Question

1. Identify a change that has recently occurred or is occurring in the demographic and social environment that presents an opportunity for an entrepreneur. 2. Give evidence to justify that this change is occurring. 3. Explain why this change creates an opportunity for an entrepreneur, and a good, service, or business that could be developed to exploit the opportunity. Do not describe a good, service, or business that already exists. 4. Describe the good, service, or business in sufficient detail so that I can understand how it would work. Your good, service, or business must be original or have a significant original component to it. You may not use an app for your good, service, or business idea. You may not use the same product or a similar product to the one you used for the first assignment. 5. Justify why you believe your idea for a good, service, or business is an exploitable opportunity with a viable chance for success. Be sure to answer each question, and be thorough in your explanations. If your product, service, or business relies on technology, the technology must be currently available.

Answer 1

1. An enterpreneur is exposed to a variety of opportunities in the present scenario with the changing consumer references, advanced technology and the demand for radical innovation. Even COVID-19 has also led to an increase in entrepreneurial activity. It is necessary to devise new ideas to respond to existing or emerging needs insufficiently addressed by governments and incumbent institutions.

2. The changes we observe today may be a double-edged sword. Some might argue that the crisis could negatively impact the risks associated with entrepreneurship, and ultimately hinder start-ups in attracting the right talent; others might suggest that the changes we observe today could alter perceptions of entrepreneurship for the better.During these times of crisis, the demand for safe and more productive ways of handling the situation is necessary . Think back to Franklin D Roosevelt’s response to the great depression, rolling out the new deal and spending to get America back on its feet. The furlough schemes in the UK and effective implementation of a basic income scheme in the US are modern examples.

3. One of such business idea that can be effectively implemented in these tough times is making available ready to move quarantine homes which are not only portable but also equipped with efficient instruments of oxygen supply, emergency medicines, health checkup devices and medical personnel.

4. Quarantine homes can act as a relief for the people who are not able to get admitted in the hospitals due to lack of beds and other medical faciility. Such quarantine homes will not only assist in providing comfort to the affected patients but they can also act as an ambulance in case of emergencies or critical situations.

5. With a worldwide health emergency in play, it's a huge opportunity for the health and wellness sector to place itself as a necessity among the users. Branding ourselves as pivotal and much needed support mechanism, this industry is already on a rise to becoming the one with most growth perspectives in the future.

People facing the imminent threat of immunity deficiency paranoia, are looking forward to anything that helps them stay healthy and fit. Adding to which, the various advisories by the authorities across the world are promoting such things, and which is an uncalled for publicity if nothing else. Also, the demand for such things has risen so drastically that the existing entities already have more than their appetite on the plate.