INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What are the opportunity costs of this project?
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What technology will be needed for this project?
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Should we proceed with this project?
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Is this business plan valid?
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Detailed explanation-1: -The feasibility study provides an investigating function. It addresses the question of “Is this a viable business venture?” The business plan provides a planning function.
Detailed explanation-2: -What is the Primary Purpose of Conducting a Feasibility Analysis? The objective of feasibility study is to assess the financial viability of developed plan and whether it will be successful or not.
Detailed explanation-3: -A feasibility study-sometimes called a feasibility analysis or feasibility report-is a way to evaluate whether or not a project plan could be successful. A feasibility study evaluates the practicality of your project plan in order to judge whether or not you’re able to move forward with the project.