Chapter 3 Flashcards
(7 cards)
A tendency to search for information that validates your preconceptions.
Confirmation bias
A preliminary financial assessment of a new venture that considers the total startup cash needed, financial performance of similar businesses, and the overall financial attractiveness of the proposed venture.
Financial feasibility analysis
An assessment of the overall appeal of the industry and target market of the product or service the entrepreneur is proposing.
Industry/target market feasibility
A study conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to launch successfully.
Organizational feasibility analysis
An assessment of the overall appeal of the proposed product or service.
Product/service feasbility analysis
Type of research that probes data that is already collected. The data generally includes industry studies, Census Bureau data, analysts’ forecasts, and other pertinent information gleaned through library and Internet research.
Secondary reasrach
a method of gathering information through direct observation, interaction with potential customers, and informal inquiries, rather than relying solely on formal research methods like surveys or focus groups.
gumshoe research
