You are a management consultant specializing in business planning for new ventures. You are meeting with a group of four investors who want you to develop a business plan for their new bio-diesel company. You tell them that the full business plan is really the second step. The first step is to complete a __________________, which will eventually form the basis of the business plan.

Question

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The best answer is a feasibility study, as it is the first step in evaluating the viability and potential success of a new venture or business idea. This study will examine the technical, financial, and market aspects of the proposed bio-diesel company and assess its potential for success. The results of the feasibility study will then form the basis of the strategic and business planning process.

You Are a Management Consultant Specializing in Business Planning for New