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Question No. 01

Bernstein and Usluel should carefully consider both the positive and negative outcomes of the initiative. It could be a great hit because there is a great room for success in the field of training/coaching through multimedia. The best part of the plan is distance learning through the use of the product. They have to keep in mind the scope and opportunities in this market. There is a market of 45 billion dollars of corporate training. Corporations spend a lot of money on the travel of trainers. Moreover, trainers can teach at only one place. On the other hand, using this multimedia product companies can train their employees present at different places at the same time. Costs on the travel of the trainers are reduced to zero. A single trainer can teach even all the employees at the same time. These specialties add a lot of value to the product. They can easily find some companies for funding and offer them beta versions of the product. It can result in huge success if they succeed in making the desired product. Moreover, they will also have to look at the negative side of this project. The startup could fail and it might bring irreparable loss to the careers of the duo. They can also consider working in big companies but the risk of starting a new business could result in a huge success.

Question No. 02

The simplest explanation for the opportunity is getting a chance to succeed. It is an opportunity for both of them because they have a very good idea to work on. Moreover, their team is excellent and their combination is good. They also have Wilson with them who is expert in this field. It is an excellent opportunity for them because there are no such products available in the market. Their product could be very appealing to big companies that spend millions of dollars on the training of their employees. The corporate training accounts for more than 46 billion dollars. They can get a good share in this corporate training market. Wilson’s credibility would also be a great help for them. It seems to be a great opportunity for them but the final results depend upon luck and the perfect execution of their business plan. If the product becomes a hit then it could prove to be a life-changing opportunity for both of them. It is also a great opportunity for Wilson because he would only serve as a part-time CEO while continuing his current job. It can be said that it is a good opportunity for all of them.

Question No. 03

Bernstein’s team is very balanced and it has covered all the bases very well. They have diverse educational backgrounds that add to the strength of the team. Bernstein is very good at economics while Usluel has good command over software development. Wilson is an expert in multimedia and he has a very good reputation. The team members are all skilled and they are willing to take on this opportunity. If they want to pursue this opportunity, they will also need a marketing team. Without the marketing team, they won’t be able to get corporate clients. The marketing team will also make an efficient advertisement policy. They act as the mouth of the company so it is necessary to make a strong marketing team. The founders would be busy be making the product, so they would not have extra time for marketing of the product. The marketing team has the potential to bring many new customers to the startup. Apart from this, the startup would also need to hire an auditor to check the transparency of the finances. These additions would make the team even stronger and they might generate huge revenue for the startup.

Question No. 04

The most important assumption is that computers and multimedia devices are going to take the world by storm. In addition to that, there is a great opportunity to capture the market for corporate training. Conventional training needs a lot of budgets and it is very difficult for the companies to manage the training of a large number of employees. Multimedia solves this problem by enabling companies to train a large number of workers present at different places at the same time. Moreover, the companies won't have to spend on the travel of the training. Training of all the employees at a time would also save a lot of money for the company. It would give a company a competitive edge over its rivals because of saved financial resources. This will attract more companies to buy the product and reduce their costs on training. This might lead to a great increase in the popularity of the product. The company could be able to capture a healthy share of the market.

Question No. 05

The major strength of the business plan is that all the members are very skilled in their respective fields. Their CEO has a lot of experience in the multimedia field and he is considered credible in this field. Moreover, the company plans to offer a wide range of products based on the spending power of the customers. Failure to target one category of customers would not completely destroy the company. In addition to this, it is expected that multimedia devices will get cheaper with the passage of time. The software developed by the company could be used for all the customers with some small changes. The company plans to target top companies in the country and it could get many corporate customers in the early phase of the company.

There are also many weaknesses in the business plan. The main weakness is that the CEO would work only part-time for the company. It would be his second preference.to lead this company. It is very difficult to acquire high-level corporate customers because they can develop such products. Moreover, any person with good knowledge of multimedia devices can develop a similar product. It would be very difficult for the company to capture a huge share of the billion-dollar market.