Feasibility Analysis Quiz

What is the primary purpose of feasibility analysis in business?

• To enhance customer satisfaction

• To increase product sales

• To reduce employee turnover

• To evaluate the viability of a project

Which component of feasibility analysis examines the demand and competition for a product?

• Technical feasibility

• Market feasibility

• Organizational feasibility

• Financial feasibility

What does technical feasibility focus on?

• Technical resources and expertise

• Legal and regulatory compliance

• Cost structure and revenue potential

• Market trends and customer demographics

Which feasibility component involves analyzing startup costs and profit margins?

• Financial feasibility

• Legal feasibility

• Market feasibility

• Technical feasibility

What is the first step in conducting a feasibility analysis?

• Review and decision-making

• Preliminary evaluation

• Creating an action plan

• Detailed research and data collection

What is the final step in the feasibility analysis process?

• Preliminary evaluation

• Creating an action plan

• Detailed research and data collection

• Review and decision-making

How does feasibility analysis help in risk mitigation?

• By identifying potential risks early

• By increasing market demand

• By enhancing product features

• By reducing production costs

Which benefit of feasibility analysis involves using data for decision-making?

• Market expansion

• Efficient resource allocation

• Informed decision-making

• Risk mitigation

What is a key benefit of feasibility analysis in terms of resource allocation?

• It decreases the need for market research

• It ensures resources are allocated to viable projects

• It increases the number of projects undertaken

• It helps in reducing employee workload

Why is feasibility analysis considered crucial for long-term success?

• It eliminates all business risks

• It guarantees immediate profits

• It helps avoid costly mistakes

• It ensures compliance with all regulations