Government
Involvement
Involvement
The need for more factories and workers
Protects against false advertising
What is the FTC?
The environment that you can not control
What is an external environment?
This is who is a part of the environmental scan
Who is everyone?
Hiring a professional to do your feasibility eliminates this...
What is bias?
These are ways the government pays for the agencies
Taxes
Borrowing
Bonds
Protects children from unsafe working conditions
What is OSHA?
Physical characteristics about a person
What are Demographics?
These are ways to carry out scanning activities...how you obtain information
Survey
Questionnaires
Magazines
Market Research
Step 3 in the study, figuring out how big the industry is
What is a market analysis?
This involves the interest rate and inflation
What is the economy?
Protects everyone from what they hear on the radio or news
Who is the FCC?
Going green and changing family roles are part of this
How often you should scan your environment?
What is continuously?
Expenses associated with day to day business
What are operating expenses?
When a business or industry has complete market share, ie no competition
What is a monoply?
Tests things consumers ingest
Who is the FDA?
Netflix vs cable tv is an example of this
What is Substitute Competition?
This means all factors of an environmental scan are always changing, this means they all effect each other
What is Dynamic and interrelated?
The necessary details to bring your venture to life
What are logistics?
When patents and copyrights are protected
What is protecting business property?
This is the way the government originally acted in businesses
What is, as a referee?
Import and export restrictions affect this part of the environmental scan?
What is the government?
This is a reason to conduct an environmental scan
To identify potential opportunities or threats early on
The 3 decisions you can make after a feasibility study
Proceed
Postpone
Abandon