In reality, I am not in the position to open a business at this point in my life due to many reasons. However, for the sake of this exercise I will imagine that I was realistically able to.
1. If I had opened a successful business, I would want to hold onto it for as long as I possibly could. I imagine owning a business to be possibly the biggest accomplishment in one's life. It has your name on it. You stand for it. I could not imagine letting go to something I built from the ground up, except in extreme circumstances. I would be proud to keep the business in the family, and would love to watch it grow and develop over time.
2. I selected this strategy mostly because of how I feel about accomplishment. I find motivation in reflecting on difficult times. Owning a business would drive me to be better every single day. And being able to share that with family down the road would bring me great joy. I would be able to quite literally leave my mark on the world, which is my ultimate goal in life.
3. I do believe that my outlook has influenced how I view opportunity. I would like to solve a problem indefinitely. I was never really 100% confident on my idea and I believe that if I seriously considered starting a business, it would take a long time to hammer down my idea. In terms of growth and resources, I would still use similar strategy to obtain both. The military has graciously provided me with experience and a huge network base that I could exploit. In the long run, I would love to own my own business if the right circumstances exist.
Friday, July 26, 2019
Assignment #27- Reading Reflection No 3
Thinking, Fast and Slow by Daniel Kahneman
1. The general theme of the book was explaining how we use different parts of our mind to accomplish everyday tasks. Kahneman breaks the mind into 2 different systems. System 1 is automatic and is the part that responds quickly to impulses. System 2 is more complex and is what we tap into to solve difficult problems. Together these systems dictate how we handle certain situation and make decisions.
2.This book greatly mirrors what we have learned throughout this class. Entrepreneurship is all about taking risks and critically thinking about decisions for success. If you take a step back to learn how exactly the mind works, you can better understand why we make choose to do certain things both in business and life. This book gave some great insight on personality and character as well. It was very eye opening and I will carry some of the tools along with me forever.
3. The exercise I would do is similar to the one I proposed before. I would have the class break into groups and complete several rounds of tasks. I would have everyone not only talk about their answers to brain busters, but explain how exactly they got to it. At the end, I would debrief the group on which tasks weighed in on different parts of the mind and why. This would allow the students to understand the different actions of the mind, and apply it outside of the classroom into their lives and potential businesses.
4. This book drew out exactly how I think and rationalize decisions. I was able to substitute myself for whichever character they were describing and that was the most surprising throughout the entire book. He gave questions and pretty much walked through what was already going on in my head. Books mean so much more when they are relatable. Kahneman did a really great job of applying these mindset concepts to any average person. I learned so much and I highly recommend this book!
I will leave y'all with my favorite quote from the book-
" Nothing in life is as important as you think it is, while you are thinking about it."
Assignment #26- Celebrating Failure
1. During this semester, I would say that I failed myself in terms of expectations for my other class, Principles of Marketing. I thought I had the perfect strategy of doing the homework assignments, taking my own notes, and taking the time to study before exams. Although I did not literally fail the exams, I did much worse than I had worked for. After the poor grade on the first exam, I invested even more time into the class and work load. I still cut the same exact grade on the second exam and it was very frustrating.
2. What I have learned among several other things is that I am still not a great test taker. It has been a long while since I have taken a proctored multiple choice exam but my ability has not changed. I also have not been practicing test taking skills along the way either. It is a weakness that I need to improve on in the future semesters. I do believe that it is partially a mental factor that I need to work on as well and have confidence.
3. I believe that failure says a lot about a person. If we imagine a "perfect" person, we would never understand how they handle adversity and how they work under pressure. Life happens and plans go sideways more times than not. It is not about failure itself , but how one recovers from it. Personally, I believe that strength comes from the mind and that it takes strength to overcome failure. Each failed opportunity provides building blocks to improve. If you look at failure in that manner, it isn't so scary. After taking this class, I would say that I have learned much about myself, compared to others viewpoints, and I might consider taking a risk if the rewards are substantial.
Friday, July 19, 2019
Assignment #25- What's Next?
Existing Market
1. In terms of my service, my next step would be contacting the Federal Aviation Administration to pitch my idea and see if it is possible within their regulations. I think that this is the most important step before I am able to move forward. I would also be researching laws and regulations to make myself more knowledgeable on the policies and procedures that already exist. I would do my best to mimic procedures that are already in place.
2. In my interviews, some interesting suggestions were brought up. The first was to establish a huge advertising base in order to get out there. This is important because customers could potentially lead the drive to this service. Additionally, I was advised to potentially pair with the military exclusively for my service. Within the military, certain flights are available to military members and their dependents. This would severely lessen my opportunity, but it could be a potential staring point.
3. In terms of growing in this existing market, what makes the most sense is to start in the military community and then grow from there. Moving military families and supplies are a priority. With my knowledge and network, I think that it would be more realistic to get my services implemented within the military community. I would also have much more support from outside forces, due to the inherent need.
New Market
1. My new market would be frequent flyers upon civilian airlines. This is a much broader and larger market.
2. This could expand the demand for commercial flights. By allowing pets on board, more people would be interested in traveling. It could re-design air travel as we know it today.
3. I spoke with commercial pilots and reserve military members who fly often for business. They were rather skeptical of the idea due to the extensive change in their normal routines. They suggested that not everyone has this need and frequent flyers might actually be bothered by this new concept. This could potentially drive customers away instead of increasing the numbers. It would be a huge adaptation to the current norms of flying.
4. I was surprised by the push back that I received. However, it does make sense and their concerns are very rational. I am thinking that instead of incorporating a cabin into existing airlines, I would have to create an entire airline specifically for traveling with pets. That is how I can avoid losing existing customers and accommodating everyone's needs. This new market is not as attractive as my existing market.
1. In terms of my service, my next step would be contacting the Federal Aviation Administration to pitch my idea and see if it is possible within their regulations. I think that this is the most important step before I am able to move forward. I would also be researching laws and regulations to make myself more knowledgeable on the policies and procedures that already exist. I would do my best to mimic procedures that are already in place.
2. In my interviews, some interesting suggestions were brought up. The first was to establish a huge advertising base in order to get out there. This is important because customers could potentially lead the drive to this service. Additionally, I was advised to potentially pair with the military exclusively for my service. Within the military, certain flights are available to military members and their dependents. This would severely lessen my opportunity, but it could be a potential staring point.
3. In terms of growing in this existing market, what makes the most sense is to start in the military community and then grow from there. Moving military families and supplies are a priority. With my knowledge and network, I think that it would be more realistic to get my services implemented within the military community. I would also have much more support from outside forces, due to the inherent need.
New Market
1. My new market would be frequent flyers upon civilian airlines. This is a much broader and larger market.
2. This could expand the demand for commercial flights. By allowing pets on board, more people would be interested in traveling. It could re-design air travel as we know it today.
3. I spoke with commercial pilots and reserve military members who fly often for business. They were rather skeptical of the idea due to the extensive change in their normal routines. They suggested that not everyone has this need and frequent flyers might actually be bothered by this new concept. This could potentially drive customers away instead of increasing the numbers. It would be a huge adaptation to the current norms of flying.
4. I was surprised by the push back that I received. However, it does make sense and their concerns are very rational. I am thinking that instead of incorporating a cabin into existing airlines, I would have to create an entire airline specifically for traveling with pets. That is how I can avoid losing existing customers and accommodating everyone's needs. This new market is not as attractive as my existing market.
Assignment #24- Venture Concept No.1 "Companion Cabin"
Opportunity.
Pet owners and military members alike share the need
to travel with their pets for work and/or travel. Convenience is the force in
the travel environment that creates this opportunity. This market spans across
the world, as service members are stationed both in the states and abroad.
Customers currently find alternative solutions, such as pet boarding, to satisfy
this need. There is room for their loyalty to shift elsewhere. This opportunity
can change commercial aviation. The window of opportunity is indefinite.
Innovation.
The innovative piece of my service would be creating
something that has never existed before. Instead of putting your beloved pet
below in the cargo section, they would travel right beside you. In order to
make money, I would charge a price that is reasonable and similar to what
airlines charge now to fly a pet. The experience would be attractive because owners
would not have to worry about their pets flying alone. I believe that they
would be willing to pay for ease of mind and convenience.
Venture
Concept. Right now, customers are
torn between leaving their pets behind while traveling, finding care for their pets,
or not traveling at all. I think that allowing pets to travel in the cabin of commercial
airlines will solve this problem and provide a huge convenience factor. I think
that this would be a very attractive alternative to finding other care for pets
while traveling. Competitors would be pet boarding services. I would create an
airline that specifically specializes in transporting pets along with their owners
comfortably. It would have the same structure of any given commercial airline.
The Three Minor Elements
1.
My most important resource
would be my network base. My career in naval aviation has provided me a great
foundation in the field. I know numerous pilots and managers who work for
airline companies. They can provide me
with information needed to get my foot in the door and support me along the
way.
2.
The next opportunity would be
getting my idea out there and well known. I do believe customers would chose my
service over alternatives, if it was available.
3.
In five years, I would hope
to be established and changing the aviation community. If I am still in the
military, this venture would be very difficult to maintain realistically.
Assignment #23- Your Venture's Unfair Advantage
1. Experience
V-most people learn by doing
R-not everyone has similar experiences
I- depends on what exactly the experience is
N-shapes each person individually
2. Network
V- networking can make or break a venture
R- large scale of people
I- it takes time to build up a network
N- other assets can actually be substituted
3. Financial Assets
V- makes venture possible
R- most people borrow money for start up
I- money can be obtained from other sources
N- can be substituted depending on type of financial asset (i.e. savings or mutual funds)
4. Knowledge
V- "knowledge is power"
R- not everyone has knowledge in business or the specific field they are pursuing
I- if the opportunity exits, knowledge can be researched and obtained
N- the ability to work with someone that posses knowledge exits
5. Social Skills
V- working well with people is crucial in business
R- these skills take time to master
I- they can be imitated
N- a strong staff could be substituted
6. Strong Segment
V- the segment must see the need for product
R- a product will not succeed in all segments
I- many segments have the potential to be strong
N- segments can be substituted
7. Managerial Skills
V- much of business involved managing people and assets alike
R- it takes time to master these skills
I- great managerial skills can be imitated across markets
N- staff can be hired to manage
8. Aviation Background
V- thorough understanding of the field
R- only a small portion of the population works in aviation
I- military background is rather unique
N- aviation careers are not as common as other jobs
9. Passion for Pets
V- provides motivation to succeed
R- very common so not rare
I- many people share
N- if passion is not there, people will not be interested
10. Time
V- time is very valuable because it allows progress
R- not every entrepreneur has enough time to devote
I- time is money
N- no substitutes exist
Reflection- I believe that my network base is my strongest resource. My career in naval aviation has provided me a network of pilots and big names of civilian aviation. It is a very unique resource to have and I think that it puts me ahead of competition. It is very rare and not imitable, therefore it makes me stand out.
V-most people learn by doing
R-not everyone has similar experiences
I- depends on what exactly the experience is
N-shapes each person individually
2. Network
V- networking can make or break a venture
R- large scale of people
I- it takes time to build up a network
N- other assets can actually be substituted
3. Financial Assets
V- makes venture possible
R- most people borrow money for start up
I- money can be obtained from other sources
N- can be substituted depending on type of financial asset (i.e. savings or mutual funds)
4. Knowledge
V- "knowledge is power"
R- not everyone has knowledge in business or the specific field they are pursuing
I- if the opportunity exits, knowledge can be researched and obtained
N- the ability to work with someone that posses knowledge exits
5. Social Skills
V- working well with people is crucial in business
R- these skills take time to master
I- they can be imitated
N- a strong staff could be substituted
6. Strong Segment
V- the segment must see the need for product
R- a product will not succeed in all segments
I- many segments have the potential to be strong
N- segments can be substituted
7. Managerial Skills
V- much of business involved managing people and assets alike
R- it takes time to master these skills
I- great managerial skills can be imitated across markets
N- staff can be hired to manage
8. Aviation Background
V- thorough understanding of the field
R- only a small portion of the population works in aviation
I- military background is rather unique
N- aviation careers are not as common as other jobs
9. Passion for Pets
V- provides motivation to succeed
R- very common so not rare
I- many people share
N- if passion is not there, people will not be interested
10. Time
V- time is very valuable because it allows progress
R- not every entrepreneur has enough time to devote
I- time is money
N- no substitutes exist
Reflection- I believe that my network base is my strongest resource. My career in naval aviation has provided me a network of pilots and big names of civilian aviation. It is a very unique resource to have and I think that it puts me ahead of competition. It is very rare and not imitable, therefore it makes me stand out.
Friday, July 12, 2019
Assignment #21- Reading Reflection No. 2
The book that I chose to read was Mindset by Carol S. Dweck.
1. The general theme of the book was how an individual's mindset affects all aspects of his or her life including relationships, school and business. Dr. Dweck suggests that 2 types of mindsets exists- fixed and growth. A person with a fixed mindset accepts things for what they are instead of questioning circumstances. A person with a growth mindset instead explores why things are the way they are and how to change circumstances.
2. This booked enhanced what we are learning in the class and exemplifies the exact type of mental strength it takes to be a successful entrepreneur. Specifically in the business chapter, the book gave examples of well known business people such as Steve Jobs and Bill Gates. Dr. Dweck dove deep into all the personal aspects of each persons life and pointed out specifically what make these people stand out from the others. In addition, she gave examples of exactly where other entrepreneurs had failed and why. Everything revolved around mindset and the willingness to grow or learn.
3. My exercise for a class would begin with breaking into small groups. Then, different situations would be presented and students would be asked to respond to 2 options. Each option would correspond to either the growth or fixed mindset. Students would then compare their responses and discuss their reasoning. In the book, Dr. Dweck would ask a series of questions after each chapter and allowed the reader to compare themselves to either mindset. This exercise would do the same, and make students aware of their mental mindset and how it affects them.
4. My biggest surprise when reading the book was what mindset I identified with. I considered all the events in my past, and pieced together why I ended up where I am in life today. In terms of mindset, I was definitely living with a fixed mindset while growing up and I believe that it directly has to do with the way my parents raised me. They always put undue stress on me in both school and sports. Now that I am older, I have learned how big of a setback living with a fixed mindset is. This book motivated me to strive for a growth mindset in all aspects of life. The book did not really differ from my expectations. After I read the description, I was immediately interested. It was a great read and a true upper. This book inspired me to be better all around and I learned alot.
1. The general theme of the book was how an individual's mindset affects all aspects of his or her life including relationships, school and business. Dr. Dweck suggests that 2 types of mindsets exists- fixed and growth. A person with a fixed mindset accepts things for what they are instead of questioning circumstances. A person with a growth mindset instead explores why things are the way they are and how to change circumstances.
2. This booked enhanced what we are learning in the class and exemplifies the exact type of mental strength it takes to be a successful entrepreneur. Specifically in the business chapter, the book gave examples of well known business people such as Steve Jobs and Bill Gates. Dr. Dweck dove deep into all the personal aspects of each persons life and pointed out specifically what make these people stand out from the others. In addition, she gave examples of exactly where other entrepreneurs had failed and why. Everything revolved around mindset and the willingness to grow or learn.
3. My exercise for a class would begin with breaking into small groups. Then, different situations would be presented and students would be asked to respond to 2 options. Each option would correspond to either the growth or fixed mindset. Students would then compare their responses and discuss their reasoning. In the book, Dr. Dweck would ask a series of questions after each chapter and allowed the reader to compare themselves to either mindset. This exercise would do the same, and make students aware of their mental mindset and how it affects them.
4. My biggest surprise when reading the book was what mindset I identified with. I considered all the events in my past, and pieced together why I ended up where I am in life today. In terms of mindset, I was definitely living with a fixed mindset while growing up and I believe that it directly has to do with the way my parents raised me. They always put undue stress on me in both school and sports. Now that I am older, I have learned how big of a setback living with a fixed mindset is. This book motivated me to strive for a growth mindset in all aspects of life. The book did not really differ from my expectations. After I read the description, I was immediately interested. It was a great read and a true upper. This book inspired me to be better all around and I learned alot.
Assignment #20- Growing Your Social Capital
1. The first person I interviewed was Commander Elder, who is both a pilot in the naval reserves and a pilot for Delta Airlines. I consider Mr. Elder to be a domain expert in aviation due to his complex background and career. I am lucky to work in a naval P-3 Orion Squadron, where I am able to talk to many people and use them as resources. I served with Mr. Elder on the same combat aircrew last deployment, so I was able to easily approach him and speak with him about my ideas. I pitched him my business idea of having a specified section of a commercial airline for pets to fly aboard, and he was very impressed and supportive. However, he did say that the hardest obstacle would be getting the FAA to approve the rules and regulations. There really was not a return expectation in this encounter, except that I keep him updated on my class and my education. Adding Mr. Elder to my network will allow me to stay connected to the always changing aviation community- both military and civilian sectors. By having this connection, I can easily exploit opportunities that may become available.
2. The second person I interviewed was one of the chiefs that I work for, Curtis Jackson. He is very involved in real estate, specifically in renting out numerous properties to military personnel and their families. Because he aims to target military families, I consider him to be an expert in the market regarding buying behaviors, etc. He is also a military member himself, so he was able to provide personal professional opinion as well. Chief Jackson is also very involved in the Six Sigma community and shares an interest in business. Again, I work with him so it was rather easy to have a conversation with him. He wanted me to keep him posted on my accomplishments in this class as a return expectation. Having him in my network enhances my ability to exploit an opportunity because he is very realistic and I value his opinion and suggestions to go for a goal.
3. The final person I interviewed was Commander Pritchard, who is both a Naval flight officer and an employee of Boeing. I consider him to be a an important supplier in the industry. Mr. Pritchard manages orders for most major civilian airlines that we are all familiar with. I specifically focused on pitching a new design to the interior of the aircraft with him. In doing so, I found out that the interior is rigged according to the preference of each individual airline, and it does not affect the structural orders that he receives. My conversation with him helped me put my idea into perspective. Nothing major would have to change in terms of the aircraft itself, and that helped me get a better grip on my opportunity.
Reflection-
I absolutely loved this exercise. It is very rewarding to get feedback from such heavy hitters in the industry. The people that I talked two also gave me the best of both worlds- civilian and military. It is sometime hard to get both perspectives. This exercise overall gave me some validation and I was also able to further pinpoint my biggest obstacles to overcome. After doing this exercise, I know what questions I need to ask in future events. This was different than other exercises in the past, because I took the time to fully explain my idea and lay all my worries out there. I was very honest and open, and in doing so, I received some very valuable feedback.
2. The second person I interviewed was one of the chiefs that I work for, Curtis Jackson. He is very involved in real estate, specifically in renting out numerous properties to military personnel and their families. Because he aims to target military families, I consider him to be an expert in the market regarding buying behaviors, etc. He is also a military member himself, so he was able to provide personal professional opinion as well. Chief Jackson is also very involved in the Six Sigma community and shares an interest in business. Again, I work with him so it was rather easy to have a conversation with him. He wanted me to keep him posted on my accomplishments in this class as a return expectation. Having him in my network enhances my ability to exploit an opportunity because he is very realistic and I value his opinion and suggestions to go for a goal.
3. The final person I interviewed was Commander Pritchard, who is both a Naval flight officer and an employee of Boeing. I consider him to be a an important supplier in the industry. Mr. Pritchard manages orders for most major civilian airlines that we are all familiar with. I specifically focused on pitching a new design to the interior of the aircraft with him. In doing so, I found out that the interior is rigged according to the preference of each individual airline, and it does not affect the structural orders that he receives. My conversation with him helped me put my idea into perspective. Nothing major would have to change in terms of the aircraft itself, and that helped me get a better grip on my opportunity.
Reflection-
I absolutely loved this exercise. It is very rewarding to get feedback from such heavy hitters in the industry. The people that I talked two also gave me the best of both worlds- civilian and military. It is sometime hard to get both perspectives. This exercise overall gave me some validation and I was also able to further pinpoint my biggest obstacles to overcome. After doing this exercise, I know what questions I need to ask in future events. This was different than other exercises in the past, because I took the time to fully explain my idea and lay all my worries out there. I was very honest and open, and in doing so, I received some very valuable feedback.
Thursday, July 4, 2019
Assignment #19- Idea Napkin No. 2
1. I am currently serving in the United States Navy as an aircrewman. Flying has become a big part of my life, and I have an aspiration to share that with experience with others. In addition, I have great social skills and a genuine desire to positively impact others. I enjoy working with people and I believe that I can use these skills often throughout my business.
2. I am offering customers an opportunity to travel with their pets on commercial airlines. It is often very stressful to put pets in the cargo section or find other arrangements and leave them behind altogether. My business would offer a convenient solution to this problem.
3. I am offering my service to pet owners who travel often. My customers would all dislike leaving their pets behind in their travels. They would all be looking for a convenient option to solve their problem.
4. My customers care because they are both dedicated to their pets and travel. Often times, people are required to travel for work. Leaving their pets and families behind can be very stressful. Customers who travel often would love to accommodate everyone that is important to them.
5. One of my core competencies would be excellent customer service. I would be able to provide this using a combination of my military background and social skills. My passion for aviation would set me apart from others. Also, the convenience of my service would make it very attractive to the market.
I do believe these elements all fit together. The overall experience of traveling depends on convenience and customer service. Just about everyone who has traveled on an airline has had a horrible experience, and they can tell you every detail about the story. The goal of good customer service and positive feedback is to have people remember and talk about how great their experience was. By defining these goals and who would use the service, it sets a high expectation of customer service.
I incorporated the following items from my last Idea Napkin-
1. Improving core competency. After receiving feedback, I decided to change my core competency to customer service. I do believe that this is the biggest factor that would affect the success of my business.
2. What makes me capable of delivering this service. In my previous post, I did not effectively communicate the experiences in my life that makes me capable of supporting this business. In this post, I mentioned my extensive career in aviation which could potentially set me apart from others. In addition, I mentioned my dedication to customer service. I think that the feedback I received allowed me to improve my post.
2. I am offering customers an opportunity to travel with their pets on commercial airlines. It is often very stressful to put pets in the cargo section or find other arrangements and leave them behind altogether. My business would offer a convenient solution to this problem.
3. I am offering my service to pet owners who travel often. My customers would all dislike leaving their pets behind in their travels. They would all be looking for a convenient option to solve their problem.
4. My customers care because they are both dedicated to their pets and travel. Often times, people are required to travel for work. Leaving their pets and families behind can be very stressful. Customers who travel often would love to accommodate everyone that is important to them.
5. One of my core competencies would be excellent customer service. I would be able to provide this using a combination of my military background and social skills. My passion for aviation would set me apart from others. Also, the convenience of my service would make it very attractive to the market.
I do believe these elements all fit together. The overall experience of traveling depends on convenience and customer service. Just about everyone who has traveled on an airline has had a horrible experience, and they can tell you every detail about the story. The goal of good customer service and positive feedback is to have people remember and talk about how great their experience was. By defining these goals and who would use the service, it sets a high expectation of customer service.
I incorporated the following items from my last Idea Napkin-
1. Improving core competency. After receiving feedback, I decided to change my core competency to customer service. I do believe that this is the biggest factor that would affect the success of my business.
2. What makes me capable of delivering this service. In my previous post, I did not effectively communicate the experiences in my life that makes me capable of supporting this business. In this post, I mentioned my extensive career in aviation which could potentially set me apart from others. In addition, I mentioned my dedication to customer service. I think that the feedback I received allowed me to improve my post.
Assignment #18- Customer Advatar
I, too, travel often for work. I enjoy spending time with family and friends. My dogs are also very important to me. I think that I designed this customer because it is a typical person that I usually see when traveling. Being in the military, I am surrounded by friends with family. Although I do not have a family of my own, I see how stressful it is to be away from them. That is why I can imagine how my customer's life is like at home. I think the common traits that I have with my customer is not a coincidence. I needed to have some key points in common in order to make my customer realistic with similar needs.
Friday, June 28, 2019
Assignment #16- Whats Your Secret Sauce?
My unique human capital-
1.Making the best out of bad situations. Due to a very emotionally challenging past, I try my best to always see the bright side of things. I do believe that everything happens for a reason, although it might be difficult to believe at first. I encourage others to see the light at the end of the tunnel.
2. My door is always open. Being in the military, I have some experiences that not everyone has shared. Whether we are here at home in Jacksonville or deployed overseas, the military can get lonely. I make myself available to not only listen to others but give the best advice I possibly can in ever situation.
3. Problem Solver. I have a very observant but extrovert personality. If a problem arises, I use the skills I have developed over my lifetime to assist people in solving problems. This goes for any personal matter or work matter alike. I enjoy collaborating with others to come up with a solution.
4. Motivator. I feel that in life, everyone deserves a cheerleader. I feel that thanking someone for a favor or telling them great job on a project really goes a long way. I think that this comes from how encouraging comments personally make me feel. I do believe that positive statements make a big difference in people's daily lives and we don't hear it enough.
5. Willing to help. I've been in a few tough situations in which I had to reach out to another person for help. I always lend a hand where I can and offer to help when available. Everyone can use a good friend!
Interviews-
I believe that the people who know me best are my friends and family from back home in New Jersey. Unfortunately, since I did not have means to record a phone call, I used my best judgment to get the best possible feedback. Instead, I interviewed my co-workers since they are the people I spend the most time with. In the military, we truly are a family. Due to work obligations, I had each person write their responses down and then followed up for clarification or explanations. I have provided their responses below.
Conclusion-
The way that I perceive myself and the way others perceive me are surprisingly pretty similar. Most of the feedback that I received from the interviews emphasize my strong leadership skills. As mentioned before, I do try to be there for people and lend a hand. I was happy to hear that my co-workers view that a a leadership role. In addition, my work habits and organizational skills were mentioned. I do pride myself on time management, but I did that on a personal others so its interesting that others pick up on that skill as well. Overall, I was really happy with the feedback I received. I am confident knowing that my co-workers see the best in me and that I have had somewhat of an impact on them. I loved this exercise!
1.Making the best out of bad situations. Due to a very emotionally challenging past, I try my best to always see the bright side of things. I do believe that everything happens for a reason, although it might be difficult to believe at first. I encourage others to see the light at the end of the tunnel.
2. My door is always open. Being in the military, I have some experiences that not everyone has shared. Whether we are here at home in Jacksonville or deployed overseas, the military can get lonely. I make myself available to not only listen to others but give the best advice I possibly can in ever situation.
3. Problem Solver. I have a very observant but extrovert personality. If a problem arises, I use the skills I have developed over my lifetime to assist people in solving problems. This goes for any personal matter or work matter alike. I enjoy collaborating with others to come up with a solution.
4. Motivator. I feel that in life, everyone deserves a cheerleader. I feel that thanking someone for a favor or telling them great job on a project really goes a long way. I think that this comes from how encouraging comments personally make me feel. I do believe that positive statements make a big difference in people's daily lives and we don't hear it enough.
5. Willing to help. I've been in a few tough situations in which I had to reach out to another person for help. I always lend a hand where I can and offer to help when available. Everyone can use a good friend!
Interviews-
I believe that the people who know me best are my friends and family from back home in New Jersey. Unfortunately, since I did not have means to record a phone call, I used my best judgment to get the best possible feedback. Instead, I interviewed my co-workers since they are the people I spend the most time with. In the military, we truly are a family. Due to work obligations, I had each person write their responses down and then followed up for clarification or explanations. I have provided their responses below.
Conclusion-
The way that I perceive myself and the way others perceive me are surprisingly pretty similar. Most of the feedback that I received from the interviews emphasize my strong leadership skills. As mentioned before, I do try to be there for people and lend a hand. I was happy to hear that my co-workers view that a a leadership role. In addition, my work habits and organizational skills were mentioned. I do pride myself on time management, but I did that on a personal others so its interesting that others pick up on that skill as well. Overall, I was really happy with the feedback I received. I am confident knowing that my co-workers see the best in me and that I have had somewhat of an impact on them. I loved this exercise!
Tuesday, June 25, 2019
Assignment #15- Figuring Out Buyer Behavior No. 2
Alternatives-
During my interviews, I offered the following alternatives to flying with pets.
a. Don't travel at all.
b. Choose alternative means of travel.
c. Make other arrangements for pets.
I found that the most important factor in the military segment was convenience. Sometimes people are forced to travel with very short notice, so it is a hassle trying to make alternative arrangements. Price was not really a big deal when discussing alternatives, as passengers can already pay a fee to fly their pet along with them in the cabin. It was more the conditions in which the pet would travel. All of my interviewees agreed that it would be the least hassle to be able to fly with a pet comfortably.
How/Where to Buy-
The segment would most likely buy online, as most travel arrangements are made online these days. The airline would have to have notice of pets traveling also, so they could get a head count and cap the total number of pets to ensure everyone fit comfortably in the plane. Everyone that I interviewed said that they usually put airline tickets on a card of some sort, as the purchase is made online. Some people also had a specific credit card that they used for travel, since the card had good benefits. Others simply used their debit card instead, which is basically cash.
Post-Purchase Evaluation-
What matters most to the potential customers is the overall travel experience. They already had airline preferences for many reasons including travel miles and reliability. If the plane was on time and there were no issues, my interviews all agreed that that is what influenced them in choosing an airline for their next trip. They would consider their decision a bad idea if their flights were delayed or they had bad customer service. I personally also have preferences due to these factors that hugely impact traveling in general.
Summary-
I interviewed 3 more co-workers with pets. I asked a similar series of questions and asked them to describe the steps of planning a trip. From there I asked if they would consider the alternatives listed above, and why or why not. I described how I would offer my service in terms of payment and terms. I then asked how my idea could be the most convenient option over the other alternatives.
Conclusion-
In terms of the military segment, it is apparent that alternatives do exist and weigh heavy on customer's decisions. Because this issue already exists, people have arrangements that they feel comfortable using instead of flying with their pet. Ultimately, it would come down to the most convenient option. And of course, one bad experience on an airline with a pet would taint the entire post-purchase evaluation. However, a great travel experience would most likely make the customer return for services again. I find that military members are more willing to flex on plans simply because we travel so often. However, spouses and family might have a different evaluation process.
During my interviews, I offered the following alternatives to flying with pets.
a. Don't travel at all.
b. Choose alternative means of travel.
c. Make other arrangements for pets.
I found that the most important factor in the military segment was convenience. Sometimes people are forced to travel with very short notice, so it is a hassle trying to make alternative arrangements. Price was not really a big deal when discussing alternatives, as passengers can already pay a fee to fly their pet along with them in the cabin. It was more the conditions in which the pet would travel. All of my interviewees agreed that it would be the least hassle to be able to fly with a pet comfortably.
How/Where to Buy-
The segment would most likely buy online, as most travel arrangements are made online these days. The airline would have to have notice of pets traveling also, so they could get a head count and cap the total number of pets to ensure everyone fit comfortably in the plane. Everyone that I interviewed said that they usually put airline tickets on a card of some sort, as the purchase is made online. Some people also had a specific credit card that they used for travel, since the card had good benefits. Others simply used their debit card instead, which is basically cash.
Post-Purchase Evaluation-
What matters most to the potential customers is the overall travel experience. They already had airline preferences for many reasons including travel miles and reliability. If the plane was on time and there were no issues, my interviews all agreed that that is what influenced them in choosing an airline for their next trip. They would consider their decision a bad idea if their flights were delayed or they had bad customer service. I personally also have preferences due to these factors that hugely impact traveling in general.
Summary-
I interviewed 3 more co-workers with pets. I asked a similar series of questions and asked them to describe the steps of planning a trip. From there I asked if they would consider the alternatives listed above, and why or why not. I described how I would offer my service in terms of payment and terms. I then asked how my idea could be the most convenient option over the other alternatives.
Conclusion-
In terms of the military segment, it is apparent that alternatives do exist and weigh heavy on customer's decisions. Because this issue already exists, people have arrangements that they feel comfortable using instead of flying with their pet. Ultimately, it would come down to the most convenient option. And of course, one bad experience on an airline with a pet would taint the entire post-purchase evaluation. However, a great travel experience would most likely make the customer return for services again. I find that military members are more willing to flex on plans simply because we travel so often. However, spouses and family might have a different evaluation process.
Assignment #14- Halfway Reflection
2. I have definitely felt like giving up one particular time this semester. I had to work late every day and on top of that I had an issue with my air conditioner in my house. Everyone knows that Florida is hot and air conditioning is a must. It was a very stressful week and I just couldn't seem to catch a break. What pulled me through was remembering why I started going back to school in the first place. I have set a goal for myself, and I knew that if I gave up, I would feel even worse than that week did. The struggle was only temporary. I do feel like I developed a tenacious attitude during the past two months. I think the experience that has caused this is the feedback portion of this class. I am usually very shy when it comes to sharing my work, but I now find myself waiting too see people's responses. Being able to branch out has built my confidence in a way, and now makes me more tenacious.
3. a. Be confident. Don't fear how classmates are going to respond to your posts. Instead, use it as an opportunity to branch out. Chances are, you are not the only one with a great thought.
b. Plan ahead. Make sure you know what assignments are due at the end of each week so you can plan accordingly, Waiting until the last minute really takes away from the overall experience of the class.
c. Take the time to reflect on feedback. You can either rule out or solidify an idea based on feedback. Before you even publish your post, you are already talking to people and getting opinions. Your classmates can than construct your post even further. Its a two step process that works!
I decided to include one of my favorite quotes to conclude this reflection - Enjoy!
Friday, June 14, 2019
Assignment #13- Reading Reflection No. 1
Since I am very passionate about my job and aviation, I chose to read The Wright Brothers.
- The Wright brothers were both very smart, bright young men. What surprised me the most about both of them was that they never graduated high school. I feel in the time frame they were growing up, that was the norm. However they relied on their creativity and curiosity to solve many of their problems. What I admire most about them is their unrelenting perseverance to never give up, despite many trials and failures. What I least admired was how dangerous many of their trials actually were in the beginning. I do believe this aspect was perhaps overlooked, but in modern day they would have most likely received push back in several of their tests. Most of the Orville's trials did result in failure. They received much adversity, but they were able to motivate each other to keep trying to improve. Every time they tested their ideas, the plane flew just a little bit longer or a little bit higher. I believe this was the stamina that kept them going and ultimately lead to their success.
- The 2 greatest competencies that the brothers exhibited was persistence and commitment. It is very easy to get discourages when plans fail. However, they used each failed flight as an opportunity to figure out what was wrong in order to improve their design. They also took risk, although I do not believe it was really calculated. They knew that they would have to fly a potentially faulty design which came with great risk. However, they let their commitment take over in order to make their ideas worth it.
- It was very confusing to understand the brothers' perspective on the plans following their successes. It almost seemed like they did not want their great accomplishment to be preserved. There was much negotiation on donating the Wright Flyer to the Smithsonian. Personally, I would consider that such a great honor but the brothers did not. They did not want people getting the wrong impression of their invention, as several features had been altered from the original model. The brothers were very particular in how they wanted their legacy to live out.
- I would ask my questions to both Orville and Wilbur. They were very similar but also very different which I discovered throughout the book. The first question would be "What was the scariest moment you experienced while flying?" As an aviator myself, I have encountered several emergencies in flight. I am curious too see what kept them going and how the overcame their fear, if any. The second question I would ask them is, "Where did you originally envision your plane in 10 years?" It is hard to imagine a world without aviation. Commercial and military alike, we could not do what we do without it. I am curious to see if they ever saw their invention quite literally "taking off" the way it did.
- I don't believe I see hard work the way the brothers did. Their innovation was a hobby to them. They enjoyed working on it and were genuinely immersed in their work. There is no doubt that they put hard work into it, I just don't believe they viewed it as such. To me, hard work is not always fun and is often challenging. Hard work is rewarding nonetheless, but I think the brothers had a different perspective on it.
Assignment #12- Figuring Out Buyer Behavior
Since most of my travel revolves around the military, whether it be for work or leisure, I decided to see if fellow co-workers felt the same way about my potential business idea.
The Segment: military members
The Interviews:
#1-Navy reserve pilot, commercial airline pilot, pet owner
The Segment: military members
The Interviews:
#1-Navy reserve pilot, commercial airline pilot, pet owner
- It was evident that he definitely shared the same need that I did. Being a pilot, he has heard too many horror stories that of pets traveling in the cargo section of the aircraft. He said he would never put this dog through that high stress environment and would rather drive to his destination if his pet had to come along.
- In terms of information search, he did not do much because he knew the conditions of traveling with pets on an airline because of his work. However, he did mention looking into kennels to make arrangements or driving depending on the situation. In this particular case, there was not much of search but rather considering alternative solutions.
- She did not necessarily share the exact same need because she only traveled in the Florida area. Most of her family lives here so driving with the dogs was not a huge issue. However, she did say that she would consider traveling more is this opportunity existed.
- For information search, she did mention that she had looked into flying her animals on American Airlines once before, but was not comfortable with the idea of her dogs in the cargo section. That stopped her from ever looking for more information in the future.
- He was very enthusiastic about the idea. Being single, he has the flexibility to travel on his own terms. Much like myself, he never liked leaving his dog behind. He also mentioned that members changing duty stations would love this idea, especially if they were going overseas.
- Again, information search never really existed. Instead it was alternative options of where to board his dog. However, he believes that this would be a big item across the military and many people would be interested in using the service.
Assignment #11- Idea Napkin No. 1
- I am currently serving on active duty in the United States Navy. My time in the military has led me to the discovery of my interest interest in business. Although my job as an acoustic operator does not directly relate to my business aspirations, many skills that I use day and and day out strengthen my abilities. My biggest business aspiration would be to have a positive impact on people's lives. I would get much satisfaction on making life even just a little bit easier for others, and that is how it would impact my life as well.
- I am offering customers an opportunity to travel comfortably with their pets in the cabin of a commercial airline. I am also very passionate about animals, and I always struggle with leaving my fur babies behind. Potential customers would not have to go through the stress of leaving their pet behind.
- I am offering this service to people who travel often but also have pets. Despite the occasion for travel, I believe that customers should have the option to bring their pets along. Pet-friendly hotels and venues already exists, so arrangements outside of the airline are easy to prepare.
- Customers care because sometimes traveling can become a very stressful situation when pets are involved. If a customer chooses not to bring their pet along, then they have to find a means of boarding which could be very expensive. If flying is not an option, a person might be forced to drive long distances just to accommodate a pet.
- My core competencies derive from convenience and comfort. Right now, airlines do not offer passengers the option to fly with your pet inside the cabin, with the exception of service animals. Instead, passengers must make the choice to have their pet fly in the cargo section with luggage. There has been many accidents with pets traveling on airlines which already make people not want to take the risk.
Friday, June 7, 2019
Assignment #10- Elevator Pitch No. 1
Hey Everyone-
Here's my pitch. Enjoy!
* Here's the link in case the embedded video doesn't work!
https://youtu.be/jhvj48--VCw
Here's my pitch. Enjoy!
* Here's the link in case the embedded video doesn't work!
https://youtu.be/jhvj48--VCw
Assignment #9- Testing the Hypothesis Part 2
The Opportunity: A "pet friendly" section of the cabin on commercial airlines.
The Interviews:I conducted interviews with 5 people who had varying lifestyles. My reasoning behind choosing people to interview was to survey other reasons why people don't travel on airlines. For example, I interviewed one of my friends who is a single mother but also a pet owner. She chooses not to fly because her daughter is too young, and could not even imagine trying to take her dog along also. A co-worker of mine also brought up the fact that some people have a fear of flying, and would rather drive to their destination. His wife refuses to get onto an airplane, and that significantly limits their travel options. Two other people that I interviewed were very excited about the idea of flying with their pets. They believed that their dogs were well behaved enough to fly on a shorter flight. My final interview was also very interesting. This person had a fear of dogs, due to an incident that occurred when she was younger. She said she would not feel comfortable boarding an aircraft that had a pet friendly section, even if she wasn't near them in the cabin.
Who: People who do not care to fly or have a fear of flying fall outside my previously set boundaries. Also, single parents with young children or larger families would find alternative means of travel. The simply do not have the need, nor want, to consider flying. It would be very expensive for a large family to travel by air as well, even with a pet.
What: The need to travel with a pet differs when convenience or comfortability is out of the question. When traveling, everyone has their own preferences. Getting kennel care might be the easier option for pet owners.
Why: Not everyone has a need to travel. A person who would not consider flying with their pet most likely has more time and flexibility to get somewhere. The "outsiders" have a bigger stressor to deal with when traveling. Those inside the boundary most likely have to travel often and would much rather bring their pet with them instead of leaving them behind.
Inside Boundary Outside Boundary
The Interviews:I conducted interviews with 5 people who had varying lifestyles. My reasoning behind choosing people to interview was to survey other reasons why people don't travel on airlines. For example, I interviewed one of my friends who is a single mother but also a pet owner. She chooses not to fly because her daughter is too young, and could not even imagine trying to take her dog along also. A co-worker of mine also brought up the fact that some people have a fear of flying, and would rather drive to their destination. His wife refuses to get onto an airplane, and that significantly limits their travel options. Two other people that I interviewed were very excited about the idea of flying with their pets. They believed that their dogs were well behaved enough to fly on a shorter flight. My final interview was also very interesting. This person had a fear of dogs, due to an incident that occurred when she was younger. She said she would not feel comfortable boarding an aircraft that had a pet friendly section, even if she wasn't near them in the cabin.
Who: People who do not care to fly or have a fear of flying fall outside my previously set boundaries. Also, single parents with young children or larger families would find alternative means of travel. The simply do not have the need, nor want, to consider flying. It would be very expensive for a large family to travel by air as well, even with a pet.
What: The need to travel with a pet differs when convenience or comfortability is out of the question. When traveling, everyone has their own preferences. Getting kennel care might be the easier option for pet owners.
Why: Not everyone has a need to travel. A person who would not consider flying with their pet most likely has more time and flexibility to get somewhere. The "outsiders" have a bigger stressor to deal with when traveling. Those inside the boundary most likely have to travel often and would much rather bring their pet with them instead of leaving them behind.
Inside Boundary Outside Boundary
- Who ? frequent travelers, pet owners single parents, non-pet owners, non-flyers
- What? convenient, comfortable travel with pet cheaper, easier, less stressful travel
- Why? pet owners want to travel with pets other travel methods, not traveling at all
Thursday, June 6, 2019
Assignment #8- Solving the Problem
The problem- Many people consider traveling with pets very difficult and stressful. Sometimes, a pet owner might choose not to travel simply because they do not have arrangements for their pets. It is not easy to fly with pets, as the animals themselves are most often forced to travel in the cargo section of the aircraft, separated from the owner. This is why people choose not to travel or to travel by other means of transportation that is more accommodating to their pets.
The solution- My solution to this problem would be offering travelers the opportunity to fly with their pets comfortably in the cabin. At first, I considered proposing an airline that strictly carried passengers and their pets. But after my initial post about the problem, I found that this would be extremely difficult due to the already existent market and many of the FAA laws and regulations. Instead, I am proposing having a section of a given airline, much like first class, that would have bench like seats to accommodate both passengers and their pets. Of course, an airline would have to bite off on a contract and possibly re-rig several aircraft to make this accommodation. Also, owners would have to show proof that the animal is safe and healthy enough to fly. This additional section would not affect people seated in the regular cabin, and all passengers would be notified when booking that there would be pets on board the aircraft.
The service- I feel that my solution would be a service only and not really a product because airlines generally provide service to their customers. Customers would purchase a ticket at a slightly higher fare to allow them to sit in the designated pet area. The option would be presented much like first class tickets on any given airline. Passengers that buy economy seating would also be advised of the animals in the cabin and all conditions of the flight.
The solution- My solution to this problem would be offering travelers the opportunity to fly with their pets comfortably in the cabin. At first, I considered proposing an airline that strictly carried passengers and their pets. But after my initial post about the problem, I found that this would be extremely difficult due to the already existent market and many of the FAA laws and regulations. Instead, I am proposing having a section of a given airline, much like first class, that would have bench like seats to accommodate both passengers and their pets. Of course, an airline would have to bite off on a contract and possibly re-rig several aircraft to make this accommodation. Also, owners would have to show proof that the animal is safe and healthy enough to fly. This additional section would not affect people seated in the regular cabin, and all passengers would be notified when booking that there would be pets on board the aircraft.
The service- I feel that my solution would be a service only and not really a product because airlines generally provide service to their customers. Customers would purchase a ticket at a slightly higher fare to allow them to sit in the designated pet area. The option would be presented much like first class tickets on any given airline. Passengers that buy economy seating would also be advised of the animals in the cabin and all conditions of the flight.
Friday, May 31, 2019
Assignment #7- Testing the Hypothesis Part 1
1.The Opportunity: Improving post-service health care for veterans in the US.
2. Who? Veterans in the US
What? They are not receiving the health services that they need and deserve
Why? A ton of red tape exists for veterans to be treated and facilities are constantly fighting
outside issues such as funding cuts and staffing issues.
3. Many veterans suffer from the poor health services they receive after separating from the military. This has been an ongoing issue, and there has not been much improvement on the conditions. These people served our country and deserve to get the continued health care that they rightfully deserve. This has been a known issue among veterans in all parts of the country. The boundaries of the need include everything from primary care to specialty services. The problem exists among most veterans, usually those with the more complex issues. VA funding is always getting cut, which forces financial burden on the facilities. These burdens cause facilities to be short staffed and undermanned, causing customer service to be unpleasant. Also, this makes patients have to wait longer for their care or medications that they depend on. There is much room for improvement in the VA system as a whole.
4. After interviewing 5 veterans with different medical needs, I learned some things that have strengthened my view on the opportunity. In consideration for their personal lives, I am not going to include their specific medical conditions. However, one person that I interviewed who had the most severe medical condition, mentioned that he waited upwards of 2 months to see his specialty care doctor. My roommate, who depends on the VA for mostly primary care, shared her experience with something as simple as picking up medications. She arrived at the VA at 8 am, hopeful that she would be the first in line to get her prescription and get home. The front desk did not begin checking people in until around 9 am, due to the fact that they had to inventory everything before filling prescriptions. She then waited another hour to get her medication. It took 2 hours to get something that could have taken 10 minutes, had the VA facility been managed better. Small instances like that cause veterans to be unhappy with their care. Also, all 5 veterans that I interviewed mentioned the very poor customer service they have received, across 3 different VA facilities in the Northern Florida area. Examples of the poor customer service are rude receptionists and inconsiderate nurses. Another veteran mentioned a problem with the doctors that are hired at VA facilities. He had been misdiagnosed several times and tried many different medications and remedies, with no results on the actual issue. He also had several appointments cancelled on him by the doctor, after waiting weeks for a follow up. Many of these issues range from minor to severe but the overall discontent with Veterans Affairs was evident.
Conclusion: Veterans should not have to worry about the quality of health services that they receive after dedicating so much of their lives to the military. As an active duty service member, I do not have an issue with the services I receive. I believe that shouldn't change just because a member retires. Health care is arguably the most important factor in our lives as we age. The VA should not cut corners when people need their services the most.
2. Who? Veterans in the US
What? They are not receiving the health services that they need and deserve
Why? A ton of red tape exists for veterans to be treated and facilities are constantly fighting
outside issues such as funding cuts and staffing issues.
3. Many veterans suffer from the poor health services they receive after separating from the military. This has been an ongoing issue, and there has not been much improvement on the conditions. These people served our country and deserve to get the continued health care that they rightfully deserve. This has been a known issue among veterans in all parts of the country. The boundaries of the need include everything from primary care to specialty services. The problem exists among most veterans, usually those with the more complex issues. VA funding is always getting cut, which forces financial burden on the facilities. These burdens cause facilities to be short staffed and undermanned, causing customer service to be unpleasant. Also, this makes patients have to wait longer for their care or medications that they depend on. There is much room for improvement in the VA system as a whole.
4. After interviewing 5 veterans with different medical needs, I learned some things that have strengthened my view on the opportunity. In consideration for their personal lives, I am not going to include their specific medical conditions. However, one person that I interviewed who had the most severe medical condition, mentioned that he waited upwards of 2 months to see his specialty care doctor. My roommate, who depends on the VA for mostly primary care, shared her experience with something as simple as picking up medications. She arrived at the VA at 8 am, hopeful that she would be the first in line to get her prescription and get home. The front desk did not begin checking people in until around 9 am, due to the fact that they had to inventory everything before filling prescriptions. She then waited another hour to get her medication. It took 2 hours to get something that could have taken 10 minutes, had the VA facility been managed better. Small instances like that cause veterans to be unhappy with their care. Also, all 5 veterans that I interviewed mentioned the very poor customer service they have received, across 3 different VA facilities in the Northern Florida area. Examples of the poor customer service are rude receptionists and inconsiderate nurses. Another veteran mentioned a problem with the doctors that are hired at VA facilities. He had been misdiagnosed several times and tried many different medications and remedies, with no results on the actual issue. He also had several appointments cancelled on him by the doctor, after waiting weeks for a follow up. Many of these issues range from minor to severe but the overall discontent with Veterans Affairs was evident.
Conclusion: Veterans should not have to worry about the quality of health services that they receive after dedicating so much of their lives to the military. As an active duty service member, I do not have an issue with the services I receive. I believe that shouldn't change just because a member retires. Health care is arguably the most important factor in our lives as we age. The VA should not cut corners when people need their services the most.
Assignment #6- Identifying Opportunities in Economic and Regulatory Trends
#1 Economy- Uber's First Earning Report After I.P.O $1 Billion Loss
https://www.nytimes.com/2019/05/30/technology/uber-stock-earnings.html
What? Uber has always lead the way in the ride sharing market. Other companies, such as Lyft, have tried to compete but have not yet surpassed Uber's accomplishments. After suffering a $1 billion loss, I believe there is an opportunity to improve the ride sharing experience. This loss is most likely due to the strict regulation of ride sharing in busy areas or the overall experience of customers. The company could improve by having safer drivers and making the app more accessible. The prototypical customers would be young college students or people who travel often. I think the opportunity would be relatively difficult to exploit, due to laws and travel regulations.
Why? I believe that I see this opportunity because I am a frequent Uber user. However, I have had some unpleasant experiences and that is why I see room for improvement. I travel often, and have found that in busy places it is hard to find the uber "loading section" and your particular driver. In very rare occasions, I have also had questionable drivers which made me worry about my safety. People who don't use the app would not have any personal experiences to sway their opinion of the company, and therefore might not see an opportunity to improve the ride sharing experience.
#2 Economy- The Bond Market is Trying to Tell Us Something (Worry)
https://www.nytimes.com/2019/05/30/business/bond-yield-curve-recession.html
What? The US Bond market is at an all time low and many holders are beginning to worry. The long term returns are the lowest they have been since last recession. Economical factors such as inflation greatly affect the interest rates on bonds. I believe an opportunity exists for bond holders to cut their losses by cashing out their bonds and potentially investing in the stock market instead. However, history suggests that after a huge drop in interest rates comes a huge boom, so there is great risk involved.
Why? I believe that this opportunity exists because I regularly follow both the stock market and bond interest rates. I have money invested, and that greatly affects how I view this issue. Someone without investments might not see the loss that the economy could suffer and not care to follow the issue. When financial risk is involved, the issue becomes very prominent.
#3 Regulatory - As China takes aim, Silicon Valley Braces for pain
https://www.nytimes.com/2019/05/31/technology/china-trade-unreliable-entities.html
What? The trade war with China is about to take a major toll on technology in the US. The leading US technology companies look to China for a wide variety of outsourcing. By denying important technology to China, we have created very high tensions. Opportunity exists to outsource labor and products elsewhere, although it is going to be very challenging to compete with what China has offered in the past.
Why? I believe this opportunity exists because of all the political tension that had already existed, before the potential trade war. Being in the military, I stay informed on most of the world issues that the US suffers from. Many, many aspects of the US economy are going to suffer if this trade war lasts and that is why it is important to begin looking elsewhere for support. People without any knowledge of world trade might not see this issue and its potentially huge impact on our homeland.
#4 Regulatory- Home Buyers See Signs of Relief This Spring
https://www.nytimes.com/2019/05/31/your-money/home-buyers-see-signs-of-relief-this-spring.html
What? The housing market is starting to look up for both buyers and sellers. Home prices are continuing to increase, while interest rates are continuing to fall. There is much opportunity here to buy a new home due to the healthiness of the market. The prototypical customer would be a middle aged adult, possibly with a family. Several factors affect this opportunity such as the size of the home and location. However, now would be a great time to make such a rewarding investment.
Why? I believe this opportunity exists because I am a homeowner myself, and looking to invest in a secondary property. I follow the market intensely and have been waiting for a perfect time to take the leap. The younger population might not see this opportunity just yet, due to financial restrictions and the lack of a need for a home.
*Note- I used the New York Times as my source
https://www.nytimes.com/2019/05/30/technology/uber-stock-earnings.html
What? Uber has always lead the way in the ride sharing market. Other companies, such as Lyft, have tried to compete but have not yet surpassed Uber's accomplishments. After suffering a $1 billion loss, I believe there is an opportunity to improve the ride sharing experience. This loss is most likely due to the strict regulation of ride sharing in busy areas or the overall experience of customers. The company could improve by having safer drivers and making the app more accessible. The prototypical customers would be young college students or people who travel often. I think the opportunity would be relatively difficult to exploit, due to laws and travel regulations.
Why? I believe that I see this opportunity because I am a frequent Uber user. However, I have had some unpleasant experiences and that is why I see room for improvement. I travel often, and have found that in busy places it is hard to find the uber "loading section" and your particular driver. In very rare occasions, I have also had questionable drivers which made me worry about my safety. People who don't use the app would not have any personal experiences to sway their opinion of the company, and therefore might not see an opportunity to improve the ride sharing experience.
#2 Economy- The Bond Market is Trying to Tell Us Something (Worry)
https://www.nytimes.com/2019/05/30/business/bond-yield-curve-recession.html
What? The US Bond market is at an all time low and many holders are beginning to worry. The long term returns are the lowest they have been since last recession. Economical factors such as inflation greatly affect the interest rates on bonds. I believe an opportunity exists for bond holders to cut their losses by cashing out their bonds and potentially investing in the stock market instead. However, history suggests that after a huge drop in interest rates comes a huge boom, so there is great risk involved.
Why? I believe that this opportunity exists because I regularly follow both the stock market and bond interest rates. I have money invested, and that greatly affects how I view this issue. Someone without investments might not see the loss that the economy could suffer and not care to follow the issue. When financial risk is involved, the issue becomes very prominent.
#3 Regulatory - As China takes aim, Silicon Valley Braces for pain
https://www.nytimes.com/2019/05/31/technology/china-trade-unreliable-entities.html
What? The trade war with China is about to take a major toll on technology in the US. The leading US technology companies look to China for a wide variety of outsourcing. By denying important technology to China, we have created very high tensions. Opportunity exists to outsource labor and products elsewhere, although it is going to be very challenging to compete with what China has offered in the past.
Why? I believe this opportunity exists because of all the political tension that had already existed, before the potential trade war. Being in the military, I stay informed on most of the world issues that the US suffers from. Many, many aspects of the US economy are going to suffer if this trade war lasts and that is why it is important to begin looking elsewhere for support. People without any knowledge of world trade might not see this issue and its potentially huge impact on our homeland.
#4 Regulatory- Home Buyers See Signs of Relief This Spring
https://www.nytimes.com/2019/05/31/your-money/home-buyers-see-signs-of-relief-this-spring.html
What? The housing market is starting to look up for both buyers and sellers. Home prices are continuing to increase, while interest rates are continuing to fall. There is much opportunity here to buy a new home due to the healthiness of the market. The prototypical customer would be a middle aged adult, possibly with a family. Several factors affect this opportunity such as the size of the home and location. However, now would be a great time to make such a rewarding investment.
Why? I believe this opportunity exists because I am a homeowner myself, and looking to invest in a secondary property. I follow the market intensely and have been waiting for a perfect time to take the leap. The younger population might not see this opportunity just yet, due to financial restrictions and the lack of a need for a home.
*Note- I used the New York Times as my source
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