ENTREPRENEURIAL PLANNING
BUSINESS PLAN DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The process used to test a business concept is called a ____
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feasibility analysis
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consumer trend
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focus group
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value chain
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Explanation:
Detailed explanation-1: -Feasibility analysis involves assessing your new business idea in detail to determine if it will be viable. This can build on any initial research you’ve already done.
Detailed explanation-2: -A feasibility study is simply an assessment of the practicality of a proposed project plan or method. This is done by analyzing technical, economic, legal, operational and time feasibility factors.
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