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.)” (Abrams, as cited in Scarborough & Cornwall, 2015, p. 237).
With this assignment, you will be addressing the fundamental question: Does this business have profit potential?
Referring to the same business you either started or purchased in the first assignment, write a three to four (3-4) page paper in which you:
- Conduct a feasibility analysis in which you research:
- Industry and Market Feasibility
- Product or Service Feasibility
- Financial Feasibility
- Entrepreneurial Readiness
2. Based on your assessment, does the business idea need to be modified, changed significantly, or abandoned? (Note: If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.
3.Include at least two (2) references outside the textbook.
The specific course learning outcomes associated with this assignment are:
- Describe and analyze the necessary activities and key decisions to start a small business.
- Use technology and information resources to research issues in small business management.
- Write clearly and concisely about small business management using proper writing mechanics.