VIABILITY AND IMPACTS OF BUSINESS ON THE COMMUNITY

(Applied Economics Study Guide 1)

Written Works Identification

1. Macroenvironment
• This refers to the geography, customs, traditions, and belief of the locality.
2. Definition of Terms
• This pertains to the nature shows the related articles or research that can be used
to negate or jibe with the findings in the study.
3. Significance of the Study
• This will guide the proponent to enumerate at least groups of people that will
benefit from the study and the reasons why and how will these three groups of
people benefit from the study.
4. Organizational Structure
• It shows the persons occupying the different positions of the organization to
function as a unit for the attainment of its vision and mission.
5. Job Analysis
• It is understanding the functions of each position so that job specification and
description can be effective and efficient.
6. Job Description
• These are the list of jobs that will be performed by the person holding the position
while job specification refers to the qualities of the person that will fit the
position.
7. Gantt Chart
• It is one way to schedule the foresighted schedules. It is also a calendar of
activities, specifying the number of calendar days for each activity.
8. Socio Economic Aspect
• It measures the social and economic impact of the study on the people and the
community.
9. Statement of Assumptions
• These are estimates made by the business proponent such as initial sales,
purchases, expenses, and subsequent increases in the following years that will
serve as a guide for the reader to understand the financial statements.
10. Social Impact
• It can be measured when the people living in the community or area of operation
of the proposed business have improved due to employment opportunities offered
by the proposed business.
11. Technical Aspect
• It provides the technical soundness of the business and gives all the details
necessary for the business to operate.
12. Feasibility Study
 • It is an analysis made to determine the viability of an idea.

Performance Task (Random Questions and Answers)

1. What is Feasibility Study?
• A feasibility study is an assessment of the practicality of a proposed plan or project.
A feasibility study analyzes the viability of a project to determine whether the
project or venture is likely to succeed.
2. When and why do we do a feasibility study?
• Studies of feasibility demonstrate the viability of your vision. Every advancement
began with an idea, and while some have overcome the odds, those ideas were
rarely implemented without first being appraised. You may measure the chances of
attaining your definition of success by looking at the environment that surrounds
your vision, including where consumers would come from and who you would
compete with to obtain them. It's also worth noting that feasibility studies might
help you "right-size" your goal.
3. Differentiate the feasibility study and a business plan? How would it help you in
your business endeavor?
• Feasibility studies evaluate whether to pursue the business or another concept,
whereas business plans are developed after the choice to pursue the business has
been made. Feasibility studies are critical for business development. They may help
a company decide where and how it will operate. They can also identify possible
roadblocks to its operations and estimate the amount of capital required to get the
firm up and operating. A feasibility study enables a firm to address where and how
it will operate, its competition, potential roadblocks, and the capital required to get
started. The business plan then offers a framework for carrying out and executing
the entrepreneurial ambition.
4. If given a chance, what business idea would you conduct a feasibility study? Defend
your answer.
• My business plan is to open a coffee shop. And I'd want to do a feasibility study on
it because feasibility studies look at possible risks to see whether they're worth
taking. I'd want to know where my business concept will go and what direction I
should take to win the business field.