Before preparing a business plan it is important to examine the viability of a proposed venture idea.To do this it is good practice to complete a(n)________.

Question

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A feasibility study is the most appropriate tool for examining the viability of a proposed venture idea. It allows an entrepreneur to assess potential risks, costs, benefits, and market potential before investing time and resources into creating a business plan. While a strategic plan, economic impact study, and demographic study are useful in different contexts, they do not provide the same level of detailed analysis as a feasibility study.

Before Preparing a Business Plan It Is Important to Examine