1. Assume, you are going to start your own business of providing light-weight medical equipments. Your plan is to start over online. You are planning to take orders from online & initially you will do it for limited customers who are from your own circles of friends & relatives & neighbors. Now answer the following questions: - a) Find a name for this business, it could be in English or Bengali & write the justification of it. b) Which companies will be your rivals & why? c) What will be your threat of substitutes? Which kind of companies? d) What will be your bargaining power over your buyers? Weak or strong? Why? 2. One great business scholar has suggested the following strategies for business:- "If you let fear dictate strategy, your response to the COVID-19 crisis will tend to be defensive and reactive. By contrast, if you maintain a growth and opportunity mindset, you will be receptive to new ideas and approaches. The first step to thriving in these uncertain times is to realize that the business landscape is dynamic and evolving. Be curious. How are your customers' needs and expectations changing? How have the pandemic revealed flaws in your old business model? The next step is a willingness to explore alternatives to your current business model. Do not assume that the new normal is temporary and that we will eventually go back to the old normal. The pandemic is a game-changer. Be open to rolling with those changes rather than fighting them. Finally, you must be willing to choose and take action. Your decisions will not be perfect. You will have to modify and adjust to a situation that is fluid and uncertain. But inaction is a choice as well, and usually not the best one." Now answer: - a) In the above situation, proactive strategy is advised, but still point out & describe briefly some reasons in favor of reactive strategy in such condition