Dwayne is 24 years old and has a degree in horticulture. He loves plants and wants to specialize in what he calls Optimum-Eco landscape design for condominium developments and office complexes. Optimum-Eco focuses on implementing a landscape that relies solely on local weather conditions, with less than 10 percent watering on top of natural rainfall. It also means that the plants, shrubs, grasses, and flowers that are planted are easily managed using a silent-gardening approach (i.e., no power tools), which supports living and working in a quieter environment.
Dwayne smiles when people call him a plant geek! Where he is stuck is how to get the business off the ground. You are a friend of Dwayne's and understand what has to be done before a business gets launched. You tell him that he needs to articulate his idea clearly, on paper. He then needs to complete a feasibility study.
In a short essay, describe what a feasibility study is. What are the key elements of a feasibility study? What is a value proposition? What are six questions that can be asked and answered by the study? Using the mini case above, provide two examples of how a feasibility study can assist Dwayne.
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