INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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guarantee profit.
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be very inexpensive.
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reduce bias.
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create demand.
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Detailed explanation-1: -If you plan to do a feasibility study, you will want to strongly consider hiring a consultant to conduct the study. Names of business consultants are contained in Directory of Consultants and Service Providers (http://www.agmrc.org/agmrc/provider search.asp).
Detailed explanation-2: -All business endeavors pose some level of risk. Feasibility studies examine potential risks to determine whether they’re worth taking. A comprehensive feasibility study can distinguish real economic opportunities from investments that could fail.
Detailed explanation-3: -What Is the Main Objective of a Feasibility Study? A feasibility study is designed to help decision-makers determine whether or not a proposed project or investment is likely to be successful. It identifies both the known costs and the expected benefits.
Detailed explanation-4: -This early investigation or pre-feasibility analysis can be done by members of your committee or with the help of a consultant. You may start by doing a marketing study to determine if the business idea has market viability.