My Solution

1. My solution for the first opportunity from my previous post would be, for the oil companies looking to get back into production now that oil is over $50 per barrel once more, to create a new, more economically efficient way to produce oil that would yield similar profits to those when oil was close to $100 a barrel just a few short years ago. This could include creating a drill that would be faster, more energy efficient, and cheaper to produce, for example.

2. My solution for the second opportunity would be for entrepreneurs and/or existing companies to create a new product or lifestyle set that would be specifically tailored towards millennials, focused on delivering a product that would be affordable enough for them to afford it while also maximizing appeal and allowing millennials to comfortably live on their own. This could include pre-made houses that defy that the traditional notion of pre-made houses, and could include modern furniture, appliances, and goods that specifically appeal to millennials.

3. My solution for the third opportunity would be for a major retailer, or retailers, to announce a policy that they charge for plastic bags before legislation forces them to. I believe that it would lead to stronger brand perception and appeal and better impact on the environment as a whole, as well as set precedence for other companies to follow suit. This could entail creating a reward service where, when customers bring in their own bags in order to transport their recently purchased goods, they receive a percentage off of their total sale price.

4. My solution for the fourth opportunity would be for the competing airbag companies that rival Takata, to deliver a higher quality airbag to those automakers that were affected by the recent recall of over 12 million airbags. This would lead to new contracts as the supplier of airbags for many of the automakers that were affected and allow the companies that capitalized on this opportunity to innovate and prosper. This could include creating a new, safer airbag that would address all of the issues that were found within the Takata airbag that had to be recalled.