LESSON – five FEASIBILITY RESEARCH, PROJECT STATEMENT AND STRATEGY Dr . Anand Saxena, Seema Sodhi
Introduction Aims Feasibility Research 5. 2 . 1 Marketplace Analysis your five. 2 . a couple of Financial Evaluation 5. 2 . 3 Technical Analysis 5. installment payments on your 4 Monetary Analysis a few. 2 . five Ecological Evaluation 5. 2 . 6 Legal and Management Analysis your five. 3 Job Report your five. 4 Subscription 5. 5 Business Plan a few. 5. 1 Need five. 5. 2 Contents your five. 6 Simple Startup Concerns 5. six Summary your five. 8 Glossary 5. on the lookout for Self Evaluation Questions a few. 10 Further more Readings five. 0 five. 1 your five. 2
5. 0 INTRODUCTION
The process of making a business is usually preceded by the decision to pick entrepreneurship as a career and identification of promising businesses upon a careful examination of the pioneeringup-and-coming opportunities. Generation of ideas is too few; the business suggestions must stand the scrutiny from techno-economic, financial and legal perspectives. That is, following your initial screening process of the suggestions that do not really seem promising prima facie, you should perform an specific examination of the chosen three-four before deciding for normally the one where you would want to exert your time, money and energies. You must prepare a business plan that will serve as the road map for powerful venturing, if you may need institutional financing (in which usually case it is necessary to do so) or certainly not. Setting up of new business enterprises is a very challenging activity; you are likely to encounter many challenges en route. It can advisable to understand these concerns as to forewarn means to fore arm!
5. you OBJECTIVES
Following going through this kind of lesson you need to be able to • Conduct a feasibility analysis of the proposed business ideas in regard to Marketability Specialized viability Financing Legalities • • Prepare a business plan Understand basic startup problems.
a few. 2 PROJECT FEASIBILITY ANALYZE
Feasibility actually means whether some thought will work or perhaps not. That knows before hand whether we have a sizeable industry for the proposed product/service, what is the investment requirements and where to get the funding from, whether and wherefrom the necessary technical know-how to convert the idea into a touchable product might be available, etc. In other words, feasibility study entails an study of the businesses, financial, HUMAN RESOURCES and promoting aspects of a business on former mate ante (Before the enterprise comes into existence) basis. Therefore, you may at the same time read this lesson and the lessons on marketing, finance etc . to have a better idea of the difficulties involved. What we present hereunder is a simple outline in the issues impinging upon the different aspects of the feasibility of the proposed task. By now, you would have recognized that feasibility is a multivariate concept; that is, a project has to be viable not only in technical terms yet also in economic and commercial terms too. Additionally, there always is a likelihood that a job that is officially possible will not be economically feasible. For instance, you can construct a dust totally free factory in Rajasthan, but it is more financially sensible to accomplish this in Chandigarh/ Bangalore. And so even as we take up the several aspects of feasibility oneby-one, it must not deceived into assuming that there is a sequence and that you will discover no interdependencies. Examination of the feasibility needs skills that you may fall short of. You may take those help of the Technical Agency Organisations (TCOs) such as HARDICON (Haryana-Delhi Professional Consultancy Organisation) towards this kind of purpose. You will find district-wise commercial potential online surveys available with the SISIs and DICs which may serve as a good starting point. You may also make use of the Project Reports published by the directorate of companies and private talking to firms. Certainly, as you employ these off-the- shelf job reports, it is advisable to re-validate their very own assumptions and findings and resist the temptation of jump-starting. If you use the already published project reports or perhaps wish to commence afresh, it is advisable to...
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