Read the following scenario, then answer the questions that follow. Small businesses have many short-term needs, but hi

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Read the following scenario, then answer the questions thatfollow.Small businesses have many short-term needs, but hiring additionalstaff for a small project is usually out of the question because ofthe high cost. They certainly can't afford to call in a top-shelfconsulting firm, like McKinsey, Bain, or the Boston ConsultingGroup. So, when these companies need fresh insight or a newmarketing plan, they usually have to muddle through on theirown.But that is changing. Catalant (formerly HourlyNerd), aBoston-based online marketplace, got its start by meeting thisgrowing demand for expertise by connecting small businesses withMBA students who could use the money and are up for the challengeof tackling short-term projects. Catalant's platform maximizesflexibility for firm and consultant alike, while lowering the costof such services by as much as 80 percent.The startup is the brainchild of Rob Biederman, Peter Maglathlin,and Patrick Petitti, who developed the concept as part of a classassignment while attending Harvard Business School. Catalantamassed a database of current MBA students at top-tier businessschools around the world. The co-founders agreed from the startthat the quality of students and their business acumen would be keyto building credibility and forming a successful businessmodel.After graduation, the trio committed themselves to launching thecompany and, in time, secured millions of dollars from investors(including Shark Tank celebrity, Mark Cuban) tofeed the fire of expansion for the high-potential venture. Sinceits early days, the startup has grown quickly, using social mediaand word-of-mouth from happy customers to acquire new clients. Thebusiness has served an array of customers, ranging from a verysmall Boston-area florist to giant firms like Microsoft andGE.Catalant attracts clients with the promise of cutting personnelcosts while accessing valuable and objective insights and skillsfrom well-trained MBA student-consultants. The business model alsotracks nicely with some very important fast-emerging trends. "Thefreelance economy's rapid growth is forcing a new conversationbetween global enterprises and top talent," says co-founder andco-CEO Biederman. As Catalant's founders and their expanding cadreof sales representatives have hit the streets to educate morecompanies about how they stand to benefit from working freelancertalent into their day-to-day operations, an avalanche of businesshas been coming their way.The arrangement certainly works well for the student-consultants aswell. Pursuing an MBA degree can be a very costly undertaking,adding financial strain to students who must put their professionallives on hold for years while completing their studies. During thisperiod, some students have enough free time to take on short-termprojects. Catalant simply provides a platform that allows them toflex their business acumen and earn extra income while pursuingtheir degrees.Catalant has experienced tremendous growth, having connected clientcompanies with a global network of 40,000 MBA students and otherexperienced independent consultants. It certainly creates anopportunity for small companies to access the talent they need, andat a price they can afford. But as Catalant has grown, so has thesize of the clients with which it works. And the results speak forthemselves since it appears that this entrepreneurial venture isn'tgoing to run out of takers for its trend-matching services anytimesoon.
How does Catalant help small businesses access the highlytrained and talented expertise that they need and at a price theycan afford?
How can Catalant offer such value for businesses of all sizesand link these firms with consulting assistance?