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

Question

Quizplus · Accepted Answer

Feasibility analysis is the process of evaluating the feasibility of an entrepreneur's idea or concept for starting a business. It involves analyzing various factors such as market demand, competition, financial resources, and legal requirements to determine whether the business idea is practical, achievable and profitable. This analysis helps entrepreneurs to make informed decisions about whether to move forward with their business idea or make necessary changes to increase the chances of success.

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