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Advances in technology that may make it easier for you to make or sell your product or improve on itThreatsThese are the opposites of opportunities, such as:Stiff competition in your target market and geographic areaThe business is located in an area that's hard for customers to reach or in an area the public doesn't feel "safe" visitingChanges in the law that may make it more costly to do business, such as new environmental or zoning lawsChanges in your target market. For example, what might happen to your office supply business if suddenly numerous companies in your area plan to shut down or move to another city or county where they won't be taxed as much?METHODOLOGYThe next thing to do after understanding the target market is to plot the team’s methodology.Methodology is defined as a system of methods used in a particular area of study or activity. Methodology is one of the essentials in conducting a feasibility study, because through an appropriate methodology we can get important data for our study that will be useful in the later part of the study such as:Costs in operating the businessStrategies applicable to the businessCompetitorsDemandSupplyMarket One of the essential thing to know in plotting the methodology is knowing the sample.Samplesare used in statistical testing when population sizes are too large for the test to include all possible members or observations. Samples are used because in reality there is simply5 | P a g e
not enough; time, energy, money, man power, equipment, access to suitable sites to measure every single item or site within the parent population or whole sampling frame.Therefore an appropriate sampling strategy is adopted to obtain a representative, and statistically valid sample of the whole. Commonly used sampling in feasibility study is stratified sampling.Sample Size Determination-is the act of choosing the number of observations or replicates to include in a statisticalsample. Thesample sizeis an important feature of any empirical study in which the goal is to make inferences about a population from asample.Example:To determine the sample size, the researchers made a survey on the projected location on the business. This study will serve the guide to determination the percentage of units of paper perream demanded the invitation printing enterprises along Recto, Manila.To have a good reasonable survey data, the researchers used the Sloven’s formula:n=N/(1+N (e2)] in determining the number respondentsSloven’s formula: n=N/(1+N (e2)]Where N= total number of qualified respondents e= margin of error, 5%n= number of respondentsSolution:n=N/(1+N (e2)]=58/(1+57(.052)]=58/ 1.1425n=50.65502183 or 50The 50 respondents represent the 58 population of invitation printing enterprises along C. M Recto Avenue, Manila. They were asked to answer the survey questionnaire as part of the research. The data collected is the basis in verifying the demand of Karton Network within the area.