Evaluation of a Business Concept

In this chapter we will look at new concepts and ideas, assess viability, and highlight the following:

The critical need for a thorough evaluation of any business idea prior to implementation.

Analysis of the viability of using technology for this new idea.

Selecting a product or service.

The supply–demand model.

However, as boring as it may seem and as time-consuming as it appears to be, all new business ideas, no matter how brilliant you may appear to be, must be assessed in a feasibility study to truly determine its effectiveness in the real world. As such, this chapter highlights whether your business idea can survive and prosper as a stand-alone entity within your larger organization, ...

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