What are the four components of a feasibility analysis

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Reference no: EM132090913

Creating a Feasibility Analysis for a New Business

Part 1. Answer the following questions, within 100 words minimum

Chapter 3

Cash and Operating Budgets

1. Explain the purpose of a feasibility analysis, including any primary issues.

2. Create a feasibility analysis template for a product or service.

3. Explain the importance of feasibility analyses for entrepreneurs.

Chapter 3

Assessing product/service demand

4. What are the two ways that entrepreneurs assess the likely product demand for the proposed product or service they are analyzing?

Concept Statements

5. What is a concept statement?

6. Give an example of a typical concept statement.

Four components of a feasibility analysis

7. What are the four components of a feasibility analysis?

8. which of these components is most important to a small business owner?

9. Why is this component most important to the small business owner?

Key Risk Indicators

10. What are Key Risk Indicators and how can they be used by a small business?

Part 2: Feasibility Study Paper

Resource: Figure 3.1 in Ch. 3 of Entrepreneurship

Prepare a 1,750- to 2,100-word paper discussing what is needed to complete a feasibility study for a new start up or a new product line within an existing firm.

Complete a feasibility study for the new product or service based on the template in Figure 3.1.

Include the following in your paper:

• The Business Problem and Opportunity Statement

• The Feasibility Study Requirements

• Assumptions

• Alternative ranking (as needed)

• Conclusion/decision

• Appendix (feasibility study) and references

Reference no: EM132090913

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