"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.)" (1).
With this assignment, you will be addressing the fundamental question: Does this business have profit potential?
Refer to the same business you described in the first assignment, Creating a Small Business, and write a 3–4 page paper in which you:
- Conduct a feasibility analysis by researching and analyzing each of the following topics and indicate how your business occupies that specific space:
- Industry and market feasibility.
- Product or service feasibility.
- Financial feasibility.
- Entrepreneurial readiness.
- 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.)
- Include at least two references outside the textbook. For help with research, writing, and citation, access the Strayer Library or review the Bachelor of Business Administration Library Guide.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
- Conduct a feasibility analysis to determine whether a business plan is plausible.
- Norman M. Scarborough. 2015. Entrepreneurship and Effective Small Business Management. p. 237.