Question

Claire needs to determine the feasibility of a new venture idea. What are three factors that Claire should

consider when conducting her feasibility study?

Answer 1

Claire should consider market demand, operational feasibility, and financial viability when conducting a feasibility study for her new venture idea.

Step-by-step explanation:

When conducting a feasibility study for a new venture idea, Claire should consider three factors:

1. Market demand: Claire needs to assess whether there is a market for her product or service. She should analyze the target market, competition, and potential demand.
2. Operational feasibility: Claire should evaluate the resources and capabilities needed to bring her idea to life. This includes assessing the technical feasibility, availability of resources, and expertise required.
3. Financial viability: Claire must determine the financial feasibility of her idea. This involves analyzing the potential costs, revenues, and profitability of the venture.