7.For your business idea, what are the demographic, psychographic, technical, and societal changes as well
as the political and regulatory forces in your industry.
Demographic: In the last decade the warehouse industry has moved increasingly to hiring younger temporary
workers who can lift heavy objects and sustain a very high rate of order fulfilment rather than older workers
with industry experience.
Psychographic: Younger workers have used smartphones and advanced technology from a young age, we
expect them to adapt to new technology in the workplace rapidly. Younger workers are expected to adopt new
technologies like AR in the workplace with little difficulty.
Technical: Most warehouses have existing wireless networks to support existing equipment. The addition of AR
wearables within the warehouse should require minimal additional investment in technical infrastructure
Societal: There has been a large shift towards part-time work within society. Warehouses are struggling to train
Political and regulatory: Warehouses are strictly regulated at the local, state and federal level. Legal
compliance is a must for the company, mistakes lead to huge fines and customer dissatisfaction. Warehouses
must maintain strict supply chain tracking to ensure authenticity of goods. Many goods must be maintained at
specified temperatures and levels of humidity to ensure product quality at delivery.
Apply your knowledge to develop a new Opportunity
Analysis Canvas for yourself by responding to the provided questions. Focus on an opportunity for which you
can develop and launch a product within the next 12 months. Your solution should leverage your skills and
relationships, and require initial funding of no more than $25,000 to bring the product to market.
Sample Solution
