Describe the Purpose of Feasibility Analysis

question 42

Essay

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

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Definitions:

Prepotent Levels

Dominant or primary stages in a hierarchy of needs or motivations, often compelling an individual to act to fulfill them before addressing less critical needs.

Equity Theory

A theory of motivation that suggests employees are motivated to achieve equity or fairness in the workplace, particularly in relation to others.

Motivation

The process that initiates, guides, and maintains goal-oriented behaviors, driving individuals to pursue and achieve objectives.

Need-Based Theory

A motivational theory suggesting that behavior is driven by an individual's desire to fulfill unmet needs, ranging from basic survival needs to complex psychological needs.