Which of the following is a true statement about feasibility studies:

They are used by businesses in every industry

To be feasible, your venture must

fulfill a need for the target market.

At the end of a feasibility study, owners/managers may decide to

postpone the venture until a later time.

The organizational section of a feasibility study may include

biographical information about owners/managers.

Feasibility studies can help owners/managers to determine

the best time to start a project or venture

The end goal of a feasibility study is to

allow owners/managers to make a sound decision about the venture.

The first step in determining financials for a feasibility study is to

create a budget for start-up costs.

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

presenting the study to the appropriate audience.

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Entrepreneurship I - Unit 2.00 (2)

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Questions 20

Answers

1
The technical or logistical section of the feasibility study includes information about
potential profitability.
where the work will happen.
what the target market wants.
chain of command.
2
Which of the following is a true statement about feasibility studies:
They are not useful for nonprofit organizations
They are inexpensive to conduct
They are used by businesses in every industry
They are especially important for government projects
3
To be feasible, your venture must
be innovative.
serve the greater public good.
create a new or improved product.
fulfill a need for the target market.
4
The final task in the financial section of a feasibility study is performing a(n)
annual review.
estimate of revenues.
profitability analysis.
organizational assessment.
5
A business’s computer networking requirements would be listed in which section of a feasibility study:
Technical
Financial
Marketing
Organizational
6
Hiring a professional to conduct your feasibility study can
be very inexpensive
reduce bias
create demand
guarantee profit
7
At the end of a feasibility study, owners/managers may decide to
run the study a second time.
switch industries.
postpone the venture until a later time.
pass the results along to competitors.
8
A well-executed feasibility study
doesn’t exceed three pages.
tells owners/managers what decision to make.
is rigid in its scope.
is articulate.
9
Owners/Managers should not conduct a feasibility study if they are
unsure about the idea.
certain the idea is feasible.
considering a business expansion.
not ready to start the venture.
10
Which is a method for gathering data from potential customers during the market analysis portion of a feasibility study:
Social media surveys
Research and development
Profitability analysis
SWOT analysis
11
A business’s chain of command can be found in its
technical needs section.
market analysis.
project description.
organizational chart.
12
The organizational section of a feasibility study may include
a list of computer software requirements.
a brief description of the proposed project.
biographical information about owners/managers.
a recommendation of whether or not to proceed with the venture.
13
Feasibility studies can help owners/managers to determine
where to find good prices on raw materials
the best place to recruit new employees
what their competitors will do.
the best time to start a project or venture
14
The financial section of a feasibility study must include sources of
funding
staffing
materials
technology
15
The end goal of a feasibility study is to
allow owners/managers to make a sound decision about the venture.
determine the best marketing tactics for the venture
convince investors to commit money to the venture
ensure that competitors cannot steal the idea for the venture
16
Which of the following is a reason to conduct a feasibility study:
Hiring a new employee
Ordering office supplies
Choosing an advertising slogan
Considering a new product idea
17
The written description of your proposed venture should be
detailed.
as short as possible.
completed at the end of the study.
persuasive.
18
The first step in determining financials for a feasibility study is to
estimate expected revenue.
estimate operating expenses.
list all sources of funding.
create a budget for start-up costs.
19
A feasibility study can form a solid foundation for which of the following business documents:
Income statement
Annual sales report
Business plan
Balance sheet
20
The final step in the process of conducting a feasibility study is
reviewing your work carefully.
writing a brief description of the project.
assessing technical needs.
presenting the study to the appropriate audience.

Entrepreneurship I - Unit 2.00 (2) Flashcards | StudBud