Describe the purpose of feasibility analysis. When should a ...

[Frost2351]

Describe the purpose of feasibility analysis. When should a feasibility analysis be conducted relative to opportunity recognition and the development of a business plan?
 
  What will be an ideal response?

Question 2

Manvel Enterprises is implementing a differentiation strategy. Manvel will most likely:
 
  A) supervise its staff employees very closely.
  B) design a product for easy manufacture.
  C) strive for low-cost production.
  D) create a unique product.

[sailorcrescent]

Answer to Question 1

Feasibility analysis is the process of determining if a business idea is viable. As a preliminary evaluation of a business idea, a feasibility analysis is completed to determine if an idea is worth pursuing and to screen ideas before spending resources on them. Feasibility analysis follows the opportunity recognition stage but comes before the development of a business plan.

Answer to Question 2

Answer: D