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:

Billboard

A large outdoor board for displaying advertisements, typically found alongside busy roads and high-traffic areas.

Candidate

An individual who is considered for a particular position or role, often in elections, job positions, or other competitive environments.

Foot-In-The-Door Technique

A compliance strategy that involves getting a person to agree to a small request to increase the likelihood of agreeing to a larger request later.

Persuasion

The process by which a person's attitudes, beliefs, or behaviors are influenced by communications from others.