Our next discussion board activity is about Entrepreneurship
This activity builds some on what we did in our SWOT analysis but rather than an existing company, we want to create an idea for a new company based upon an opportunity we can see from the current news.
Find a unique article about a situation our society is facing initially posted after Septmber 15th 2020 on a reputable news site. (e.g., https://www.msn.com/en-us/finance/realestate/presenting-home-prices-are-set-to-plummet-in-the-next-year-on-the-new-coronavirus-spike-e2-80-94-heres-how-much-and-which-markets-are-most-at-risk/ar-BB16xieJ (Links to an external site.))
Please post the link to the article at the top of your initial post.
Write a minimum of 5 sentences and be sure to answer:
What is the basic idea of the story?
What opportunity (pages 203-204 in Chapter 7) does the news situation create?
What is your idea for a new business? (page 203)
Why do you think this business will succeed?
You can choose either a for profit or social entrepreneurship. For a for-profit, who would be your customers? For a social entrepreneurship, who will be your donors?
Ex: The news story discusses the prediction that home prices will plummet over the next year. Since currently there is a lack of available homes, and very little new home starts, the only way for home prices to plummet is if people can’t afford their homes and must move out and rent. The demand for rentals will go up, so I plan on converting the unused office space now that everyone is working from home to co-living spaces like they see in NYC or LA. The current co-living spaces are not viable with the COVID19 crisis so we plan on duplicating the micro apartment to limit cross-exposure (see https://www.dezeen.com/2019/03/18/micro-home-floor-plans-micro-apartment/ (Links to an external site.)). There is growing demand for cheaper, safe and comfortable living space for the people most impacted (food service, construction, etc) with the mass layoffs. Rather than rent an $1400/month apartment downtown, we will rent one of these micro-apartments for less than $400/month in downtown Norfolk.
