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Feasibility Study vs Business Plan

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Distinguish between the feasibility study and business plan. Definition - Feasibility study is conducted before the business plan is prepared. Only after determining that the business is feasible, the business plan is prepared. - The business plan follows the feasibility study and the identification of the business opportunity. Purpose - Starting a business requires the investment of - Time - Money - Hard work - Other available resources. So the purpose of the feasibility study is to know whether the investment would return worthy returns or not. It involves - Analysis - Calculations - Estimates - Business plan comprises of the specific strategies and tactics that need to be followed to achieve the business goal. Relationship - A feasibility study can be transformed into a business plan. - A business plan can be easily derived from the feasibility study. Advantage - We can determine whether a business idea is an economically viable opportunity or not - Helps to decide the business direction for the growth and sustainability of the business Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xi/entrepreneurship/entrepreneurial-journey/
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APheonixPretense8 (1 month ago)
What an exquisite English accent you have

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