Posted on by Judy

Write a brief report on the busniess venture you choose.and then answer the following a. Industry/market feasibility analysis is an assessment of the overall appeal of the market for the product or service being proposed. For feasibility analysis, there are two primary issues that a business should consider in this area: industry attractiveness and target market attractiveness. Given that most start-ups simply don’t have the resources needed to participate in a broad market, how would you conduct a market feasibility analysis for “your” venture? Be brief. b. Organizational feasibility analysis is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business. There are two primary issues to consider in this area: management prowess and resource sufficiency. How would you conduct an organizational feasibility analysis for “your” venture? Be brief.

a) My venture is about providing customized tutoring solutions to students in my small town. The medium of delivery is online as well as offline. Since the population of my town is around 0.5 million with a good number of young students in the town due to the presence of couple of technical institutes.
The technique used for assessing the market was the following:
Visit to the technical institute to understand the learning requirement of the students and understand there is a scope for tutoring.
Get word of mouth feedback on the existing solutions available from interactions with various current students and those who have passed out and gauging the potential of the market.
Also visiting primary schools to understand the sentiment of teachers and student toward any private assistance in the learning process.
Conducting few mock classes and getting feedback on pricing, structuring lessons etc.
b) Since the tutoring solutions business will be of small scale, most of the management, administrative functions and service delivery will be done by myself. I will also hire one teaching assistant who will work with me to prepare lessons and coursework but this will be done only after the business has gained certain momentum. Since limited management prowess is required, this is not expected to be a constraint.
Regarding resource sufficiency, the resources required for delivery of tutoring services such as notebooks, books, pens in case of offline tutoring is already available with me.
For online delivery, the requirements are laptop, a fast internet connection, video chat applications etc. All of these requirements are available and thus there are no significant resource constraint.
 
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