Refer to the scenario below to answer the following questions.
A New Subsidiary (Scenario)
Philip works for a large multinational corporation with offices in 23 countries, 64,000 employees worldwide, and $8 billion in annual sales. The company was involved in several different industries: automotive parts, rapid transit systems, and recreational vehicles. Philip is the executive vice-president of new technology ventures.
Philip wants you to investigate and potentially launch a business focusing on alternative energy systems. The first area you are to explore is the potential business opportunity of ocean tidal energy. You are to explore what technology already exists that can be exploited, what additional technology development is needed, and figure out the viability of the tidal energy as an entrepreneurial venture.
-When Philip asks you to look at the potential viability of the business opportunity of tidal energy, he is really asking you to complete a ______________.

Question

Quizplus · Accepted Answer

Philip is asking for an investigation of the potential business opportunity of ocean tidal energy, which involves exploring technology, development, and viability. This aligns with the purpose of a feasibility study, which is to assess the potential for success of a proposed project or venture. A commercialization study typically focuses on the process of bringing a product or service to market, while a business plan is a comprehensive document outlining the strategy, goals, and financial projections of a business. A research and development plan specifically focuses on the development of new technology or products. An applied theory study is a more general term that could apply to a variety of academic or research pursuits.

Refer to the Scenario Below to Answer the Following Questions