Assignment 6A- Identifying Opportunities in Economic & Regulatory Trends

Economic trends

Opportunity 1: Tax season kicks off with IRS short on staff
Link: https://www.washingtonexaminer.com/news/tax-season-kicks-off-with-irs-short-on-staff

I found this opportunity in the Washington Examiner. This article analyzes staff shortages within the IRS, which occurred primarily due to poor morale. The article also addressed how this problem becomes more paramount when taxpayers submit amended returns because it would cause delays in their operations. I believe U.S. taxpayers are experiencing this problem because they are currently filing their taxes. Therefore, I think this opportunity is easy to exploit because the 2020 tax season began last Monday, and the most significant concern raised during this time is how quickly taxpayers will obtain their refunds.

I noticed this opportunity after watching a news segment this morning on the Today Show about tax season and how to properly file your taxes.

Opportunity 2: "5 things millennials are paying for that their parents never would have dreamed of spending money on"
Link: https://www.businessinsider.com/millennials-spending-habits-compared-to-baby-boomers-2020-1


I found this opportunity in Business Insider. This article explains the common spending habits of Millennials, which are significantly different from other generations. For example, Millennials are more likely to attend therapy due to an increased risk factor of developing depression in their 20s and 30s. Millennials are individuals ranging from 23 to 37 years old. Based on this information, I believe this is the segment of people experiencing this problem. I think this opportunity is easy to exploit because Millennials utilize a variety of shopping methods as they make purchases. These include the typical in-store retail experience, online orders, and social media (where consumers see ads for products based on their browsing habits, or they can even place online orders through their favorite brand's Instagram page!)

I noticed this opportunity because I am a public relations student. In many of my classes, I studied the different generations and how they relate to each other. For example, one of the courses I am taking this semester is a special study course on Employee Communication, and we recently explored the difference between Millennials and Generation Z.

Regulatory trends

Opportunity 1: UF Health monitors rumors of coronavirus spreading to Gainesville
Link: https://www.alligator.org/news/uf-health-monitors-rumors-of-coronavirus-spreading-to-gainesville/article_69a9b1a0-426c-11ea-86b2-87354e5a2a4e.html

I found this opportunity in The Independent Florida Alligator. The article reports that UF Health is currently monitoring a rumor spread by two master's students that a student's parent traveled from China to Gainesville. To date, there are no confirmed cases of the coronavirus in Alachua County. The article also cited that Steve Orlando, UF Spokesman, said four people traveled from China to Gainesville, but they did not travel from Wuhan. I believe this problem is experienced on a worldwide scale because coronavirus is a global health emergency. First, this problem primarily affects people in Wuhan because that is the area where the coronavirus outbreak was first reported. But, this also affects people in the United States because of the possibility of people traveling to or from China.

I noticed this opportunity because the coronavirus is a topic heavily emphasized on the news.

Opportunity 2: St. Pete’s done it, could Tampa be next to ban some single-use plastics?
Link: https://www.wtsp.com/article/tech/science/environment/tampa-plastic-ban-st-petersburg-single-use/67-5505b7ff-8c97-4bb1-862d-7944799a6d9d

I found this opportunity in WTSP, which is the local news station for the Tampa Bay area. According to the article, there are 4 billion pieces of microplastics in Tampa Bay. As a result, the organization Rise Above Plastics is pushing for Tampa Bay to follow in St. Petersburg's path and ban single-use plastic products. I believe many people are experiencing this problem. Generally speaking, the people experiencing this problem are Tampa Bay residents. But, I think the problem branches out to local businesses and restaurants. I believe this opportunity is relatively difficult to exploit because the Tampa City Council is planning on reviewing a proposal in March. The implementation of banning single-use plastics in Tampa Bay could be expedited or delayed based on the City Council members' review of the proposal, evaluation of possible alternatives to single-use plastics, and discussion of how this would affect Tampa Bay residents and businesses.

I noticed this opportunity because Stuart is the first city in my local area, the Treasure Coast, to ban single-use plastic straws. My non-profit organization, Students4H2O, is also a stakeholder in their resolution as the Youth Educational Outlet to educate students in Martin County, Florida, about how they can work together to protect marine life by taking simple steps to end plastic litter.