Feasibility Analysis Lecture Notes

These flashcards cover key concepts related to feasibility analysis in business, highlighting various types and components necessary for evaluating a business idea.

Feasibility Analysis

The process of determining whether a business idea is viable and worth pursuing.

Product/Service Feasibility Analysis

An assessment of the overall appeal of a proposed product or service, ensuring it meets prospective customers' wants.

Industry/Market Feasibility Analysis

An evaluation of the appeal of the industry and target market for the proposed business.

Organizational Feasibility Analysis

A study to determine if a proposed business has sufficient management expertise and resources to successfully launch.

Financial Feasibility Analysis

The last component of a comprehensive feasibility analysis that assesses the financial requirements and performance of a business.

Product/Service Demand

The assessment of potential customer interest through face-to-face conversations and online tools.

Management Prowess

The ability of a management team to successfully launch a business, including their passion and market understanding.

Resource Sufficiency

The evaluation of whether an entrepreneur has enough resources to meet the needs of launching the business.

Industry Attractiveness

Characteristics that make an industry appealing for business, such as growth potential and low competition.

Target Market Attractiveness

The evaluation of whether a specific market segment is large enough to support a business but small enough to avoid larger competitors.

First Screen Template

A tool used in the initial assessment of the feasibility of a business idea to determine if further action is warranted.

Critical Resources

Essential non-financial resources identified as necessary for the successful launch of a business.