Claire needs to determine the feasibility of a new venture idea. What are three factors that Claire should consider when conducting her feasibility study?

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asked Sep 9, 2024 219k views

1 Answer

Dean Wild · Answer 1 · 2024-09-16T11:57:39+0000

Claire should consider market demand, operational feasibility, and financial viability when conducting a feasibility study for her new venture idea.

When conducting a feasibility study for a new venture idea, Claire should consider three factors:

Market demand: Claire needs to assess whether there is a market for her product or service. She should analyze the target market, competition, and potential demand.
Operational feasibility: Claire should evaluate the resources and capabilities needed to bring her idea to life. This includes assessing the technical feasibility, availability of resources, and expertise required.
Financial viability: Claire must determine the financial feasibility of her idea. This involves analyzing the potential costs, revenues, and profitability of the venture.