Asked by Diana De Luna on Jul 08, 2024
Verified
A nonprofit board of directors is analyzing a feasibility study to determine if there is a community need for a new service. The board is looking at which part of the business plan?
A) description
B) market analysis
C) financial assumptions
D) uncertainties and risks
Feasibility Study
An analysis conducted to assess the practicality and potential success of a proposed project or venture, considering factors like economic, technological, legal, and scheduling constraints.
Community Need
The demands or requirements essential for the wellbeing and improvement of a specific community.
- Grasp the critical components and purposes of a business plan in the nonprofit sector.
- Understand the significance of market and competitive assessment in initiating nonprofit business endeavors.
Verified Answer
DT
Dayzsanae TaylorJul 14, 2024
Final Answer :
B
Explanation :
The market analysis section of a business plan examines potential customers and competitors in the area to determine if there is a need for the proposed service. Therefore, analyzing a feasibility study to determine community need would fall under the market analysis component of the business plan.
Learning Objectives
- Grasp the critical components and purposes of a business plan in the nonprofit sector.
- Understand the significance of market and competitive assessment in initiating nonprofit business endeavors.
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