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Business Feasibility Study: A Way to Achieve Great Success in New Markets

Business feasibility study is conducted to determine viability of planned project or business undertaking. It scrutinizes the economic, technical, operational, and legal aspects of the project, identifies weaknesses & strengths, and predicts related profits/losses.

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Business Feasibility Study: A Way to Achieve Great Success in New Markets

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  1. Businessfeasibilitystudyisconductedto determineviabilityofplannedprojectorbusiness undertaking. Itscrutinizestheeconomic,technical,operational, and legal aspects of the project, identifies weaknesses & strengths, and predicts related profits/losses. Thestudyisalwaysrecommendedforabusiness that is planning a new initiative, as it identifies potential risks and helps avoid costly errors. The objectivityofstudyalsohelpsattractinvestors.

  2. A BUSINESS FEASIBILITY STUDY IDENTIFIES THESE RISKSINADVANCE,ENABLINGORGANIZATIONSTO PLANCONTINGENCYSTRATEGIESTOMITIGATETHEM Strategicrisk– Strategic risk is a risk that an incorrect business decision may pose to an organization.Anyprojectthatcouldnegativelyimpactbusinessreputation, goodwill, and culture or prove destructive to the company’s environment mustbeavoided.Abusinessfeasibilitystudyhelpsensurethattheproject’s objective is aligned with the company’s long-term corporate goal and has thepotentialtoboosttheorganization’soverallgrowth.

  3. Operationalrisk– Risks that may impact the project’s daily operations, such as manpower issues, supply chain disruptions, and technical hurdles, can be identified throughafeasibilitystudy.Thebusinessisthusmadeawareaboutproblem areasandcanplanpreventivesteps. Financialrisk– Thestudyanalysesthefinancialstructureoftheprojectindetail.Theinitial investment,overheads,costofdelay,fundsforcrises,andgestationperiod areprojectedandevaluated.Theproposedprojectshouldbeprofitablefor thecompany,andthefinancialanalysishelpsconfirmthis.

  4. Compliancerisk– Anyproposedorganizationalprojectisrequiredtocomplywiththerules, regulations,andlegalitiesofthestateorcountryitisoperatingin. A business feasibility study identifies the code of conduct that needs to be followedandalsodefinestheconsequencesofnoncompliance,suchaslegal penaltiesandloss. Effectivemanagementofcomplianceriskensuresthatprojectoperations areundertakeninaccordancewithindustryregulations.

  5. IMPORTANCEOFA BUSINESS FEASIBILITYSTUDY The importance of a business feasibility study cannot be undermined,asitenablesoptimum utilization of resources, time, and finance. Itmayalsoofferinsightsand perspectivesthatcouldchangethe scope of the project and help discoverabetteralternative.

  6. THANK YOU Welookforwardtoworking withyou REACHUSONSOCIALMEDIA https://www.linkedin.com/company/aranca https://www.instagram.com/aranca_inc/ https://www.facebook.com/ArancaResearch harveen.gandhi@aranca.com https://www.aranca.com/

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