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Kap3primerentrepreneuruka

Kap3primerentrepreneuruka - Chapter3 Feasibilty Analysis...

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1 A primer in Entrepreneurship Chapter 3 – Feasibilty Analysis Prof. Dr. Ulrich Kaiser Institute for Strategy and Business Economics University of Zurich Fall semester 2008 Chapter 3: Feasibility Analysis A. What is “feasibility analysis”? B. Product/Service Feasibility / Table of Contents C. Industry/Market Feasibility D. Organizational Feasibility E. Financial Feasibility University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Fall semester 2008 2
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2 I. Feasibility Analysis 1. Feasibility analysis is the process of determining if a business idea is viable. A. What is “feasibility analysis”? 2. It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing. 3. Feasibility analysis takes the guesswork (to a certain degree) out of a business launch, and provides an entrepreneur with a more secure notion that a business idea is feasible or viable. University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Fall semester 2008 3 I. Feasibility Analysis Timing of feasibility analysis: A. What is “feasibility analysis”? It follows the opportunity recognition stage and comes before the development of a business plan Î see next figure University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Fall semester 2008 4
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3 I. Feasibility Analysis A. What is “feasibility analysis”? University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Fall semester 2008 5 a. Although the sequence pictured makes perfect sense, statistics show that the majority of entrepreneurs do not follow this pattern before I. Feasibility Analysis A. What is “feasibility analysis”? launching their ventures. b. Several studies have investigated why this is the case. The consensus of the research is that entrepreneurs tend to underestimate the amount of competition there will be in the marketplace and tend to overestimate their personal chances for success. c. Before a company undertakes a feasibility analysis, a concept statement should be developed. University of Zurich ISU – Institute for Strategy and Business Economics Ulrich Kaiser A primer in Entrepreneurship Fall semester 2008 6
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