Entrepreneurship Feasibility Analysis

________ is the process of determining whether a business idea is viable.

• Feasibility analysis

• Opportunity recognition

• Viability analysis

• Scenario analysis

Which of the following is NOT one of the four areas of feasibility analysis discussed in the textbook?

• Product/service feasibility

• Financial feasibility

• Societal feasibility

• Organizational feasibility

Cynthia Jones recently surveyed 200 of her classmates to get a sense of the demand for a new software product she is working on. Collecting data via a survey you administer yourself is referred to as ________ research.

• direct

• derivative

• primary

• secondary

A feasibility analysis is an assessment of a potential product or service idea rather than a potential business.

• True

• False

A(n) ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.

• concept test

• product/service statement

• impression test

• idea prospectus

The two components of product/service feasibility analysis are product/service ________ and product/service ________.

• value; affordability

• demand; timeliness

• timeliness; value

• desirability; demand

A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.

• target market; industry

• industry; trade group

• competitive group; target market

• industry; target market

________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed.

• Institutional

• Financial

• Organizational

• Industry/target market

The most important issues to consider in financial feasibility analysis are ________.

• resource sufficiency, industry attractiveness, and total startup cash needed

• total startup cash needed, financial performance of similar businesses, and the overall financial attractiveness of the proposed venture

• target market attractiveness, resource sufficiency, and product/service demand

• total startup cash needed, management prowess, and product/service demand