Identifying Opportunities in Economic & Regulatory Trends

1. Economic: Increasing minimum wage. I first came across this need over this past summer. My little brother got a job at home depot and was paid minimum wage, while being expected to do very rigorous hands on tasks. The many possible injuries that can occur at his job is what led me to believe that an opportunity for changes exists in the minimum wage field. The prototypical customer would directly be the employees, however the company who is employing would be the most affected. The opportunity is differing from company to company depending on the overall funds they can allocate to its employees. Overall I believe this opportunity is seen and felt by many across the country. However, this past summer I witnessed the problem first hand and was able to dig deeper into how many people are directly affected by minimum wage. It led me to further think about the struggling families who are fully dependent on the little pay that comes from their jobs. I also believe that higher minimum wage would allow people to then spend more money and in turn stimulate the economy more, so event though one company would have to pay more to employ their staff, they would be enabling more economic activities. 

2. Economic: Decreasing shipping costs. I found this issue over this past summer as I was ordering from various online stores more frequently than normal. I definitely believe this information suggests an opportunity exists, so many people pay shipping and sometimes the shipping turns out to be even more expensive than the actual item. I do understand the need for shipping costs, however in some cases I feel like the customer is over charged on items. The prototypical customer would be any person who shops online or even orders in person at a store that does not cover shopping costs. The opportunity could be difficult to exploit because it involves two industries, both the retail and postal service industries. Overall I have always seen this issue and found myself at times choosing not to order an item due to the shipping bringing the price above my budget. It became even more apparent when amazon began their amazon prime and student discount program. I believe Amazon has been able to cover such a wide market due to the fact that they are tailoring their shipping procedures. Amazon essentially solidified the idea in my head that shipping costs can be a driving factor to losing a customer base. 

3. Regulatory: Speeding tickets. I found this source through my roommate and her past month's driving experience. I believe there is an opportunity with this issue because there are so many bigger issues in today's society that should have a greater focus from police force. The prototypical driver is anyone of the driving age across the country. This issue would be relatively easy to exploit and would be accepted with open arms by most customers, as they find themselves with speeding tickets for extremely minor circumstances. I saw this issue as my roommate was telling me about a parking ticket she received by driving 8 miles over the speed limit. Since receiving the ticket she's had to deal with an online driving safety course, as well as countless hours on the phone dealing with the police department as well as the DMV. Granted driving safety is extremely important I don't feel that a first time violation to something as small as 8 miles over the speed limit should be dragged on this long when there are brutal crimes happening across the country. My roommates struggles made it clear to me that there is a definite need for change in this field. 

4. Regulatory: Drinking age. I found this issue while in college. I believe this issue has opportunity for change as it can put many students under the legal drinking age in very serious legal issues affecting the rest of their life. The prototypical customer is really anyone in the prime age before the age of 21. The issue is relatively controversial which I feel will make the overall opportunity harder to exploit. Overall over my past two years in college I have seen so many students receiving MIP's while out and illegally drinking, as well as felonies for the use of fake ids. While I understand the severity of drinking under the age, I do not understand how someone can be an "adult" at 18, yet still have a restriction until 21. I believe either the legal age should be raised to 21 or the drinking age should be lowered to 18. The main reason I thought of this opportunity is because of the hypocritical term adult being used to describe those above the age of 18.