Assessing Business Attractiveness — Flashcards

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Business attractiveness refers to the overall potential of a business idea to succeed in the market environment by generating consistent demand, producing efficiently, earning sustainable profits, man…

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It is a critical pre-launch activity because it reduces uncertainty, minimizes risk, and increases the chance of long-term success. Many businesses fail not because the idea is poor, but because it wa…

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The five major analyses are Technical Analysis, Market Analysis, Financial Analysis, Organisational Analysis, and Competition Analysis and Safeguards.

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Technical analysis checks whether the business idea can be practically implemented using available technology, infrastructure, and operational systems. It asks whether it is technically feasible to pr…

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Technical requirements include machinery and production equipment, tools and instruments, software systems and digital platforms, information technology infrastructure, and quality control mechanisms.

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Technology selection depends on the nature of the product, scale of operations, budget constraints, availability of skilled labour, and industry standards. The right technology should match the busine…

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Modern technology improves speed, accuracy, and competitiveness, but it also increases fixed costs. That is why cost-benefit analysis is essential before choosing it.

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Idea → Research → Feasibility Study → Design → Prototype → Testing → Modification → Production → Launch…