2.03 & 2.04 Entrepreneurship

Front

Which of the following is a reason to conduct a feasibility study: Considering a new product idea, Ordering office supplies, Hiring a new employee, Choosing an advertising slogan

Back

Considering a new product idea

Front

Which of the following is a true statement about feasibility studies: They are inexpensive to conduct. They are especially important for government projects. They are used by businesses in every industry. They are not useful for nonprofit organizations.

Back

They are used by businesses in every industry.

Front

The end goal of a feasibility study is to

Back

allow owners/managers to make a sound decision about the venture.

Front

Feasibility studies can help owners/managers to determine the best time to start a project or venture.

Back

the best time to start a project or venture.

Front

Owners/Managers should not conduct a feasibility study if they are certain the idea is feasible.

Back

certain the idea is feasible.

Front

The written description of your proposed venture should be

Back

detailed.

Front

The first step in determining financials for a feasibility study is to

Back

create a budget for start-up costs.

Front

Environmental Scanning has a 3 step process: 1. Gather Information 2. Analyze 3. ?

Back

Determine the Future

Front

What can a business control internally? Options: Finances, Competition, Government, Technology

Back

Finances

Front

Externally business can not control and what is that?

Back

Government