Podcast
Questions and Answers
What is the main purpose of a feasibility study?
What is the main purpose of a feasibility study?
- To conduct a marketing analysis for existing businesses
- To analyze historical data without a specific business context
- To assess the profitability of social research initiatives
- To determine the viability of a business undertaking (correct)
What does the term 'viability in all areas' refer to in a feasibility study?
What does the term 'viability in all areas' refer to in a feasibility study?
- The need for a project to be primarily legal in scope
- Unique trends in market competition
- Evaluating the potential success in multiple business aspects (correct)
- The assessment of profitability only
Which factor is NOT considered in a feasibility study?
Which factor is NOT considered in a feasibility study?
- Available technology
- Marketplace and competition
- Historical data analysis
- Personal preferences of the business owner (correct)
How often should a feasibility study be conducted?
How often should a feasibility study be conducted?
What is meant by the economic aspect of a feasibility study?
What is meant by the economic aspect of a feasibility study?
Which of the following is a characteristic of a business endeavor suitable for a feasibility study?
Which of the following is a characteristic of a business endeavor suitable for a feasibility study?
What is an essential element to consider when forecasting in a feasibility study?
What is an essential element to consider when forecasting in a feasibility study?
Which statement about feasibility studies is true?
Which statement about feasibility studies is true?
What is the significance of comparing profitability levels of a proposed business endeavor to similar projects?
What is the significance of comparing profitability levels of a proposed business endeavor to similar projects?
What is one of the main purposes of conducting a feasibility study?
What is one of the main purposes of conducting a feasibility study?
What relationship should the findings of different aspects of a feasibility study have?
What relationship should the findings of different aspects of a feasibility study have?
Why is a scientific approach valuable in the feasibility study process?
Why is a scientific approach valuable in the feasibility study process?
What is an important consideration regarding opportunity cost in a feasibility study?
What is an important consideration regarding opportunity cost in a feasibility study?
How can a feasibility study help mitigate expected business difficulties during implementation?
How can a feasibility study help mitigate expected business difficulties during implementation?
What is a key quality of a good feasibility study?
What is a key quality of a good feasibility study?
What is meant by the recovery period of capital investment in a feasibility study?
What is meant by the recovery period of capital investment in a feasibility study?
Which of the following describes the language of a good feasibility study?
Which of the following describes the language of a good feasibility study?
What are the key phases involved in the product/service development process?
What are the key phases involved in the product/service development process?
How does a feasibility study serve as a measuring instrument?
How does a feasibility study serve as a measuring instrument?
What is the purpose of a feasibility study for project proponents?
What is the purpose of a feasibility study for project proponents?
What is the purpose of providing a development timeline?
What is the purpose of providing a development timeline?
Which type of business is classified as a Micro Enterprise based on investment?
Which type of business is classified as a Micro Enterprise based on investment?
What is a critical requirement for the data used in a feasibility study?
What is a critical requirement for the data used in a feasibility study?
Why is quality assurance important in product development?
Why is quality assurance important in product development?
What aspect of the design process does prototyping highlight?
What aspect of the design process does prototyping highlight?
How does a feasibility study minimize business difficulties?
How does a feasibility study minimize business difficulties?
How does compliance with industry standards benefit a product/service?
How does compliance with industry standards benefit a product/service?
In terms of investment, what classifies a Small Enterprise?
In terms of investment, what classifies a Small Enterprise?
Why must a feasibility study present its findings objectively?
Why must a feasibility study present its findings objectively?
What is a potential limitation related to gathering information in an investment over Php 100,000,000?
What is a potential limitation related to gathering information in an investment over Php 100,000,000?
What is a critical aspect to highlight in a product's overview to differentiate it from competitors?
What is a critical aspect to highlight in a product's overview to differentiate it from competitors?
Which business structure is NOT mentioned as a liability option for investors?
Which business structure is NOT mentioned as a liability option for investors?
What demographic information is crucial for understanding the target market?
What demographic information is crucial for understanding the target market?
What psychographic detail should be considered for analyzing the target customers?
What psychographic detail should be considered for analyzing the target customers?
In the context of industry classification, which of the following is part of the study?
In the context of industry classification, which of the following is part of the study?
When describing a product or service, what aspect is essential to encourage customer interest?
When describing a product or service, what aspect is essential to encourage customer interest?
What geographic information helps to focus marketing efforts?
What geographic information helps to focus marketing efforts?
Study Notes
Feasibility Study Overview
- A systematic investigation that assesses the viability of a business undertaking.
- Evaluates factors like market conditions, competition, technology, manpower, and financial resources.
Purpose of a Feasibility Study
- Aims to enhance business sustainability and evaluate project success.
- Informs decisions regarding project implementation or abandonment.
- Serves as a measuring tool to assess actual results against projected outcomes.
- Must consider opportunity costs in its analysis.
Qualities of a Good Feasibility Study
- Comprehensive: Covers all relevant areas with complete information.
- Objective: Presents unbiased findings and absolute facts.
- Simple: Uses language easily understood by the intended audience.
- Reliable: Ensures high truthfulness in data provided.
Usefulness of a Feasibility Study
- Serves as a scientific tool for project design for proponents.
- Helps minimize difficulties during project implementation.
- Assists in evaluating profitability and sustainability of a proposed project.
Classification of Feasibility Studies
- By Investment Amount:
- Micro Enterprises: Investments up to Php 3 million.
- Small Enterprises: Investments from Php 3 million to Php 15 million.
- Medium Enterprises: Investments from Php 15 million to Php 100 million.
- Large Enterprises: Investments exceeding Php 100 million.
- By Industry Classification: Includes sectors like electronics, manufacturing, real estate, merchandising, transportation, entertainment, agriculture, and utilities.
- By Project Status: Differentiates between new projects and expansions.
Product and Service Overview
- Describes product/service features, target market analysis, and specifications.
- Target Market:
- Includes demographic information such as age, gender, income level, and education.
- Psychographic details consider lifestyles and interests of potential customers.
- Geographic location identifies where target customers reside.
Design and Development Process
- Explains how products/services are conceptualized, developed, and tested.
- Development timeline indicates phases from concept to final product.
- Highlights any prototypes or beta versions tested for user feedback.
- Details quality assurance measures and compliance with industry standards to ensure safety and reliability.
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Description
This quiz explores the fundamental concepts and principles of feasibility writing as part of a systematic investigation process. Delve into how documentation and historical data trends play a crucial role in evaluating projects and inquiries. Perfect for understanding the unique approach of feasibility studies compared to traditional social research.
