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Business Opportunity and Population Changes Quiz

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Business Opportunity and Population Changes Quiz

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Questions and Answers

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?

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?

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?

Passion for the business Signup and view all the answers

What does 'small enough to avoid initial direct head-to-head competition with industry leaders' imply about identifying a market niche?

The niche should be unique and unchallenged by big players initially Signup and view all the answers

What question is raised in the context of organizational feasibility analysis regarding resources?

Are working space and labor available? Signup and view all the answers

When considering financial feasibility, what does 'the financial performance of similar businesses' help evaluate?

Financial stability Signup and view all the answers

In the ideation process, what is essential in determining whether a proposed business has sufficient feasibility?

Management expertise Signup and view all the answers

What is one of the considerations when evaluating financial feasibility regarding the total start-up capital needed?

Cash needed to make the first sale. Signup and view all the answers

What is NOT typically evaluated in financial feasibility analysis?

Technological advancement in the industry. Signup and view all the answers