Podcast
Questions and Answers
What is the main purpose of identifying a market niche for a proposed business?
What is the main purpose of identifying a market niche for a proposed business?
- To secure a niche that is large enough to support the business (correct)
- To target industry leaders directly
- To establish multiple niches for the business
- To ensure the niche is small enough to avoid competition
In the context of feasibility analysis, what does 'management expertise' refer to?
In the context of feasibility analysis, what does 'management expertise' refer to?
- Understanding the market
- Possessing necessary skills to lead the business (correct)
- Having the passion for the business
- Securing sufficient resources
What key factor is evaluated in financial feasibility analysis?
What key factor is evaluated in financial feasibility analysis?
- Competitive advantage
- Overall financial attractiveness of the venture
- Total start-up capital needed
- Initial capital requirement (correct)
Which aspect is NOT considered during the evaluation of organizational competence?
Which aspect is NOT considered during the evaluation of organizational competence?
What does 'small enough to avoid initial direct head-to-head competition with industry leaders' imply about identifying a market niche?
What does 'small enough to avoid initial direct head-to-head competition with industry leaders' imply about identifying a market niche?
What question is raised in the context of organizational feasibility analysis regarding resources?
What question is raised in the context of organizational feasibility analysis regarding resources?
When considering financial feasibility, what does 'the financial performance of similar businesses' help evaluate?
When considering financial feasibility, what does 'the financial performance of similar businesses' help evaluate?
In the ideation process, what is essential in determining whether a proposed business has sufficient feasibility?
In the ideation process, what is essential in determining whether a proposed business has sufficient feasibility?
What is one of the considerations when evaluating financial feasibility regarding the total start-up capital needed?
What is one of the considerations when evaluating financial feasibility regarding the total start-up capital needed?
What is NOT typically evaluated in financial feasibility analysis?
What is NOT typically evaluated in financial feasibility analysis?
