Question

Mike wants to start his own laundry service.​ However, he intends to first study the market and consider factors like who his competitors​ are, how they​ function, their market​ shares, how he can attract prospective​customers, etc., before he decides whether his plan is viable. Mike is engaging in​ ________.

A.

feasibility analysis

B.

entrepreneurial risk management

C.

exploitation

D.

benchmarking

E.

angel investing

Answer 1

A. feasibility analysis

In such a case, Mike is engaging in​ _ feasibility analysis__. As Mark is doing the feasibility study and checking all the factors which would come in play while starting his own laundry service.