Mike wants to start his own laundry service.However,he intends to first study the market and consider factors such as who his competitors are,how they function,their market shares,and how he can attract prospective customers before he decides whether his plan is viable.Mike is engaging in ________.
A)benchmarking
B)entrepreneurial risk management
C)feasibility analysis
D)exploitation
E)angel investing

Question

Quizplus · Accepted Answer

Feasibility analysis is the process of assessing the viability of a new venture or project by analyzing various factors such as market competition, potential customer base, and overall market conditions, which is exactly what Mike is doing by studying the market and competitors before launching his laundry service.

Mike Wants to Start His Own Laundry Service