bm guide to preparing a feasibility study
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7/29/2019 BM Guide to Preparing a Feasibility Study
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Undertaking a
Feasibility Study
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1.0 Introduction to this Guide 3
2.0 Technical Feasibility 5
2.1 Product/Service 5
2.2 Technology & Intellectual Property 6
3.0 Commercial Feasibility 7
3.1 Target Market 8
3.2 Competition 9
3.3 Industry Analysis 9
3.4 What is Market Research? 10
3.5 Points to remember when conducting Market Research 11
4.0 Financial Feasibility 12
4.1 Pricing and Business Model 12
4.2 The Business Model 13
5.0 Organisational Feasibility 14
5.1 Team 14
5.2 Organisational Structure 14
6.0 Outputs of a Business Feasibility 15
6.1 Feasibility Structure 15
6.2 Terms of Reference 16
6.3 The Executive Summary 17
6.4 SWOT Analysis and Critical Risk Factors 18
6.5 Recommendations 19
6.6 Conclusion to the Guide 20
7.0 Appendix 22
7.1 Terms of Reference 22
7.2 Market Research 22
7.3 Organisational Charts 24
Contents
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Whether you are new to running a business or have been operating an established business for a
number of years the importance of ensuring you are pursuing a worthwhile business idea cannot
be understated. A complete and well executed feasibility study will be a crucial asset in
convincing banks and financial institutions as well as yourself, that your business idea has a
genuine possibility of succeeding.
A feasibility study will aid the business promoter in formulating a structured approach toweighing up the opportunity at hand while simultaneously acting as a safeguard against wasted
investment or resources.
There is a large degree of work involved in the p
reparation, undertaking and documenting of a
Feasibility study. It is critical that the individual(s)
promoting the business dedicate the
appropriate time to each stage of the process toensure that a comprehensive and objective
study is conducted.
A feasibility study can be defined as an “analysis or research into the practicality of a proposed
plan or method, based on factors like marketplace, competition, available technology, manpower,
and financial resources”
A feasibility study needs to provide the business or business promoter with an answer to thefundamental question, “Does this idea have the potential to succeed and will it work? ” There is
no easy answer to this question and in order to find one; the business promoter must undertake
pertinent research under the appropriate headings detailed further on in this guide.
By conducting a thorough feasibility study, the business promoter will be provided with:
Clear supporting evidence for recommendations to assist with decision making
A signpost towards challenges that will need to be addressed
Valuable information about the target market A definitive answer on whether or not to pursue the business idea in question
Definition taken from www.dictionary.com
1.0 Introduction to this Guide
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This guide has been created as an outline to undertaking a full feasibility study. In writing this
guide we have drawn on professional and practical experience in helping businesses produce
clear, logical and comprehensive feasibility studies. It is important to realise however that, like
businesses, all feasibility studies are different. Each must be tailored to the needs of the
individual business and clearly analyse the business as a whole.
The feasibility study must fully address all areas of the business to include Technical Feasibility,Commercial Feasibility and Organisational Feasibility so that a comprehensive overall view of the
proposed business idea is constructed.
On completion of your feasibility study the business promoter will have be left with a clear view
as to whether or not to proceed with the proposed business concept . Concurrently, the
promoter will have realised any potential pitfalls which may be associated with the venture.
There appears to be a common misconception that a feasibility study and a business plan areone in the same. They are however, very different documents. A feasibility study is in fact the
stepping stone towards the creation of a business plan and must be conducted prior to the
production of a business plan.
This guide has five sections:
1. Technical
2. Commercial
3. Financial
4. Organisational
5. Outputs of a Business Feasibility
Within each section the guide addresses briefly what the promoter, along with their advisors
need to do. This will list activities such as talk to Patent Advisors, undertake secondary research
etc. Each section will secondly identify key issues that should be assessed as each element of the
feasibility is undertaken.
1.0 Introduction to this Guide contd...
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The actions to be taken by the business promoter:
Talk to internal Operations and R&D team and/or advisors to develop blueprint for the
product or service
Identify external technology partners (possibly via tender) re equipment and components
required
Identify enterprise agency financial supports (e.g., Framework 7, Innovation Voucher,
Feasibility or Tax Credits) if applicable.
Under technical feasibility, the promoter must look at the product/service that your business
offers/intends to offer customers. This section provides evidence that it is technically possible,
given appropriate resources, to produce or manufacture the product/service examined in the
feasibility.
New businesses can be founded by individuals in any industry and should have strong technical
capabilities. The purpose of the feasibility is not to physically create a new product that is ready
for market but to prove that such a product can be created. This may consist of providing
validated drawings or designs and possibly by producing a working prototype.
This feasibility analysis should cover:• A comprehensive description of the product/service from a technical viewpoint. .
• Details of the means used to provide the product/service to customers e.g. ecommerce
website, physical store, direct sales
• Details of the components to be used in producing the product/service and who will
supply them.
• Details of the plant, machinery and processes involved in producing the product/service.
The promoter must also stipulate details of whether the product is manufactured internally
or will be manufactured using outsourcing.
• Information regarding whether the product/service will link to other product/service lines
if an existing business, or if there is an option to offer complimentary product lines.
• Details relating to how the product will be packaged must also be provided in this section.
2.0 Technical Feasibility
2.1 Product/Service
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Technology & Intellectual Property focuses on whether intellectual property will be created byengaging in this new venture. This is particularly relevant for software, or highly technical
products. The promoter must provide details of the existence of any existing IP agreements or
planned agreements along with details of any patent searches undertaken. There are several
Patent Databases available to use, “Espacenet” is a worldwide database of published patents
and patent applications. This website is free to use and search, and is administered through the
European Patent Office.
Other points to be addressed:
• Details of any patent advisors to the business.
• Any licensing agreements related to the product/service must be explored.
• Details of any costs incurred to date relating to patents.
• Details of the technology incorporated into the product/service. This area is particularly
relevant for businesses specialising in products featuring specialised software
• The patents, copyrights and trademarks held by the business in relation to its
product/service
• Details referring to the protection of trade secrets should also be referred to here• External partners must also be identified in this section. These partners may be brought in
to meet any gaps that the business may have in the research and development capability.
• If the business has secured, or intends to secure funding for R & D grants such as
innovation vouchers or an Enterprise Ireland R& D growth fund must be provided here.
Now that all technical issues have been discussed, this guide will now focus on what needs to be
considered under the heading of Commercial Feasibility.
2.1 Product/Service
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The actions to be undertaken by the business promoter:
Talk to potential customers to clearly identify their ‘burning needs’
A broad profile of specific customer segments should be generated to assist in
understanding customer needs. The profile would outline sex, age, income level etc
Undertake customer research to confirm that solution meets end user needs
Identify target markets and
Collate industry information including a comprehensive assessment of the competition.
When completing the target market element of the feasibility the promoter must analyse a
number of potential markets that they may enter. Each of these markets should then be ranked
in order to determine the most beneficial market(s) to enter into.
A clear, detailed description of the intended market should be supplied. In this section, the
business promoter should be able to demonstrate that there is a sufficient room in the market to
allow the business to generate profits. This section should consider the following:
• Specific details of the chosen market that the business intends to operate in
• The size of the chosen market
• The recent, current and projected conditions of the target market
• The reputation of the chosen market (e.g. highly technical, easily entered, tough to crack)• Whether the business intends to operate on a local, national or international scale
The first step in the feasibility is to assess if the business has existing customers. If yes, one has a
captive audience and can also add new customers. To add new customers, one needs to define
the target market. All details relating to the business’ potential customers must be addressed.
3.0 Commercial Feasibility
3.1 Target Market
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The promoter should be capable of creating a profile of the organisation’s ideal customer in their
head.
The promoter must ask themselves:
• Who is our target customer?
• Am I operating as a Business to Customer or Business to Business enterprise? (See Figure
1.2)
• What is our ideal customers sex, age, income level and interests?
• Is there a distinction between our buyer and our end user? What are the target customer
segments (geographic, demographic, psychographic and behavioural)?
• What products/services are they already using?
• On what factors are buying decisions made?
Fig 1.2
It is vital that the promoter(s) take advantage of any secondary research previously compiled
that relates to their target market. Secondary research can often provide a solid base on which
to formulate a primary research plan.
3.1 Target Market contd...
B2B applications have these unique characteristics that set them apart from B2C applications
-Different types of purchases and authorizations
-Unique contracts, terms, and conditions for different business customers
-Participation in customer's supply chain
-Variety of customer sizes, demands, and requirements
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It is vital when conducting a feasibility study to perform a detailed analysis of the business thatyou will be competing against directly, as well as indirectly. This will enable the business
promoter to develop an understanding of the target customers needs and expectations and how
these needs are being served. By studying how competitors interact with their customers, the
promoter can learn a great deal.
This section should include:
• Details of all significant direct competitors
• Details of any indirect competitors
• Your business’s advantages and disadvantages versus the competition
• Barriers to entry for anyone who wishes to enter the market
• Your business’s USP (Unique Selling Point)
The promoter must conduct an in-depth analysis of the industry that they intend on operating in.
In order for the business owner to operate their business venture in a particular industry they
must have a clear understanding of the forces in play. Porters 5 Forces is a useful and effective
method of analysing each of these forces with relation to the proposed business venture.
(See Fig 1.3)
For an excellent video on the Harvard Business Review website see
http://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy/ar/1
3.2 Competition
3.3 Industry Analysis
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Fig 1.3
This analysis will have significant influence on business model and route to market decisions
which will be discussed in section 4.2. An honest appraisal of the customer problem may require
redesign or tailoring of the product configuration. The ability to tailor the product if required by
customers has to be fully addressed by the Technical Feasibility. If a positive assessment is
determined during the Commercial feasibility stage, the study moves on to address financial
feasibility.
Customer research is an important element for any feasibility study. Before this guide moves on
to discussing Financial Feasibility, it will take a closer look at the importance of Market Research.
Market research can be described as the collecting, reviewing and analysing of important
information regarding your customer’s wants, needs and attitude towards your business’
product/service.
Market research is carried out by the business promoter before drafting a feasibility study and is
an important factor in gauging your customer’s response to your business’ new venture. If
market research is conducted effectively using an appropriate method, it can be an important
and valuable tool for companies to aid them in the decision making process.
3.4 What is Market Research ?
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Market research is a crucial element of every feasibility study. There are a number of key points
that every business promoter must be aware of when conducting research into their target
market.
These points are as follows:
1. Talk to people at every opportunity . When researching your market it must always be a
priority to engage with your potential customers. Be open about your product and get their
feedback on how they feel about your product/service. Tradeshows or networking events
are always valuable opportunities to learn this information.
2. Record the information. By recording the information you have gathered the promoter is
able to document all reactions in detail. Valuable information is kept on file and can be
referred to at a later date.
3. Talk to a representative sample of potential customers, not just your friends or family . In
terms of survey design, it is vital that you are speaking to the right people. Construct a
potential customer profile and only approach these individuals when conducting a survey.
This will enable you to extract the necessary information from likely users of your
product/service.
4. Listen carefully, not the answers that you want to hear but for real customer feedback . It
is common for business promoters undertaking a new venture to approach market
research with a certain element of bias. Many promoters want there business to succeed
and may often give more focus to the positive reactions of customers than the negative.
While it is recommended that you should use experts to design and undertake your
research, the promoter should always be as involved as possible, particularly in meeting
customers.
5. It does take time. It is no secret that undertaking market research relating to a new
product/service is a time consuming process. The promoter must dedicate the appropriate
time to this process as detailed market research provides the opportunity to learn valuable
information from potential customers.
6. A large amount of resources must be invested in this process. The promoter must be
aware that it will take time and money to conduct effective market research into their
target market. The business owner must be aware of this factor.
7. Market research needs to well structured . The promoter must approach market research
in a clearly thought, logical and structured process. This will facilitate the promoter in the
collecting of this information.
3.5 Points to remember
when conducting Market Research
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The actions to be undertaken by the business promoter:
Talk to financial advisor.
Collate financial information.
Generate projections across multiple scenarios.
Define the business model
The financial feasibility is the number crunching and decision making that follows the
information flow arising from the market research undertaken during the commercial feasibility
stage. It is presented firstly as a business model and secondly as a set of standard financial
projections.
The key element to the pricing and finance section of the feasibility study is the generation of
financial assumptions. Financial assumptions are the backbone to your financials and must be as
accurate as possible. The promoter must research both their fixed and variable expenses in
order to generate accurate assumptions to support all financial projections that have been
prepared.
The creation of these projections should be a standard process where there should be no
mistakes. If the promoter is inexperienced in this area, it is advised that a finance professional is
consulted to ensure clarity is achieved.
Scenario planning is an important element to determining the financial feasibility of a business.
This involves the testing of different assumptions in terms of revenues and customers numbers,
pricing elasticity.
Allied Irish Bank provide a useful online cash flow wizard at www.aib.ie
4.0 Financial Feasibility
4.1 Pricing and Business Model
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The business model can be defined as “The rationale of how an organization creates, delivers
and captures economic value.” In other words, the business model describes how your business
makes money.
The business model focuses on 3 key areas:
• Revenue Streams (who pays you)
• Route to market (channels of distribution)
• Gross Margin
This is a central section of the feasibility study for the interested party and must be given the
necessary diligence to demonstrate the business’s viability. Included in this section should be:
• In depth details on how the business expects to generate money (Direct sales, licensing,
online sales or retail sales)
• The cost of purchasing products, the price you intend to sell your products at
• Your pricing in relation to your competitors
Fig 1.4
The input to every business model is its customers. Following this, the product/service offered
by the business must demonstrate a unique capability which the business has to meet a critical
need of the market. The business’ unique capability may be comprised of valued, highly capable
employees, innovative new technology specific to the firm, company structure etc.
The route to market, or channel of distribution, must also feature in a business model. The
agreed upon pricing model then results in the generation of revenue streams for the business.
4.2 The Business Model
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The actions to be undertaken by the business promoter:
Compile up to date CVs of promoters and management team.
Define the duties and responsibilities of each member of the management team.
Define the business’ organisational structure.
Generate a company organisational chart.
The feasibility study must also assess the management team that will be behind the business
venture. Information regarding each key individual involved in the running of the business is
dealt focused on to determine if the selected individuals have the skills and qualities required to
run the business venture effectively. Items to be addressed in this section would include:
• The background of the promoters
• Key profiles of management/Profiles of management to be recruited• The roles and duties of each member of the management team
• Full CV’s of the Senior Management
• A brief description of any non executive directors must also be provided
• Details of advisors and mentors to be sought by the promoters
It is common for all businesses and organisations to have various departments and positions that
work together in reaching a common goal. In order to facilitate this collaboration, the business
promoter must decide upon a suitable organisational structure for the business. This structure
will communicate the flow of authority within the business and can often differ in size, shape
and formation depending on the business in question (See Section 7.3 of the Appendices). Items
to be addressed in this section would include:
• Details of each department present in the business
• Details of each employee in each department
• A full company organisation chart
5.0 Organisational Feasibility
5.1 Team
5.2 Organisational Structure
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If all sections of the study have been satisfactorily completed with due diligence, the potential
viability of the proposed business idea should be evident.
Any conclusions drawn from the study must be clearly laid out along with any recommendations,
changes or alterations suggested that would improve the chances of the business idea
becoming possible.
The Feasibility Study you conduct can include the following elements:
Fig 1.1
6.0 Outputs of a Business Feasibility
Terms of Reference
Executive Summary
Contents Page
Product/Service
Technology &IntellectualProperty
Market Environments
Target Customers
Competition
Pricing and Business Model
Financials
SWOT Analysis &
Critical Risk Factors
Financials
Conclusions &Recommendations
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6.1 Feasibility Structure
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It is important that certain elements of the feasibility study be undertaken in sequence e.g.
Technical Feasibility must be conducted before Financial Feasibility. The key element to every
feasibility study is the message that is conveyed in the report.
This guide examines each of these areas, and describes the basic information to be included
within each section. It is always advised that the business promoter or senior decision maker is
centrally involved in the conducting of the feasibility study, this is especially critical if an external
marketing company has been commissioned to undertake the study. The promoter is also
advised to include objective reviewers at various stages of the study to provide unbiased
scrutiny.
We have now dealt with what a Feasibility Study is comprised of, along with the elements to be
included and the structure to be followed. This guide will now explore the Terms of Reference and
Executive Summary sections of a Feasibility Study.
Terms of Reference are a crucial element of every Feasibility Study. Terms of Reference can be
defined as “a specific set of ordered instructions that clearly indicate to the project team, the
issues that should be addressed in your feasibility study.”
This is a crucial part of every Feasibility Study whether the study will be undertaken internally by
the management team, or by an external party. By defining the guidelines of the FeasibilityStudy to be undertaken, the promoter will be provided with clear directions that the study will
take throughout the course of the process.
Through brainstorming, the project team must define and specify the primary objective of the
feasibility study. Secondary objectives must also be decided upon and generally take the form of
'to assess, examine or investigate key issues under the four areas of feasibility or, can be firmer
to determine such as ‘to detail or outline'.
Definition taken from www.barlowandassociates.com
6.2 Terms of Reference
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Essentially, the Terms of Reference specify all aspects of the study such as the objectives, goals,
scope and deliverables to be achieved. Each of these need to be agreed upon by all members of
the project team.Common elements to be included in this section include:
• Background of Feasibility
• Title and Location
• Project Summary
-Background -Methodology
-Rational -Purpose
-Goal(s) -Development Context
• Scope
-General
-Key Consideration
-Activities
• Cost of Study
All goals and objectives detailed in the project terms of reference must be SMART. That is to say,
that each goal must be Specific, Measurable, Agreed Upon, Realistic and Timely. To see an
example of a Feasibility Study “Terms of Reference” see Appendix 7.1.
The purpose of the executive summary is to provide a concise summary of the study as a whole.
This section of the Feasibility Study must specify if the proposed business venture is viable under
the four key headings of Technical Feasibility, Commercial Feasibility and Organisational
Feasibility.
In order to prove this viability of the proposed business venture the promoter(s) must provide
evidence here to support the key recommendations and/or identification of the challenges to be
faced if the proposed opportunity is to be pursued.
The primary objective of the study along with all relevant secondary objectives must be clearly
stated by the individual(s) involved in the study along with brief details relating to the research
undertaken as part of the study. This would include an outline of any primary and secondary
research conducted.
6.3 The Executive Summary
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If a group of potential customers were interviewed or surveyed, the results of this research
should be demonstrated using visual illustrations such as graphs and charts. Similarly, this
section should outline the key financial assumptions and projects under numerous “possible
scenarios”. These may also be presented on graphs or charts.
The executive summary should cover no more than two pages of text. It should be set out in
paragraphs of approximately equal length which follow the headings of the study and must be
written after all other areas of the Feasibility Study have been completed.
Now that the Terms of Reference and Executive Summary sections of a Feasibility Study have
been explored, we will now focus on the four key areas of Technical, Commercial, Financial and
Organisational Feasibility, detailing the information and points to be considered under each
heading.
In this section, the promoter should carry out a SWOT analysis of the business to include the
business’s strengths, weaknesses, opportunities and threats. Along with this analysis the
business owner is encouraged to create a list of the risks that the business faces at present aswell as in the potential future risks. Items to be included here are:
• A detailed SWOT analysis of the business
• A detailed SWOT analysis of the business’s competitors
• A list of critical risk factors that the business venture may face.
Actions to be taken by the promoter:
• Under take a detailed SWOT analysis.
• Write a feasibility report to document the key findings of the study.
• Prepare recommendations at the conclusion of the study.
6.4 SWOT Analysis
and Critical Risk Factors
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Some areas where recommendations may be made would include:Product: A particular feature of the product is not popular among consumers. The feature must
be changed to coincide with customers opinions.
Staff : A member, or members, of the management team may not be sufficiently qualified tomeet the business’ requirements. An alternative member must be identified.
Intellectual Property: A patent on the product has not been acquired therefore the productcannot be protected against replication. The promoter must immediately apply for a patent
on their product.
Price: The price that the product/service is sold at is too expensive/too cheap. The promotermust revise their pricing strategy to correspond with the price that potential customerswould be willing to pay.
Branding: The brand does not connect with potential customers or add to the product/services’credibility. In this case the promoter must review the branding with a view to getting thesemessages across.
Supplier: The suppliers providing the components are too expensive resulting in a reduction inprofits. Alternative, more cost effective suppliers must sought and approached.
The business model: The current business model is ineffective. A new business model must beadopted for the business.
Competition: A major competitor has been omitted. Conduct an in-depth study of thiscompetitor immediately.
Financials: Cash flow projections for the business are inaccurate. The projections need to bereviewed by a professional with a view to providing more realistic figures.
Channel of distribution: The channel of distribution planned for the product/service is not ideal.The promoter needs to assess all other possible routes to market and determine whichroute is most suitable.
Even if the business idea is found to be flawed, this does not necessarily mean that the idea
should be completely abandoned. It may be possible for the promoter to alter some aspects of
so that the idea can become viable. Once the feasibility study has been completed, it is the
promoter’s decision whether or not to go ahead with the business venture.
6.5 Recommendations
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Feasibility studies and business plans are complimentary documents. It is normal for a businessplan to be prepared following the conducting of a feasibility study. While a feasibility study is
focused on analyses, scenarios and calculations a business plan is concerned with tactics,
strategies and agreed budgets.
Another key difference between the two documents is updating. A feasibility study is a once off
document produced by the promoter (or external party) to assess the viability of a business
concept. On the other side of the coin, a business plan is a document that is regularly updated
by the promoter to keep track of any changes experienced by the business.
The key overriding factor concerning both a business plan document and a feasibility study is the
ability of an organisation to profitability meet customer needs.
As a final note, this guide will now revise the list of actions that need to be taken by the business
promoter, prior to undertaking the feasibility study. The actions are as follows:
Technical:
Talk to internal Operations and R&D team and/or advisors to develop blueprint for the
product or service
Identify external technology partners (possibly via tender) re equipment and components
required
Identify enterprise agency financial supports (e.g., Framework 7, Innovation Voucher,
Feasibility or Tax Credits) if applicable.
Commercial:
Talk to potential customers to clearly identify their ‘burning needs’
A broad profile of specific customer segments should be generated to assist in
understanding customer needs. The profile would outline sex, age, income level etc
Undertake customer research to confirm that solution meets end user needs
Identify target markets and
Collate industry information including a comprehensive assessment of the competition.
6.6 Conclusion to the Guide
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Financial:
Talk to financial advisor.
Collate financial information.
Generate projections across multiple scenarios.
Define the business model
Organisational:
Compile up to date CVs of promoters and management team.
Define the duties and responsibilities of each member of the management team.
Define the business’ organisational structure.
Generate a company organisational chart.
Finally:
Under take a detailed SWOT analysis.
Write a feasibility report to document the key findings of the study.
Prepare recommendations at the conclusion of the study.
On behalf of Bridgewater Management, I hope that you have enjoyed reading this “Guide toUndertaking a Feasibility Study” and will find it useful in the conduction of your Feasibility Study.
All reasonable care has been taken in the preparation of this brochure. No responsibility or
liability is accepted by the authors, Bridgewater Management, for any errors, or omissions
or misstatements it may contain, or for any loss or damage howsoever occasioned, to anyperson relying on any statement or omission in this brochure.
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For a sample Terms of Reference please follow this link.
http://www.adb.org/Documents/ADBBO/Other_Notices/pak/TOR-L2178-railway-
electrification.pdf
There are two key categories of market research and these are; Primary Research and Secondary
Research.
Primary Research
Primary Research consists of research conducted using first hand experience. All information
gathered is original data collected by the business promoter for the first time and comes directly
from the source.
Primary research is divided under two headings. These headings are; Qualitative Research and
Quantitative Research.
Qualitative Research
This type of research pays particular focus to the quality of the information collected. The
majority of this information is acquired using the format of an open ended discussion so that
one idea can quickly lead onto a new idea or suggestion.
Collecting qualitative information is semi-structured to combine a focused agenda with flexibility
to identify issues which may be unforeseen.
Quantitative Research
Quantitative research is a form of primary research that is centred on the collecting of specific
and unambiguous information. Here closed questions are used, designed to extract specific
information from the individual.
Collecting quantitative information follows a structured approach and seeks to acquire specific,
measured information.
7.0 Appendix
7.1 Terms of Reference:
7.2 Market Research
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Types of Primary Research
Personal observation of consumers
Personal Interviews/ Telephone Interviews
Surveys
Questionnaires
Focus Groups
Primary Research – Advantages/Disadvantages
Secondary Research
Secondary research differs from primary research in the respect that it focuses on the analysis of
previously collected, second hand information compiled by another individual or group. It is the
most common form of research employed in the industry today and probably, the easiestmethod of market research.
This type of research uses information already collected to generate a conclusion relative to the
task faced by the business promoter.
Types of Secondary Research
Published Reports
Internet Libraries
Databases
Past Sales Data
Government Statistics
Secondary Research – Advantages/Disadvantages
Advantages Disadvantages
Specific information is acquiredLarge degree of control
Direct contact with audience
Results are kept private
Expensive to conductTime Consuming
Information gathered may only be relevant
for a short time period.
Advantages Disadvantages
•Information is already collected
•Information is easily accessed
•Low Cost
•Minimal time is wasted
•Quality of research may be poor
•Research may be bias
•Information may be outdated
•Research may not exactly fit your need
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“First Aid International” Organisational Chart
Sample Organisational Chart for a hospital
7.3 Organisational Charts
Director
TrainingManager
Training Staff
Sales Manager
Sales Staff
AdminManager
Administration
Clerk
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