Week 2 Reflection YouTube

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Iowa State University *

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310

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Management

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Feb 20, 2024

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Uploaded by BarristerArt6670

Uengaksonsamai 1 Phum Uengaksonsamai Professor Wright MGMT 310 Entrepreneurship and Innovation 28 January 2024 Week 2 Reflection: Chapter 3 - What is a Feasibility Study (2:12) I understand that the definition of Feasibility is can you converting your idea into a product? For example, in the video, the speaker would like his car to produce 500 miles a gallon. Is it possible to achieve it? There are three things to focus on; know how (does the exist state of technology allow that?), determine weather the product can be built, and demonstrate/crude prototype. From what I currently understand, I could use this principle to adapt it with my restaurant business. For example, I wanted to make a hamburger. By using three focus areas, I could able to achieve it to demonstrate stage. At this point I must think that is this burger taste good enough for customers, I could start with inviting my friends and family members to taste out and provide comments about the product (burger). So that I can improve it until the product is good enough for the market.

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