MNGT2002 Business Venturing | Individual Feasibility Study Instructions & Rubric | Assessment Item 1
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Individual Initial/Preliminary
Feasibility Study
This is an initial feasibility study of your individual new business idea. NB. This will
not be sufficient to validate your group business idea ie. further feasibility will need
to be undertaken, and it will need to be revisited regularly as you progress through
the broader business plan.
This feasibility study focuses primarily on the market but also begins to explore
technical aspects of the idea.
PURPOSE: The purpose of this assessment is to provide you with an opportunity
to conduct a preliminary evaluation of your individual new innovation/business
idea, to determine whether the idea will be feasible and warrant the development
of a business plan. The task requires an outline of the core business statement, and
evaluation of the market and technical and commercial feasibility of your initial
concept.
PARAMETERS: Feasibility analysis is the process of determining if a business
concept is viable. It is the preliminary evaluation of a business idea, following
opportunity recognition, conducted for the purpose of determining whether the
idea is worth pursuing providing an entrepreneur with a more secure notion of
feasibility before the development of a business plan.
OBJECTIVE: The objective is to evaluate the initial concept of a new business
venture opportunity by conducting a feasibility study.
Preparatory Details
It is suggested that you undertake secondary research to answer the following in
preparation for writing the feasibility report.
▪ Research what is the need for your new product/service. Where is the gap in
the market? What are the benefits of your offering? To whom? How can it be
differentiated from existing products/services in the market?
▪ Who & what resources are needed?
▪ Research specific considerations including:
1. Potential external constraints including logistics, environmental or legal.
2. Similar or substitute existing offerings.
▪ What are the risks? What crucial issues might prevent the project from being
successful in the marketplace?
The source of this information will form part of your reference list. (Aim for a wide
selection of academic, industry, articles, news, and other current sources to
support your discussion).
DUE DATE:
Week 6
(Friday
11:59pm)
LENGTH:
2000 words
WEIGHTING:
20 Marks
Assessment
Item 1
 Note that it is each student’s responsibility to keep a copy of each assessment task that is submitted.
Detailed Instructions & Structure Guideline start on page 2
**Rubric and Criteria start on page 4
MNGT2002 Business Venturing | Individual Feasibility Study Instructions & Rubric | Assessment Item 1
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Detailed Instructions & Feasibility Structure Guidelines:
Title Page:
Table of Contents:
1. Introduction:
In this section, it is important that you explain your new business concept. Outline and describe
the following two sets of analyses you will be using to conduct your new venture feasibility
analysis: Market and Technical Product/Service analyses.
Remember, the idea should be novel, but this does not necessarily mean a ‘New to the World’
concept. For example, it might be a combination of ideas already in the marketplace or an
improved offering. However, you will need to justify that your business idea doesn’t already exist in
the marketplace.
2. Market Feasibility
This section assesses the Strategic Competitive Advantage (SCA) within the industry, determines
competitors and the target market. Aim to justify and support your proposed new venture idea and
chosen markets etc with secondary evidence and research, such as government and industry
reports, market trends, relevant News items etc.
Address the following:
• Who is the customer/target market?
• What value are you adding for the proposed customer/s?
• What is the market size and trends?
• What needs will the initial SCA (strategic competitive advantage) satisfy?
• Identify competitors and compare SCA.
• How will it be priced?
• Determine channel(s) of distribution?
• What is the estimated market share you can capture in years 1, 2, and 3?
3. Technical Product/Service Feasibility
This section assesses the technical resources available to the business to produce to the product/
service/ experience. It will help you determine whether you have the resources and capabilities to
convert the idea into working business.
Address the following:
• What is to be produced & how? Technological or facility requirements?
• What is the Product, Service, and Experience specifications?
• What are the required skills and capabilities?
• Who will perform these functions?
MNGT2002 Business Venturing | Individual Feasibility Study Instructions & Rubric | Assessment Item 1
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4. Conclusion:
When all areas have been examined, use your feasibility analyses to identify any constraints the
proposed project may face. Evaluate and determine if the business venture is feasible – viable for
further development – or not.
Whilst this assessment has not focused on commercial feasibility, based on the outcome of your
initial feasibility study, ensure you state whether you believe your proposed new venture idea has
the potential to be successfully commercialised ie. Discuss and support why/why not your new
venture has the capacity to generate revenue, in addition to any associated risks identified.
5. Reference List:
- As noted previously, as an academic assessment you will want to support and justify your
decisions and argument with evidence ie. references.
- The source of the information you find and incorporate into your feasibility study will form part
of your reference list.
- To create a more robust argument, aim for a wide selection of academic and industry sources,
statistics, articles, news, and other current sources to support your discussion.
- Referencing style is APA 6th – please see Blackboard and the Gold Guide for further guidance.
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MNGT2002 Business Venturing | Individual Feasibility Study Instructions & Rubric | Assessment Item 1
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Contents of
Written Plan
Fail
(0-49%)
Pass
(50-64%)
Credit
(65-74%)
Distinction
(75-84%)
High Distinction
(84-100%)
Weighting
Introduction
(including
description &
explanation of new
business idea)
Not attempted Some attempt at introduction.
Lack of overarching topic
sentence or other sentences do
not cover all elements of the
report. Venture description and
explanation is limited.
Clear topic sentence which covers
most of the topic. Other
sentences cover most elements
of the report. Venture description
and explanation is broad and
could have more detail.
Clear topic sentence that
adequately covers the Plan. Other
sentences cover all aspects of the
report. Venture description and
explanation is clear and and
concise, giving clear detail of key
areas.
Clear evidence of summary topic
sentence. Other sentences clearly
outline each aspect of the report.
Evidence of high level of linguistic
ability. Venture description and
explanation is detailed and
demonstrates a strong
understanding of the proposed
new venture, it’s potential and
where it fits in the broader
market/industry.
4 marks
/4
Market Feasibility
Analysis
Basic description
with little to no
justification.
Presents a rough description of
the customer group, and that
makes a point in favour of the
business idea’s SCA but is not
well articulated or contains
some significant errors in logic.
Market feasibility presents a
sound description of the target
market and reasonably supports
some of the implementation
decisions. Several questions not
answered. Assesses the
implications of the business
idea’s potential SCA but
evaluation is cursory or contains
minor inaccuracies.
All aspects of market feasibility
are presented with appropriate
identification of a profitable
target market. Good application
of theory. Strong understanding
of the information presented to.
assess the implications of the
ideas potential SCA and related
business decisions.
All aspects of market feasibility
are covered very well. Very good
application of theory. Superior
understanding of competitors
role, and a demonstrated
comprehension of the
implications of the idea’s
potential SCA and is particularly
nuanced and well aligned with
decision-making needs.
10 marks
/10
Technical Product /
Service Feasibility
Analysis
Basic description
with little to no
justification.
Minimal explanation of
product/service/experience
specifications and
requirements. Lacking a clear
line of thought. Poor
understanding of required
skills/capabilities and resources.
Appropriate explanation of
product/service/experience
specifications and
requirements. Limited
understanding and clarity of
required skills/capabilities and
resources.
Suitable explanation of
product/service/experience
specifications and requirements.
Strong justification &
demonstrated understanding of
the information presented.
Well-constructed explanation of
product/service/experience
specifications and requirements.
Strong understanding, clarity of
required skills/capabilities and
resources. Theoretical
justification of practical long-term
feasibility analysed.
4 marks
/4
Conclusion Not attempted or
inadequate.
Some attempt but too
brief. Missing coverage
of several aspects to inform the
feasibility analysis. Final
determination is not justified.
Good attempt with most
aspects of the feasibility analysis
covered. Sound justification of
the idea’s viability.
Very good attempt with virtually
all aspects of the feasibility
analysis covered. Final
determination of the idea’s
business viability is sufficiently
informed.
All aspects of the feasibility
analysis covered with key issues
reiterated appropriate to
managerial implications. Final
determination of the idea’s
business viability is very well
informed.
2 mark
/2
TOTAL – 20 Marks
20 Marks
/20