Introduction"A feasibility analysis is a chance to open your eyes, ask yourself some very tough...

Question

Introduction"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,...

Introduction

"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.)" (1).

Overview

With this assignment, you will be addressing the fundamental question: Does this business have profit potential?

Instructions

Refer to the same business you described in the first assignment, Creating a Small Business, and write a 3–4 page paper in which you:

Conduct a feasibility analysis by researching and analyzing each of the following topics and indicate how your business occupies that specific space:
- Industry and market feasibility.
- Product or service feasibility.
- Financial feasibility.
- Entrepreneurial readiness.

Explain whether the business idea needs to be modified, changed significantly, or abandoned based on your feasibility analysis. (Note:If you abandon the business idea, then you will need to select and analyze a new business that has profit potential.)

Include at least two references outside the textbook. For help with research, writing, and citation, access theStrayer Libraryor review the
Bachelor of Business Administration Library Guide
.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.

The specific course learning outcome associated with this assignment is:

Conduct a feasibility analysis to determine whether a business plan is plausible.

Sources

Norman M. Scarborough. 2015. Entrepreneurship and Effective Small Business Management. p. 237.

week-4-assignmentkaylin-carterbus402-b2zixxla.docx

Answered 1 days AfterNov 12, 2022

Asif · Accepted Answer

7
Feasibility Analysis of Business
Submission Date:
Student ID: 
Table of Contents
Introduction	3
Industry and market feasibility	3
Product or service feasibility	4
Financial feasibility	5
Entrepreneurial readiness	5
Result of feasibility analysis	6
Conclusion	6
References	7
Introduction
The assignment is aimed at providing a feasibility test for a new business named "Explore world 3D" which is aimed to be started in the United States. The feasibility of the market and industry, service, and financial factors is provided. Moreover, entrepreneurial readiness is also analyzed. 
Industry and market feasibility
Industry and market feasibility is conducted for analyzing the appeal of the tourism industry and the target market outside and inside the United States. The Tourism industry in the United States is highly feasible. The industry is growing at a rapid speed and recently it has generated 1.9 trillion US dollars as the economic output. Moreover, the market is also highly feasible as it provides 9.5 million jobs to Americans. The citizens in the country are currently highly invested in obtaining knowledge regarding great deals on carriers, rental vehicles, and hotels (Aratuo et al., 2019). Thus, it provides a higher level of opportunity for "Explore world 3D". Moreover, it can be seen that in the US the tourism industry is also focusing on bringing sustainability in their procedures for boosting the local economies and providing tourists with higher levels of satisfaction. Thus, if the business can meet these goals then it has a high chance of sustaining itself in the market for a long and obtaining a higher level of profits from the market. However, there are few competitors in the market which need to be handled carefully by the business for obtaining a competitive advantage.  
Figure: Plots of real GDP, tourist arrivals, and real effective exchange rates of the USA, January 1996- March 2016
(Source: Aratuo et al.,

Introduction"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,...

Introduction

Overview

Instructions

Sources

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