11. A feasibility analysis is the process of determining if a business idea is viable. The feasibility analysis step, along with the idea screening step, is

Group of answer choices

(a) Investigative in nature and is designed to critically assess the merits of a business idea before producing a business plan.

(b) Exploratory in nature and is designed to critically assess the weaknesses of a business idea before producing a business plan.

(c) Probing in nature and is designed to critically assess the loopholes of a business idea before producing a business plan.

(d) Tentative in nature and is designed to critically assess the downsides of a business idea before producing a business plan.

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Question 122 pts

Primary and secondary research is needed for a complete feasibility analysis.

Group of answer choices

(a) Secondary research is collected by the individual conducting the analysis, whereas primary research probes data that has already been collected.

(b) Primary research is collected by the individual conducting the analysis, whereas secondary research probes data that has already been collected.

(c) Individual research is collected by the individual conducting the analysis, whereas internet research probes data that has already been collected.

(d) World Wide Web research is collected by the individual conducting the analysis, whereas library research probes data that has already been collected.

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Question 132 pts

A concept test involves showing:

Group of answer choices

(a) An approved description of a product or service idea, called a concept statement, to existing businesses of a similar product or service to solicit their feedback.

(b) A preliminary description of a product or service idea, called a concept statement, to industry experts and prospective customers to solicit their feedback.

(c) A proven description of a product or service idea, called a concept statement, to directors of business incubators to solicit their feedback.

(d) An unproven description of a product or service idea, called a concept statement, to undergraduate and graduate school of business students to solicit their feedback.

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Question 142 pts

Industry/target market feasibility is an assessment of the overall appeal of the industry and market for the product or service being proposed. Its three components are:

Group of answer choices

(a) Return on investment attractiveness, product/service attractiveness, and market timeliness.

(b) Management team attractiveness, target market attractiveness, and market timeliness.

(c) Financial projections attractiveness, target market attractiveness, and market timeliness.

(d) Industry attractiveness, target market attractiveness, and market timeliness.

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Question 152 pts

The two components of organizational feasibility are management prowess and (non-financial) resource sufficiency. Organizational feasibility analysis is conducted to determine whether a proposed business has:

Group of answer choices

(a) Sufficient financial expertise, organizational competence, and resources to successfully launch its business.

(b) Sufficient operational expertise, peoples competence, and resources to successfully launch its business.

(c) Sufficient management expertise, organizational competence, and resources to successfully launch its business.

(d) Sufficient product or service development expertise, managerial competence, and resources to successfully launch its business.