Feasibility Study Essay Assignment

Feasibility Study Essay Assignment

Feasibility Study Essay Assignment

Prepare a feasibility study based on a scenario of your choice.

SCENARIO

You have been asked by the CEO of your organization to propose a project or program to address a specific need, and to develop a feasibility study to determine if the proposed project or program should be undertaken.

YOUR ROLE

You are a department leader in the organization.

Example Assessment: You may use the following to give you an idea of what a Proficient or higher rating on the scoring guide would look like:

REQUIREMENTS

Complete each section of the feasibility study as completely as possible, and support with relevant evidence. The length of your feasibility study will depend largely on the project or program you are proposing to address the need of your organization. Be sure that each section is fully addressed.

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Your feasibility study should:

  • Provide relevant information on the organization (Section I).
  • Analyze the objectives of the proposed program (Section II).
    • Explain why you are proposing the program.
      • Where does it fit within the organization?
      • What systems will be affected by it?
      • What systems issues will it address?
    • Explain how both patients and the organization will benefit from implementing the proposed program.
    • Provide evidence that the program is needed.
  • Explain the value of the program (Section III).
    • How well does it align to the organization’s mission?
    • How well does it fit with existing programs and services?
    • Do competitors offer something similar? If so, how will your program give your organization a competitive advantage?
  • Analyze the potential financial and economic issues of implementing the program (Section IV).
    • Identify any economic issues that could affect the success of the program.
    • Explain how your program could affect the local economy (both positively and negatively).
    • Identify possible funding sources.
    • Estimate the cost of implementing and maintaining your program.
  • Analyze the marketing issues associated with your program (Section V).
    • Explain how your program may affect the existing marketing approach.
    • Explain how your program will meet the needs of the target market demographic.
    • Explain how you will differentiate your program from those of competitors.
  • Determine how the program may affect the entire organization (Section VI).
    • Are there regulatory or policy implications?
    • Will new licenses or certificates be required for the organization or staff members?
    • Will the program affect the tax status of the organization?
    • How might the program affect liability and risk management?
    • Do you have enough space for the program?
    • Do you have evidence to support the effectiveness of the program?
  • Recommend a course of action based on the information in the feasibility study.
    • How does your recommendation reflect ethical decision making?

DELIVERABLE FORMAT

The feasibility study is a professional document and should therefore follow the corresponding MBA Academic and Professional Document Guidelines, including single-spaced paragraphs. Feasibility Study Essay Assignment

Organize your document using this structure:

  • Title page. (What is the title of your proposed program?)
  • Executive summary. (Many executives require an executive summary for projects of this type. The summary is written last, but becomes the first section of the feasibility study and provides an overview of the goals and objectives, summarizes the key points supporting the need, summarizes the key points supporting your proposed program, and includes your conclusion and recommendations.)
  • Feasibility study.
  • References page.
    • APA-formatted references.
  • Written using language appropriate for an executive audience.

EVALUATION

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies through corresponding scoring guide criteria:

  • Competency 1: Analyze how economic, legal, regulatory, and policy factors influence the organization and financing of health care delivery systems.
    • Provide relevant information on an organization.
    • Analyze the potential financial and economic issues associated with implementing the proposed program.
    • Analyze the marketing issues associated with the proposed program.
  • Competency 2: Analyze relationships between elements of a health care system and organizational goals.
    • Explain the value of a proposed program.
  • Competency 3: Analyze how health care systems influence decision making within health care organizations.
    • Analyze the objectives of a proposed program for an organization.
    • Determine how the proposed program could affect the organization.
  • Competency 4: Communicate health care management needs, opportunities, and strategies with multiple stakeholders.
    • Recommend an ethical and evidence-based course of action.
    • Correctly format citations and references using current APA style.
    • Write content clearly, logically, and in a manner appropriate for the target audience.

 

attachment_1
attachment_2Feasibility Study

April Butler-Sullivan

Capella University

Jan. 24, 2020

 

Feasibility Study

Every organization has a future and the route through which to realize the same future. In the long term, it is essential to work within certain specific strategies to achieve particular objectives. Our organization is not exceptional, and thus the need to have a strategic plan. More so, it is critically important not only to consider the current situation but overall development in the world that will create a secure future for the organization. For growing the organization to the specific lengths, it is essential to identify the areas that will lead to the growth and be sure to exploit new avenues that will help in the realization of the organization strategy.

The organization has been working as a healthcare retailer, majoring mostly in the drugs and healthcare electronics equipment and support systems. The company was initiated a decade ago. It has been able to establish some of the leading retail stores across the major cities in the United States. The industry is dominated by major companies that have registered their presence across a vast of areas in the country. The significant organizations, however, have not exploited the market thoroughly — the opportunity for our company to grow and thrive in the market. Essentially, the organization has what it takes to take on significant companies across the market. It has the resources to reach and serve a more extensive clientele and more so be able to realize the goals. The management has offered the necessary support to various departments and thus the need to think on an outer strategy that will help the business to realize the goals.

The proposed program majorly relates to establishing an online market place for the products sold in the company. With the development of technology, it is necessary for the company to think about diversification as well as establishing some significant connection with a wide range of consumers across the globe. An online market place is necessary not only for the sales department but it will be a vital marketing boost for the company. It will provide a platform through which the company will make the world aware of the products as well as be able to link the physical shop with the larger or rather a broader reach across the globe.

Majorly the organization that tends to earn the necessary success has to understand the dynamics in marketing. It has to understand the processes that will help grow the market and necessarily reach to the best extent through which the organization will earn the best of profits in the industry. The proposed program will revolutionize the way the organization operates (Stanowska, 2018). It will advance the organization’s reach in the market, making it a company to beat when it comes to retail marketing. It will also be a great way to reach out to the other department, such as human resources. It will reduce the number of workers needed to reach marketing that is more extensive. The organization is likely to save much on accounting, as this marketplace will not suffer high costs such as rental and amenities costs, which tend to control most of the prices in the market.

Primarily, the patients and the organizations will benefit from the implementation of the system in a positive manner. They will both access the above information needed for the market. They will be able to communicate effectively and keep the record of this information. An online marketplace for the institution will be necessary to reach more customers who will translate to more sales and more visits to the organization. It will ease the processes of doing business in the organization. For the clients, it will be a one-stop shop where they can conduct their operations effectively without having to present themselves physically. They will be able to make the necessary consultations for a cost and make the required feedback on the progress. Feasibility Study Essay Assignment

Section iii

The organization’s mission is to be able to grow and expand while at the same time, offering the best services to the client base. Thus, this online virtual place will help realize the mission of the organization. It also expands on the current programs and services within the company. It makes it possible to create more reach to the services and the plans by offering a virtual place for conducting the transactions. This same thing is replicated across the industry but not in the same way, as it will be done in this organization. However, the organization hopes to achieve a competitive advantage through the quick reply strategy. The organization tends to establish a communication center that will ensure that the clientele gets a timely response on the follow-ups. It is possible to reply to the client in seconds, but the other companies may take even to hours before submitting a response to the organizations.

Implementing the program is not a walk in the park, but rather it will come with an enormous cost. First, establishing an online market place requires the involvement of the price. The organization needs to do thorough research that involves employs primary consultants who already know the trappings of the online market. There is also the cost of establishing and maintaining a secure website that is necessary for reaching the vast of people across the globe. There are also other people involved in the operations of the site and in the communication center that will be necessary for human resources. All this cost will be required in the overall functioning of the business. All these costs will be needed in the long run, though they may seem to be higher at the beginning. They will possibly affect the local economy as they come with a better return for the organization and the environment.

Various sources of funding mostly start with investing back the profits from other operations. It will be possible to sell some shares to earn or instead finance the program. Selling these shares means that you invite more stakeholders in the organization for the betterment of the organization’s future. Implementing and maintaining the program will come with a cost that slightly exceeds like 100000 dollars to develop a reliable and efficient market. This will also be necessary for reaching the online market, which is comprehensive and vast, given the essential for the growth of the company.

There are substantial marketing issues related to the new program. One such issues are the acceptance of the application in the market given the already existing platforms. People may fail to accept the product provided that other programs have dealt them some blow for the better part of the past. However, with the developing economic spectrum, it will be possible to earn the best of the marketing trapping for the better part of the organization’s future (Vaidya, 2019). There are also issues of establishing a consistent provision of information. Meeting the target base will involve using all the possible online media, including social media and blogs, a part of the overall strategy to earn the necessary success. The entire marketing strategy will be different from the other programs, as it will involve the vast knowledge and experiences gotten from working within the other systems. There is a lot of information already available. The company cannot work and perform the same mistakes performed by the companies who have in the same program in the past. Therefore, it will be critically important to consider the areas that need improvement and the necessary improvement that can be put in place for the organization.

There is, however, some regulatory implication on the organization. The organization to adhere to international law on online business. It has to adhere to issues of privacy and confidentiality and well as being ethically active in all aspects. It is necessary to have an operating license, especially where the organization needs to reach external markets. These markets have their regulations that the company needs to adhere to. However, it will be a matter of time in understanding the markets and being able to navigate through the changing times in the international market and the programs. It will not be possible to operate without tariffs and tax compliance (Rodriguez et al., 2017). Most of the online platforms do not require much licensing and certification and, thus, simple to implement. There is more space online than the physical one that helps create a better program and an efficient service provision for the organization. Feasibility Study Essay Assignment

The management of the organization has what it takes to implement the program. There is the possibility of earning more from the availing of this online platform. Therefore, it will be necessary for the management to release the required funding for the process. It is essential to identify the best consultants and developers to help through this process. Technology will be the next big thing shortly and thus the need to take up this opportunity in the least time possible. Feasibility Study Essay Assignment


References

Rodriguez, L. G., Caballero, J. M., Niguidula, J. D., Calibo, D. I., & Rodriguez, C. A. (2017, November).             eCommerce Sales Attrition: A Business Intelligence Visualization. In International Conference on        Big Data Technologies and Applications (pp. 107-112). Springer, Cham.

Singh, R. K. (2019). E-Commerce in India: Opportunities and Challenges. Available at SSRN 3315048.

Stanowska, N. (2018). An investigation into the development of Toyota’s e-commerce customer             journey. Journal of Undergraduate Research at NTU, 1(1), 146-181.

Vaidya, R. (2019). GAMIFICATION AND RESOURCE POOLING FOR IMPROVING OPERATIONAL EFFICIENCY AND EFFECTIVE MANAGEMENT OF HUMAN RESOURCES: A CASE STUDY WITH AN ECOMMERCE COMPANY. International Journal of Management (IJM), 10(6).