Homework: Feasibility Analysis- Small Business Management
Introduction
"A feasibility analysis is a chance to open your eyes, ask yourself some very tough questions, then check to see whether your idea, as originally conceived, needs to be modified, refocused, or changed dramatically. (Or perhaps even scrapped altogether.)".
Overview
With this homework, you will be addressing the fundamental question: Does this business have profit potential?
Instructions
Refer to the same business you described in the first homework, Creating a Small Business, and write 3 to 4 pages paper in which you:
A. Conduct a feasibility analysis by researching and analyzing each of the following topics and indicate how your business occupies that specific space:
a. Industry and market feasibility.
b. Product or service feasibility.
c. Financial feasibility.
d. Entrepreneurial readiness.
B. Explain whether the business idea needs to be modified, changed significantly, or abandoned based on your feasibility analysis. (Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.)
Format your homework according to the give formatting requirements:
a. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
b. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
c. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.
The specific course learning outcome associated with this homework is:
a. Conduct a feasibility analysis to determine whether a business plan is plausible.
Reference
a. Norman M. Scarborough. 2015. Entrepreneurship and Effective Small Business Management. p. 237.