Feasibility studies primarily assess:Group of answer choicesEmployee satisfactionThe practical viability of a business ideaThe current market leader's strategyPersonal interests of the entrepreneur

Why should an entrepreneur do a feasibility study before starting a new venture?*1 pointTo identify possible sources of fundsTo see if there are possible barriers to successTo estimate the expected salesTo explore potential customers

The importance of feasibility study cannot be overemphasized as it          *1 pointprovides comprehensive details about the business to determine if, and how it can succeed, and serve as a valuable tool for developing a good business plandoes not list in details all the things you need to make the business works.does not identify logistical and other business related problems and solutions.does not serve as a solid foundation for developing your business plan.

What is the purpose of business?Group of answer choicesBusiness ConceptFinancial PlanPre-start up implementationProduct-Market Study

Effectual entrepreneurs typically:Question 16Answera.embrace uncertainty and ambiguityb.seek external validation before taking actionc.collaborate with established competitorsd.set rigid goals and milestones

When an entrepreneur engages in business analysis, s/he takes into account all of these factors except: a) Feasibility of the idea b) Preferred lifestyle c) Marshalling resources d) Planning the business