Entrepreneurship Lesson 2.04 Review

The end goal of a feasibility study is to

• determine the best marketing tactics for the venture

• convince investors to commit money to the venture

• ensure the competitors cannot steal the idea for the venture

• allow owners/managers to make a sound decision avout the venture

Which of the following is a reason to conduct a feasibility study

• Hiring a new employee

• Considering a new product idea

• Ordering office supplies

• Choosing an advertising slogan

A feasibility study can form a solid foundation for which of the following business documents

• Business Plan

• Income Statement

• Balance Sheet

• Annual sales report

Owners/Managers should not conduct a feasibility study if they are

• considering a business expansion

• certain the idea is feasible

• not ready to start the venture

• unsure about the idea

The final step in the process of conducting a feasibility study is

• writing a brief description of the project

• presenting the study to the appropriate audience

• reviewing your work carefully

• assessing technical needs

A business's computer networking requirements would be listed in which section of a feasibility study?

• Technical

• Organizational

• Financial

• Marketing

Feasibility studies can help businesses prevent

• wasting resources

• lawsuits

• employee turnover

• competition

Which section of a feasibility study includes information about obtaining raw materials?

• Organizational

• Market analysis

• Financial

• Technical

To be feasible, your venture must

• serve the greater public good

• fulfill a need for the target market

• create a new or improved product

• be innovative

The final task in the financial section of a feasibility study is performing a(n)

• annual review

• organizational assessment

• estimate of reviews

• profitability analysis