Which question is important in the feasibility study phase for forecasting growth potential?

In the feasibility study phase for forecasting growth potential, understanding whether there is a growth potential is crucial. This question directly addresses the core objective of the feasibility study, which is to assess whether the business has opportunities for expansion and can sustain growth in the market. It requires an analysis of market trends, consumer demand, and industry dynamics that would indicate the likelihood of successful growth.

Identifying growth potential enables the organization to make informed decisions about resource allocation, marketing strategies, and product development. It sets the foundation for evaluating the viability of new initiatives, informing stakeholders of possible returns on investment, and planning for sustainable success in a competitive environment. Without clearly determining growth potential, the feasibility study would lack the insights necessary to guide strategic planning effectively.