Entrepreneurship Lecture 4 & 5 Feasibility Study

False (B)

A benefit that exists when a firm has a product or service seen as better than competitors.

<p>Technical Feasibility</p> Signup and view all the answers

<p>Cost-Advantage Strategy = Lowest-cost producer Marketing-Advantage Strategy = Emphasizes uniqueness of product or service Michael Porter Competitive Strategies = Framework for competitive positioning Peter Drucker's Generic Competitive Strategies = Generic approaches for competitive advantage</p> Signup and view all the answers

<p>What resources do they control? (D)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Co-opting potential or actual competitors.</p> Signup and view all the answers

<p>Revenue Streams (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Key resources</p> Signup and view all the answers

<p>Value Propositions</p> Signup and view all the answers

<p>Customer Segments = The different groups a company intends to serve Channels = The ways to deliver value propositions Key Partners = Strategic alliances to support value creation Cost Structure = Main items contributing to operational costs</p> Signup and view all the answers

<p>Government Agencies (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>Business Model Canvas</p> Signup and view all the answers

<p>financial</p> Signup and view all the answers

<p>Personal Savings = Equity Commercial Banks = Debt Venture Capital Firms = Equity Asset-Based Lenders = Debt</p> Signup and view all the answers

<p>Value Proposition (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>Targeted return on investment</p> Signup and view all the answers

<p>To ensure clear and relevant data collection (B)</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

<p>Closed-ended and Open-ended</p> Signup and view all the answers

<p>goals</p> Signup and view all the answers

<p>Target Population = The group that the study aims to understand Selection of Sample = The process of choosing participants for the study Objectives = The aims or goals of conducting research Methodology = The approach taken to collect and analyze data</p> Signup and view all the answers

<p>Operational Feasibility (B)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>Size, composition, taste, attitudes, preferences, demand, consumer income.</p> Signup and view all the answers

<p>promotion</p> Signup and view all the answers

<p>Market Feasibility = Analysis of market conditions Technical Feasibility = Assessment of technical requirements Operational Feasibility = Evaluation of operations and logistics Financial Feasibility = Examination of financial risks and returns</p> Signup and view all the answers

<p>Is the market ready for this product/service? (D)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>To determine if the business idea is viable and to formulate a plan of action.</p> Signup and view all the answers

<p>Financing from multiple investors (A)</p> Signup and view all the answers

<p>True (A)</p> Signup and view all the answers

<p>Observation</p> Signup and view all the answers

<p>previously obtained</p> Signup and view all the answers

<p>Focus Groups = Interactive discussion with a small group Brainstorming = Generating a wide range of ideas through group effort Problem Inventory Analysis = Identifying problems to inspire solutions Reverse Brainstorming = Thinking of ways to cause a problem to find solutions</p> Signup and view all the answers

<p>Government publications (A)</p> Signup and view all the answers

<p>comments of people</p> Signup and view all the answers

<p>False (B)</p> Signup and view all the answers

Examining if a product or service is suitable for the market, considering size, composition, taste, attitudes, preferences, demand, and consumer income.

Understanding the market by analyzing its size, composition, tastes, attitudes, preferences, demand, and consumer income.

Examining market response factors like price.

A systematic investigation to determine if a business idea is viable, considering market, technical, operational, and financial aspects.

Customer reaction to a product or service regarding factors like price.

Assessing if a business idea is worthwhile to pursue.

To determine if a business idea is practical and the steps to make it successful.

Determining the price point for a product/service that resonates with the market.

Identifying, evaluating, and strategizing against current and potential competitors.

A competitive strategy focusing on becoming the lowest-cost producer.

A competitive strategy emphasizing product/service uniqueness.

A benefit when a company's product/service is perceived better than competitors'.

A factor influencing market response to a new product.

Essential locations available for product distribution.

Assessing the technical skills, equipment, and know-how needed to operate a business.

Assessing the practical aspects of running a business, including securing supplies, staffing, and maintaining quality and cost control.

Analyzing the financial needs of a business and how those needs will be met, considering funding options (loans, equity) and expected ROI.

Different ways to obtain funding for a business, including personal savings, loans, attracting equity investors, and more.

The strategy a business uses to operate and generate income. It determines the feasibility of the business.

A tool for assessing and developing a business model by evaluating nine core aspects to ensure its viability.

The desired profit a business aims to achieve relative to the investment.

Funding obtained through the sale of ownership in the company.

A product or service package a company offers to its customers.

The groups of people a company aims to serve with its value proposition.

The interactions and connections a company builds with its customers to satisfy and retain them.

The ways a company delivers its value proposition to its customer segments.

How a company generates income from its assets and operations.

Questions with pre-defined answer choices, allowing respondents to select one or more options.

Questions that allow respondents to provide their own answers in their own words.

A circular graph divided into slices representing proportions of a whole data set.

A graph with rectangular bars representing data values, often used for comparisons.

A graph that uses lines to connect data points, showing trends or changes over time.

Characteristics that define a business as 'small', including limited funding, localized operations, size relative to competitors, and a small workforce.

Identifying emerging trends within the economy can spark ideas for new products or services.

Analyzing the specific needs and gaps within a local community can lead to valuable business opportunities.

Observe common difficulties people face and brainstorm innovative solutions that address those challenges.

Pay attention to people's daily activities, fashion choices, eating habits, and lifestyles to uncover potential business ideas.

Information collected firsthand through research methods like observation, experiments, surveys, or focus groups.

Information previously collected and available for analysis, such as government reports, publications, or company data.

Observing natural activities and behaviors to gather insights.