Chapter 3

Question 1

3.1 _______ is the process of determining the viability of a business idea.

Answer 1

Feasibility analysis

Question 2

3.2 Which of the following is NOT part of a feasibility analysis?

Prototype feasibility, Product/service feasibility, Industry/target market feasibility, Organizational feasibility, Financial feasibility

Answer 2

Prototype feasibility

Question 3

3.3 Management prowess and resource sufficiency are part of the _______ feasibility

Answer 3

organizational

Question 4

3.4 A _______ is a preliminary description of a product/service idea provided to prospective customers and industry experts to solicit their feedback.

Answer 4

concept statement

Question 5

3.5 The portion of the industry that a firm goes after or to which it wants to appeal is a firm’s _______.

Answer 5

target market

Question 6

3.7 What are the two primary issues to consider in an organizational feasibility analysis?

Answer 6

Management prowess and resource sufficiency

Question 7

3.10 The template for completing a feasibility analysis is called _______.

Answer 7

First Screen