Podcast
Questions and Answers
What is the primary purpose of conducting a feasibility analysis?
What is the primary purpose of conducting a feasibility analysis?
- To compete head-to-head with industry leaders
- To determine the financial performance of similar businesses
- To identify a broad target market
- To assess the management expertise and resource sufficiency (correct)
Why do most start-ups focus on a smaller target market initially?
Why do most start-ups focus on a smaller target market initially?
- To avoid serving a specialized market very well
- To have sufficient resources to participate in a broad market
- To engage in head-to-head competition with industry leaders
- To avoid head-to-head competition with industry leaders (correct)
What does financial feasibility analysis primarily evaluate?
What does financial feasibility analysis primarily evaluate?
- The management prowess and organizational competence of the business
- The resources needed to participate in a broad market
- The total start-up cash needed and the financial attractiveness of the proposed business (correct)
- The industry leaders' financial performance
Why is First Screen called 'First Screen'?
Why is First Screen called 'First Screen'?
What are the two primary issues considered in organizational feasibility analysis?
What are the two primary issues considered in organizational feasibility analysis?
What is the primary purpose of feasibility analysis?
What is the primary purpose of feasibility analysis?
When should a feasibility analysis be conducted?
When should a feasibility analysis be conducted?
What are the two components of product/service feasibility analysis?
What are the two components of product/service feasibility analysis?
What is a concept statement in the context of feasibility analysis?
What is a concept statement in the context of feasibility analysis?
What are the two techniques for determining the likely demand for a product or service?
What are the two techniques for determining the likely demand for a product or service?
Flashcards
Purpose of Feasibility Analysis
Purpose of Feasibility Analysis
To assess the viability of a proposed project or business idea to determine its likelihood of success.
Start-up Target Market Strategy
Start-up Target Market Strategy
Focus on a smaller group of customers to minimize risk, iterate quickly, and build loyalty before expanding.
Financial Feasibility Analysis
Financial Feasibility Analysis
Evaluates potential revenue, costs, profitability, and funding needs to ensure the project is fiscally viable.
Significance of 'First Screen'
Significance of 'First Screen'
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Organizational Feasibility
Organizational Feasibility
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Primary Purpose of Feasibility Analysis
Primary Purpose of Feasibility Analysis
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Product/Service Feasibility Components
Product/Service Feasibility Components
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Concept Statement
Concept Statement
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Demand Determination Techniques
Demand Determination Techniques
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Study Notes
Feasibility Analysis Overview
- The primary purpose of conducting a feasibility analysis is to assess the viability of a proposed project or business idea to determine its likelihood of success.
- A feasibility analysis helps identify potential obstacles and resource requirements, guiding informed decision-making.
Start-ups and Target Markets
- Most start-ups initially focus on a smaller target market to minimize risk, iterate on their product quickly, and build a loyal customer base before scaling.
Financial Feasibility Analysis
- Financial feasibility analysis primarily evaluates the financial aspects of a project, including potential revenue, costs, profitability, and funding requirements to ensure fiscal viability.
Significance of 'First Screen'
- First Screen is called 'First Screen' because it often serves as the initial interface users experience, crucial for first impressions and engagement in digital applications or platforms.
Organizational Feasibility Analysis
- Two primary issues considered in organizational feasibility analysis are the capability of the team to execute the project and the alignment of the organizational structure with the business goals.
Purpose and Timing of Feasibility Analysis
- The primary purpose of feasibility analysis is to validate or invalidate a business idea and inform stakeholders about its practicality.
- A feasibility analysis should be conducted before fully investing time and resources into a project to ensure informed planning.
Components of Product/Service Feasibility
- Two components of product/service feasibility analysis are product viability, ensuring the product meets market needs, and competitive analysis, evaluating existing competition in the market.
Concept Statement
- A concept statement in the context of feasibility analysis is a concise description of the product or service, outlining its unique value proposition and target market to gauge interest and viability.
Demand Determination Techniques
- Two techniques for determining the likely demand for a product or service include market surveys, which gather consumer preferences and reactions, and test marketing, which evaluates real-world performance through limited product release.
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