Feasibility Writing Concepts and Principles

Questions and Answers

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?

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?

Available technology

Marketplace and competition

Historical data analysis

Personal preferences of the business owner (correct)

How often should a feasibility study be conducted?

Regularly, as part of an ongoing evaluation process Signup and view all the answers

What is meant by the economic aspect of a feasibility study?

The analysis of monetary exchanges involved in the project Signup and view all the answers

Which of the following is a characteristic of a business endeavor suitable for a feasibility study?

It should aim for profit and involve value exchange Signup and view all the answers

What is an essential element to consider when forecasting in a feasibility study?

Trends in historical data Signup and view all the answers

Which statement about feasibility studies is true?

They assess the ability to complete a project successfully in various aspects Signup and view all the answers

What is the significance of comparing profitability levels of a proposed business endeavor to similar projects?

It ensures that profitability is meaningful in a broader context. Signup and view all the answers

What is one of the main purposes of conducting a feasibility study?

To enhance the sustainability of a business endeavor. Signup and view all the answers

What relationship should the findings of different aspects of a feasibility study have?

They should support and be coordinated with each other. Signup and view all the answers

Why is a scientific approach valuable in the feasibility study process?

It facilitates objective evaluation of project success. Signup and view all the answers

What is an important consideration regarding opportunity cost in a feasibility study?

Opportunity cost must be analyzed to inform investment decisions. Signup and view all the answers

How can a feasibility study help mitigate expected business difficulties during implementation?

By identifying potential challenges and strategies in advance. Signup and view all the answers

What is a key quality of a good feasibility study?

It should be concise yet comprehensive. Signup and view all the answers

What is meant by the recovery period of capital investment in a feasibility study?

The time required to break even. Signup and view all the answers

Which of the following describes the language of a good feasibility study?

It should simplify complex data for the reader. Signup and view all the answers

What are the key phases involved in the product/service development process?

Research, ideation, prototyping, and testing Signup and view all the answers

How does a feasibility study serve as a measuring instrument?

It measures outcomes against planned objectives and metrics established during the study. Signup and view all the answers

What is the purpose of a feasibility study for project proponents?

To assess the potential success and challenges of a project. Signup and view all the answers

What is the purpose of providing a development timeline?

To illustrate the time and effort invested in creation Signup and view all the answers

Which type of business is classified as a Micro Enterprise based on investment?

Investment of Php 2,000,000. Signup and view all the answers

What is a critical requirement for the data used in a feasibility study?

It should reflect a high degree of truthfulness. Signup and view all the answers

Why is quality assurance important in product development?

To confirm the product meets industry standards and customer expectations Signup and view all the answers

What aspect of the design process does prototyping highlight?

The necessity of user feedback and iteration Signup and view all the answers

How does a feasibility study minimize business difficulties?

By anticipating potential issues before implementation. Signup and view all the answers

How does compliance with industry standards benefit a product/service?

It ensures safety, reliability, and best practices adherence Signup and view all the answers

In terms of investment, what classifies a Small Enterprise?

Investment of Php 3,000,001 to Php 15,000,000. Signup and view all the answers

Why must a feasibility study present its findings objectively?

To ensure unbiased decision-making. Signup and view all the answers

What is a potential limitation related to gathering information in an investment over Php 100,000,000?

Cost of data collection may be very high. Signup and view all the answers

What is a critical aspect to highlight in a product's overview to differentiate it from competitors?

The superior aspects of durability or performance. Signup and view all the answers

Which business structure is NOT mentioned as a liability option for investors?

Limited Liability Company Signup and view all the answers

What demographic information is crucial for understanding the target market?

Age, gender, income level, and education. Signup and view all the answers

What psychographic detail should be considered for analyzing the target customers?

Lifestyles, values, and interests of customers. Signup and view all the answers

In the context of industry classification, which of the following is part of the study?

Real Estate Signup and view all the answers

When describing a product or service, what aspect is essential to encourage customer interest?

User-friendliness of the product/service. Signup and view all the answers

What geographic information helps to focus marketing efforts?

Where target customers live. Signup and view all the answers

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.