A Viability study is an in depth investigation of the

profitability In economics, profit is the difference between the revenue that an economic entity has received from its outputs and the total cost of its inputs. It is equal to total revenue minus total cost, including both explicit and implicit costs. It i ...

of the

business idea A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money. An idea is the first milestone in the process of building a successful business. The characteristics o ...

to be converted into a business enterprise.Nieuwenhuizen, C., Le Roux, E.E. and Jacobs, H., (2004). Entrepreneurship and how to establish your own business. 2nd Edition, Juta, Pretoria, RSA.

Feasibility report

This type of report studies a situation (for example, a problem or opportunity) and the plan for doing something about it, then determines whether that plan is "feasible". This would involve determining whether it is technologically possible to achieve and whether it is practical in the current technological, economical and social scenario. The feasibility report does not provide a simple "Yes" or "No" answer, but is used in the

analysis Analysis ( : analyses) is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle (38 ...

of a decision. It is not just a tool to provide a recommendation, it is also used to gather data and give reasoning behind the recommendation given, to be later used in evaluation. This study is the most important especially to people who plan to start their own business.

Recommendation report

This type of report examines either a stated need or a selection of choices, or in some cases both. The report is a collection of analysis and evaluation of the situation, and generally will examine the strengths and weaknesses, opportunities and threats in the situation, take them into account, and be combined with the feasibility report in order to give a recommendation. Sometimes a recommendation can be given to do nothing, if all options currently possible would prove unbeneficial. The recommendation report answers the question "Which option should we choose?" (or "Which are the best options?") by allowing a recommendation to be made. This can be linked into the analysis of the

continuum of choice Continuum may refer to: * Continuum (measurement), theories or models that explain gradual transitions from one condition to another without abrupt changes Mathematics * Continuum (set theory), the real line or the corresponding cardinal numb ...

in the scenario.

Evaluation report

This type of report provides an opinion or judgment rather that is based on the above two report, along with additional data available. It provides a studied opinion on the value or worth of something. This type of report compares the object of the analysis to a set of requirements (or criteria) and determines how well it meets those requirements. Generally, the evaluation report will feature an overall recommendation on the course of action to be taken.

References

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