HEALTHCARE ENTREPRENEURS

Healthcare Entrepreneurs

Healthcare Entrepreneurs

Question 1

Organizational Feasibility

Organizational feasibility of a venture comprises of the corporate and legal structure of the business. It may also include background information about the founders and skills that they can offer to the business. To evaluate the organizational feasibility of a venture, an investor first assesses the resources that would be required to carry out a project (Thrall, 2002).

Financial Feasibility

Financial feasibility is a fundamental step in starting a business. This notion aims to develop and verify the financial stability of any good and a creative project. Financial feasibility is measured by the quantitative analysis that undertakes figures of financial ratios.

Significance

Both organizational and financial feasibility of a venture are important for the organization and investors. Financial feasibility provides information about the financial trends of the organization, whereas organizational feasibility helps the organization to protect its resources (human resource, assets, etc.) in the long-term.

Success of an Entrepreneurial Venture

Financial feasibility is most vital to the success of an entrepreneurial venture because an entrepreneur is himself motivated about achieving the desired objectives. The only constraints that an entrepreneur faces are of finances. For an entrepreneurial venture, financial feasibility is important because it provides the financial ratios which help the entrepreneurs to know the financial position of the organization (Thrall, 2002).

Question 2

Purpose of a Business Plan

A business plan is a fundamental element of any plan to create business. There are many types of business plans. It depends on what industry the nature of the business belongs to. It could be from home and body products or food and drink industry. Basically, a business plan functions mainly on providing movement, outline, and profit.

A good business plan will make you take the necessary steps in order to put to life the business that you want to have. It will guide you ...