Mike wants to start his own laundry service. However, he intends to first study the market and consider factors like who his competitors are, how they function, their market shares, how he can attract prospective customers, etc., before he decides whether his plan is viable. Mike is engaging in ________.
A) benchmarking
B) entrepreneurial risk management
C) feasibility analysis
D) exploitation
E) angel investing

Question

Quizplus · Accepted Answer

Mike is engaging in feasibility analysis, which involves assessing the viability and potential success of a business idea by examining factors like competition, market share, and customer demand.

Mike Wants to Start His Own Laundry Service