2.04 Explore the Possibilities

A feasibility study is an organized inquiry into the possible success of a business idea or venture.

• True

• False

Government Agencies do not use feasibility studies.

• True

• False

Which is not a purpose of a feasibility study?

• to help owners/managers not make a sound informed decision

• to determine whether or not the venture can succeed

• to explore the venture's strengths and weaknesses

• to discover any "make or break" issues

Understanding risks and benefits is an advantage of a feasibility study.

• True

• False

When the ideas is not promising you should still conduct a feasibility study.

• True

• False

What is step one in conducting a feasibility study?

• write a descriptionof your proposed project or venture

• determine whether or not you should hire a professional

• perform a market analysis

• create an organizational plan

What is Step six in conducting a feasibility study?

• review your work carefully

• create an organizational chart

• assess your technical needs

• Outline the financials

What is Step 8 in conducting a feasibility study?

• hire your workers

• create an organizational plan

• review your work carefully

• present the feasibility study

Is using a former employer's feasibility study ethical or Un-ethical?

• Ethical

• Unethical

How many steps are in a feasibility study?

• Four

• Six

• Seven

• Eight