources, and saves landfill space. I am very confident that an opportunity exists (80%) here and that more can be done.

#1: Late 20’s College Student/Employed and in the process of moving in with girlfriend (apartment)

• How often do you recycle?

• “I live with my Mom currently. Where I live it’s mandatory.” Where do you live? “Windemere.” Okay. “We recycle once a week.”

• How are you recycling?

• “We have two trash cans. One is blue for recycling and the other is for trash. The recycle container labels what to put in it and what to not. Those who violate that are fined after being warned.”

• If you didn’t have the ease of accessibility to recycle, would you?

• “Maybe, but definitely not as often.”

• If your apartment complex offered a valet trash service, would you be more willing to recycle?

• “Yes, because it would make it easier if I didn’t already have the option to.”

• Are you aware of the negative effects on the environment of not recycling”?

• “Yeah, not doing so harms wildlife and adds to more waste.”

• Are you aware of the positive impacts of recycling and how it can be reused?

• "Of course." Can you give me an example? "Yes, they make products from recycled material for third world countries."

• Would you be willing to pay a small monthly fee for a valet recycling service for the common good?

• “Yeah.”
• Would you be more opt to pay for a valet recycling service if there was an extra incentive (i.e. charity)?
• “Yes, 100%! Especially, if it’s going to charity.”

REFLECTION:

This individual is living in an environment where recycling is part of their culture. He has recycling services available to him and they take advantage of it weekly. However, he stated that he wouldn’t recycle as often if he didn’t have the ease of accessibility as in his current situation. He could be a good candidate for this type of service because he is already accustomed to recycling and would continue to do so if it there was an easy option for him in an apartment setting. Plus, he wouldn’t mind paying a fee for this service because he knows it is for a good cause.

#2: Woman in her early 30’s that lives in an apartment.

• How often do you recycle?

• “Everyday.”

• How are you recycling?

• “My apartment does not offer it, but I do recycle. A lady at my work recycles everything because she has recycling services at her home. I bag my items to recycle and bring them to her to recycle.”

• If you didn’t have the ease of accessibility to recycle, would you?

• “Yes, because I don’t have that right now.”

• If your apartment complex offered a valet trash service, would you be more willing to recycle?

• “Yes.”

• Are you aware of the negative effects on the environment of not recycling”?

• “Absolutely!” Can you give me an example? “Yes, it leads to excel landfill waste and other environmental issues.”

• Are you aware of the positive impacts of recycling and how it can be reused?

• "Yes.” Can you give me an example? “Yeah, for product repackaging.”

• Would you be willing to pay a small monthly fee for a valet recycling service for the common good?

• “Yes, depending on the cost.”
• Would you be more opt to pay for a valet recycling service if there was an extra incentive (i.e. charity)?
• “Yes.”

REFLECTION: I felt that this individual is your prototypical customer. She is someone who lives in an apartment, doesn’t have an option to easily recycle at her apartment, and has the means to pay for a valet recycling service. Interestingly enough, she is still, at a slight inconvenience, recycling. To my surprise, she hesitated before responding about paying a small fee for a valet recycling service. Even though, this would make her current way of recycling much easier, However, she was definitely intrigued at the thought of having an incentive to pay.

#3: Woman in her mid-fifties that lives in an apartment complex.

• How often do you recycle?

• “Never”

• How are you recycling?

• “I’m not.”

• If you didn’t have the ease of accessibility to recycle, would you?

• “No, I would throw it in the garbage like I am doing currently.”

• If your apartment complex offered a valet trash service, would you be more willing to recycle?

• “Yes.”

• Are you aware of the negative effects on the environment of not recycling”?

• “Yes.” Can you give me an example? “Yes, excess waste, like plastic, ends up in our water and can harm wildlife.”

• Are you aware of the positive impacts of recycling and how it can be reused?

• “Yes.” Can you give me an example? “Yes, less pollution and we can reuse products.”

• Would you be willing to pay a small monthly fee for a valet recycling service for the common good?

• “Yes.”
• Would you be more opt to pay for a valet recycling service if there was an extra incentive (i.e. charity)?
• “Sure. Honestly, I would do it either way.”

REFLECTION: This individual would also be a good candidate for this type of service. She currently lives in an apartment and does not have a means to easily recycle but would like to.

SUMMARY:

After conducting my interviews, I definitely believe there is an unmet need and an opportunity for valet recycling services, or at least, more of. All of the interviewees shared similar feelings about recycling regardless of age or gender. All were aware, to a degree, of negative impacts of not recycling on the environment. As well as, positive impacts of recycling. Two of the three interviewees had a slight delay in response when asked if they would be willing to pay a fee to recycle. However, quickly responded which confidence that they would not mind paying a fee if there was an extra incentive. Therefore, having a program in place, such as donating to a recycling charity, to accompany this service is important.