Tommy John
Faculty of Commerce & Economics
Entrepreneurship
BUSA 7393
Zipcar
Amaal Nassar
1125027
25\10\2014
Introduction
Feasibility analysis is the process of determining if a business idea is viable.
As shown in Figure 3.1, the most effective businesses emerge from a process
That includes (1) recognizing a business idea, (2) testing the feasibility of the
Idea, (3) writing a business plan, and (4) launching the business.
Fig.3.1 Entrepreneurship, Successful Launching New Ventures,4th edition(2012),by R. Barringer & R. Duane Ireland(Pearson).
Part 1: Product/Service Feasibility
A. Product/service desirability
B. Product/service demand
Part 2: Industry/Target Market Feasibility
A. Industry attractiveness
B. Target market attractiveness
Part 3: Organizational Feasibility
A. Management prowess
B. Resource sufficiency
Part 4: Financial Feasibility
A. Total start-up cash needed
B. Financial performance of similar businesses
C. Overall financial attractiveness of the proposed venture
Overall Assessment
WHAT
So one of an interesting stories that tells us about how much the feasibility analysis is important and curial in a new product or service launching is Tom Patterson story.
I will discuss in briefly the issues that were addressed in this case:
Tom Patterson who is a Medical Device Salesman, was the founder of Tommy John’s undershirts.
Actually in my opinion Tom Patterson had successfully lunched his new product and that’s because he had done a good feasibility analysis which will be explained bellow:
Product/service desirability(the need):
Tom was always frustrated because he found himself constantly tucking his undershirt into his pants. And the boiling point or the turning point was when he stepped out of the car and found his undershirt untucked and bunched up that’s because it was too baggy, too boxy, and too short and didn’t fit well from that day Tom started to ask and search about an undershirt that’s fit very well.
Entrepreneurship
BUSA 7393
Zipcar
Amaal Nassar
1125027
25\10\2014
Introduction
Feasibility analysis is the process of determining if a business idea is viable.
As shown in Figure 3.1, the most effective businesses emerge from a process
That includes (1) recognizing a business idea, (2) testing the feasibility of the
Idea, (3) writing a business plan, and (4) launching the business.
Fig.3.1 Entrepreneurship, Successful Launching New Ventures,4th edition(2012),by R. Barringer & R. Duane Ireland(Pearson).
Part 1: Product/Service Feasibility
A. Product/service desirability
B. Product/service demand
Part 2: Industry/Target Market Feasibility
A. Industry attractiveness
B. Target market attractiveness
Part 3: Organizational Feasibility
A. Management prowess
B. Resource sufficiency
Part 4: Financial Feasibility
A. Total start-up cash needed
B. Financial performance of similar businesses
C. Overall financial attractiveness of the proposed venture
Overall Assessment
WHAT
So one of an interesting stories that tells us about how much the feasibility analysis is important and curial in a new product or service launching is Tom Patterson story.
I will discuss in briefly the issues that were addressed in this case:
Tom Patterson who is a Medical Device Salesman, was the founder of Tommy John’s undershirts.
Actually in my opinion Tom Patterson had successfully lunched his new product and that’s because he had done a good feasibility analysis which will be explained bellow:
Product/service desirability(the need):
Tom was always frustrated because he found himself constantly tucking his undershirt into his pants. And the boiling point or the turning point was when he stepped out of the car and found his undershirt untucked and bunched up that’s because it was too baggy, too boxy, and too short and didn’t fit well from that day Tom started to ask and search about an undershirt that’s fit very well.
References: Entrepreneurship, Successful Launching New Ventures,4th edition(2012),by R. Barringer & R. Duane Ireland(Pearson).