The process of determining whether an entrepreneur's idea is a viable foundation for creating a successful business is known as a(n)________.
A)business plan
B)strategic analysis
C)industry analysis
D)feasibility analysis

Question

Quizplus · Accepted Answer

Feasibility analysis is the process of determining the viability of an entrepreneur's idea to serve as a foundation for creating a successful business. This analysis includes evaluating various factors such as market demand, competition, financial feasibility, legal requirements, and other relevant aspects of the business idea. A business plan is a comprehensive document that outlines the operations, strategies, and objectives of the proposed business. A strategic analysis is a review of an organization's competitive position and development of strategies based on that analysis. An industry analysis is a study of a particular industry's characteristics, including market size, growth prospects, and trends.

The Process of Determining Whether an Entrepreneur's Idea Is a Viable