Sunday, December 21, 2014
Business Ideas - Feasibility Analysis
Every manager must come out with business ideas every year. He has to assure himself and his department colleagues that there is sufficient business for them in the coming year. It means business and management students have to learn how to identify business opportunities and do feasibility analysis.
A business is to be assessed from many angles for its feasibility.
Production or Complete product outsourcing
Component and raw material supplies
Government or regulatory acceptance
Business model - Adequate revenue and profit
Financial feasibility - Bank and Equity Finance
Management Viability - Can the existing management manage the business?