MCE TLE 102

Jervyn E. Guianan | Third Year Block A

I.
A. Why feasibility study is important to entrepreneur?

The target audience and their purchasing power can be precisely

identified by completing an appropriate feasibility study. This procedure will
ascertain a business proposal's economic shrewdness. This is a crucial
component of a business case that needs to be completed after a concept has
been established but before it is technically built and long before any actual
production is initiated. An essential goal of a feasibility study is to evaluate the
viability of a business initiative in a particular field or industry. Because they
make you think top-down and first evaluate the larger picture, feasibility studies
are crucial. In this way, one or two broad starter questions lead to a slew of
subsequent, more specific inquiries, which narrow in focus as you approach an
eventual response.

B. What is the differences between feasibility study and business plan?

A feasibility study is conducted to see whether a company endeavor will

be profitable and workable. A feasibility study is conducted to see whether a new
company idea is worth the time, effort, and resources before any money is
committed in it. A business plan, on the other hand, is created only after it has
been determined that a business opportunity exists and the enterprise is about to
start. This only means that a business plan is created following the completion of
a feasibility study.

II.
A. What business would you like to start? What is your goal for your business?
To be really honest, I have a ton of business ideas that I hope to pursue in the
future. Since there is now just one computer shop open in Rapu-Rapu, I truly want to
establish one there that I am confident would succeed. Because I have a preference for
computers, I am really interested in this industry. Additionally, I hope to open a
restaurant one day. I want to share my love of cooking with the world, and I want people
to find and enjoy my food. Lastly, an apartment or boarding house. I want to own a
property in the city. The first two stories will be converted into rental apartments, while
the third floor will serve as our living space. I believe it should work and result in greater
financial savings.