Question 1

The focus in organizational feasibility analysis is on ________.

Accepted Answer

A)  financial resources for manufacturing firms and nonfinancial resources for service firms 
B)  financial resources for service firms and nonfinancial resources for manufacturing firms 
C)  nonfinancial and financial resources equally 
D)  nonfinancial resources 
E)  financial resources 
A)  financial resources for manufacturing firms and nonfinancial resources for service firms 
B)  financial resources for service firms and nonfinancial resources for manufacturing firms 
C)  nonfinancial and financial resources equally 
D)  nonfinancial resources 
E)  financial resources

Question 2

The First Screen feasibility analysis template included in Chapter 3 is called "First Screen" because ________.

Accepted Answer

A)  it is the first feasibility analysis template created 
B)  it is the first and most important step in the opportunity recognition process 
C)  it is the first step in a sequence of several steps that must be completed before a business idea is deemed to be feasible 
D)  feasibility analysis is an entrepreneur's initial or first pass at determining the feasibility of a business idea 
E)  it is the first of several "screens" that a business idea must pass through before it is considered to be feasible 
A)  it is the first feasibility analysis template created 
B)  it is the first and most important step in the opportunity recognition process 
C)  it is the first step in a sequence of several steps that must be completed before a business idea is deemed to be feasible 
D)  feasibility analysis is an entrepreneur's initial or first pass at determining the feasibility of a business idea 
E)  it is the first of several "screens" that a business idea must pass through before it is considered to be feasible

Question 3

For financial feasibility analysis, a very detailed and comprehensive financial analysis is required.

Accepted Answer

A) True 
 B)False

Question 4

Briefly describe the purpose of the First Screen and how it's used.

Accepted Answer

The First Screen is a template for compl

Question 5

Organizational feasibility analysis is conducted to determine whether a proposed business venture has sufficient management expertise, organizational competence, and resources to successfully launch its business.

Accepted Answer

A) True 
 B)False

Question 6

Describe the purpose of industry/target market feasibility analysis, and identify the two primary issues that should be considered. What is the difference between a firm's industry and its target market?

Accepted Answer

Industry/market feasibility analysis is

Question 7

Cynthia Jones recently surveyed 200 of her classmates to get a sense of the demand for a new software product she is working on. Collecting data via a survey you administer yourself is referred to as ________ research.

Accepted Answer

A)  direct 
B)  derivative 
C)  primary 
D)  secondary 
E)  initial 
A)  direct 
B)  derivative 
C)  primary 
D)  secondary 
E)  initial

Question 8

A new venture team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

Accepted Answer

A) True 
 B)False

Question 9

In regard to management prowess, two of the most important factors in this area are the passion that the solo entrepreneur or the management team has for the business idea and the extent to which the management team or solo entrepreneur understands the markets in which the firm will participate.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following factors is a positive as it pertains to the financial feasibility of a business venture?

Accepted Answer

A)  Inconsistent and slow growth in sales during the first five to seven years in a clearly defined market niche 
B)  High percentage of recurring revenue 
C)  Inability to forecast income and expenses with a reasonable degree of accuracy 
D)  Reliance on externally generated funds to finance and sustain growth 
E)  Absence of an existing opportunity for investors to convert equity into cash 
A)  Inconsistent and slow growth in sales during the first five to seven years in a clearly defined market niche 
B)  High percentage of recurring revenue 
C)  Inability to forecast income and expenses with a reasonable degree of accuracy 
D)  Reliance on externally generated funds to finance and sustain growth 
E)  Absence of an existing opportunity for investors to convert equity into cash

Question 11

What is gumshoe research and why is it important?

Accepted Answer

Gumshoe research is simply doing what it

Question 12

A(n) ________ team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

Accepted Answer

A)  opening 
B)  entrepreneurial 
C)  scout 
D)  launch 
E)  new venture 
A)  opening 
B)  entrepreneurial 
C)  scout 
D)  launch 
E)  new venture

Question 13

Which of the following statements about target markets is incorrect?

Accepted Answer

A)  There is a distinct difference between a firm's industry and its target market. 
B)  The challenge in identifying an attractive target market is to find a market that's large enough for the proposed business but is yet small enough to avoid attracting larger competitors. 
C)  By focusing on a target market, a firm can usually avoid head-to-head competition with industry leaders and can focus on serving a specialized market very well. 
D)  A target market is a place within a larger market segment that represents a narrower group of customers with similar needs. 
E)  It's generally easier to find good information about a target market than an industry as a whole. 
A)  There is a distinct difference between a firm's industry and its target market. 
B)  The challenge in identifying an attractive target market is to find a market that's large enough for the proposed business but is yet small enough to avoid attracting larger competitors. 
C)  By focusing on a target market, a firm can usually avoid head-to-head competition with industry leaders and can focus on serving a specialized market very well. 
D)  A target market is a place within a larger market segment that represents a narrower group of customers with similar needs. 
E)  It's generally easier to find good information about a target market than an industry as a whole.

Question 14

A ________ is a single Web page that typically provides direct sales copy, like "click here to buy a Hawaiian vacation."

Accepted Answer

A)  sales page 
B)  marketing page 
C)  destination page 
D)  call for action page 
E)  landing page 
A)  sales page 
B)  marketing page 
C)  destination page 
D)  call for action page 
E)  landing page

Question 15

Describe what a concept statement is, and what it should include.

Accepted Answer

A concept statement is a preliminary des

Question 16

Talking to industry experts, obtaining feedback from prospective customers, and administering surveys are examples of ________ research.

Accepted Answer

A)  primary 
B)  secondary 
C)  derivative 
D)  principal 
E)  fundamental 
A)  primary 
B)  secondary 
C)  derivative 
D)  principal 
E)  fundamental

Question 17

Which of the following is an example of a resource that normally would not be evaluated as part of the "resource sufficiency" stage of organizational feasibility analysis?

Accepted Answer

A)  Ability to form favorable business partnerships 
B)  Financial resources 
C)  Affordable office space 
D)  Key equipment needed to operate the business 
E)  Key support personnel 
A)  Ability to form favorable business partnerships 
B)  Financial resources 
C)  Affordable office space 
D)  Key equipment needed to operate the business 
E)  Key support personnel

Question 18

The two components of product/service feasibility analysis are ________ and ________.

Accepted Answer

A)  product/service value; product/service affordability 
B)  product/service demand; product/service timeliness 
C)  product/service timeliness; product/service value 
D)  product/service durability; product/service value 
E)  product/service desirability; product/service demand 
A)  product/service value; product/service affordability 
B)  product/service demand; product/service timeliness 
C)  product/service timeliness; product/service value 
D)  product/service durability; product/service value 
E)  product/service desirability; product/service demand

Question 19

The template for completing a feasibility analysis included in Appendix 3.1 of the book is called the ________ analysis.

Accepted Answer

A)  First Evaluation 
B)  Initial Screen 
C)  First Pass 
D)  First Screen 
E)  Flash Screen 
A)  First Evaluation 
B)  Initial Screen 
C)  First Pass 
D)  First Screen 
E)  Flash Screen

Question 20

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

Accepted Answer

Feasibility analysis is the process of d

The focus in organizational feasibility analysis is on ________.

The First Screen feasibility analysis template included in Chapter 3 is called "First Screen" because ________.

For financial feasibility analysis, a very detailed and comprehensive financial analysis is required.

Briefly describe the purpose of the First Screen and how it's used.

Organizational feasibility analysis is conducted to determine whether a proposed business venture has sufficient management expertise, organizational competence, and resources to successfully launch its business.

Describe the purpose of industry/target market feasibility analysis, and identify the two primary issues that should be considered. What is the difference between a firm's industry and its target market?

Cynthia Jones recently surveyed 200 of her classmates to get a sense of the demand for a new software product she is working on. Collecting data via a survey you administer yourself is referred to as ________ research.

A new venture team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

In regard to management prowess, two of the most important factors in this area are the passion that the solo entrepreneur or the management team has for the business idea and the extent to which the management team or solo entrepreneur understands the markets in which the firm will participate.

Which of the following factors is a positive as it pertains to the financial feasibility of a business venture?

What is gumshoe research and why is it important?

A(n) ________ team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

Which of the following statements about target markets is incorrect?

A ________ is a single Web page that typically provides direct sales copy, like "click here to buy a Hawaiian vacation."

Describe what a concept statement is, and what it should include.

Talking to industry experts, obtaining feedback from prospective customers, and administering surveys are examples of ________ research.

Which of the following is an example of a resource that normally would not be evaluated as part of the "resource sufficiency" stage of organizational feasibility analysis?

The two components of product/service feasibility analysis are and .

The template for completing a feasibility analysis included in Appendix 3.1 of the book is called the ________ analysis.

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

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Developing an Effective Business Model

Industry and Competitor Analysis

Writing a Business Plan

Preparing the Proper Ethical and Legal Foundation

Assessing a New Venture's Financial Strength and Viability

Building a New-Venture Team

Getting Financing or Funding

Unique Marketing Issues

The Importance of Intellectual Property

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters

Exam 3: Feasibility Analysis

The focus in organizational feasibility analysis is on ________.

The First Screen feasibility analysis template included in Chapter 3 is called "First Screen" because ________.

For financial feasibility analysis, a very detailed and comprehensive financial analysis is required.

Briefly describe the purpose of the First Screen and how it's used.

Organizational feasibility analysis is conducted to determine whether a proposed business venture has sufficient management expertise, organizational competence, and resources to successfully launch its business.

Describe the purpose of industry/target market feasibility analysis, and identify the two primary issues that should be considered. What is the difference between a firm's industry and its target market?

Cynthia Jones recently surveyed 200 of her classmates to get a sense of the demand for a new software product she is working on. Collecting data via a survey you administer yourself is referred to as ________ research.

A new venture team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

In regard to management prowess, two of the most important factors in this area are the passion that the solo entrepreneur or the management team has for the business idea and the extent to which the management team or solo entrepreneur understands the markets in which the firm will participate.

Which of the following factors is a positive as it pertains to the financial feasibility of a business venture?

What is gumshoe research and why is it important?

A(n) ________ team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

Which of the following statements about target markets is incorrect?

A ________ is a single Web page that typically provides direct sales copy, like "click here to buy a Hawaiian vacation."

Describe what a concept statement is, and what it should include.

Talking to industry experts, obtaining feedback from prospective customers, and administering surveys are examples of ________ research.

Which of the following is an example of a resource that normally would not be evaluated as part of the "resource sufficiency" stage of organizational feasibility analysis?

The two components of product/service feasibility analysis are ________ and ________.

The template for completing a feasibility analysis included in Appendix 3.1 of the book is called the ________ analysis.

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

Introduction to Entrepreneurship

Recognizing Opportunities and Generating Ideas

Developing an Effective Business Model

Industry and Competitor Analysis

Writing a Business Plan

Preparing the Proper Ethical and Legal Foundation

Assessing a New Venture's Financial Strength and Viability

Building a New-Venture Team

Getting Financing or Funding

Unique Marketing Issues

The Importance of Intellectual Property

Preparing for and Evaluating the Challenges of Growth

Strategies for Firm Growth

Franchising

Filters

The two components of product/service feasibility analysis are and .