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You are a student staying home during the COVID-19 pandemic. You discover a need in the...

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Operations Management

You are a student staying home during the COVID-19 pandemic. Youdiscover a need in the market for a new product. Suppose you wantto start a company to sell this new product and fill the marketgap.

a) How will your company create and capture value in suchuncertain times?

b) What do you foresee for the future of your company as thepandemic slows? How will you maintain market share?

Answer & Explanation Solved by verified expert
4.4 Ratings (668 Votes)
a The product can be an online digital product that can be developed at home during the quarantinelockdown situations everywhere The company will first need people to design the technical aspects of the product based on my idea This will then need to be developed tested by the company tested by users beta testing and finally launched to customers As a student it is important to me to keep the costs down which can be done using angel investors a little unlikely in this time and with only a students idea reaching out to contacts might be able to bring in an initial cashflow to start things up using only open source software and tools is a great way to build software that costs less than others in the market There are a lot of open source possibilities in the public domain and these can be reviewed to find the best option for the proposed product engaging    See Answer
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