Lecture 1 Definition of Business Feasibility Study. Fanny Widadie, S.P, M.Agr. Education & Training . " A person who graduated, yesterday and stops studying today is uneducated tomorrow.". Fear & Wisdom. "To conquer fear is the beginning of wisdom." (Bertrand Russell).
Fanny Widadie, S.P, M.Agr
Business concepts need to be tested in the market.
Once a concept is judged feasible, a business plan will help the entrepreneur develop a strategy for executing the concept.
Rule and studying discipline
Definition and activity process
Understanding “Business Feasibility Study”
The importance of investing
The reason studying Business Feasibility
Based on William F. Sharfe,investmentis about sacrificing money now for the money in the future.
Kinds of investment :
1. real investment2. financial investment
GenerallyProjectis a kind of activity which involves many resources that are available within a particular bucket (organization) in a particular period of time to do an activity that has been assigned before or to achieve a particular goal.
Project’s activities include :
How do projects appear :
Is an activity or effort that had been done to get benefit based on a purpose and the target business that was done in order to achieve profit according to the goal and the target aimed in many aspects, whether it be quantity or time.
Profit is the main reason within a business, whether it be short term or long term.
Once you have a idea for a new business, define it by writing a clear and concise business concept.
business concepta clear and concise description of a business opportunity; it contains four elements: the product or service, the customer, the benefit, and the distribution
Section 5.1 Feasibility Analysis: Testing an Opportunity
An thorough study of an activity or a business that would be undertaken, it is done so in order to decide whether the business is feasible or not to be undertaken.
Data and information that are not sufficient
Wrong direction of work
Element of deliberateness
Fulfilling and also the accuracy of data and information taken
Specialist workers that are used are reliable and good
Selecting the right methods and measuring tool.
Loyalty from the Business Feasibility Study team
Opening geographic isolation
Increasing unity and helping the solidity of development
Increasing amount of goods and services
Increasing the product’s quality
Increase in devisa
Saving in devisa
Market & Marketing aspects