Feasibility Study for an Orthopedic Hospital

Paper Summary:

The paper discusses the five data sources that should be reviewed and consulted in a feasibility study for an orthopedic hospital in Chicago and notes that conducting a feasibility study for an orthopedic hospital requires even more data research than these five sources. The paper concludes by summarizing the purpose of having a detailed feasibility study.

Outline:
Data Source 1: Data Describing Size and Scope of the Orthopedic Hospital Industry in Chicago
Data Source 2: Competitiveness of the Industry in Chicago
Data Source 3: Data on Market Potential
Data Source 4: Data Describing Sales Projections
Data Source 5: Data Describing Marketing Costs
Conclusion

From the Paper:

"The major purpose of any feasibility study is to examine the potential of a business venture, especially a large scale venture requiring large amounts of capital. The goal is to study every possible factor in the potential success or failure of the venture and attempt to determine whether or not the venture is worthwhile and can yield the necessary results. Most feasibility studies are highly detailed, especially for larger projects. It makes sense to conduct a feasibility study, as the resources required for such a study are far less than the resources that would be lost on a failed venture. Regardless of the outcome, if a business first conducts a detailed feasibility study, it is helping to ensure that investor money will not be lost on a unprofitable project (Tatum, 2008)."

Sample of Sources Used:

• Hofstrand, D. (2006). What is a feasibility study? Retrieved November 13, 2008, fromhttp://www.extension.iastate.edu/agdm/wholefarm/html/c5-65.html
• Hofstrand, D. (2006). Feasibility study outline. Retrieved November 13, 2008, fromhttp://www.extension.iastate.edu/agdm/wholefarm/html/c5-65.html
• Tatum, M. (2008). What is a feasibility study? Retrieved November 13, 2008, from http://www.wisegeek.com/what-is-a-feasibility-study.htm
• Witt, W. (2008). Feasibility studies. Retrieved November 13, 2008, from http://www.feasibilitystudyexpert.com/
• Wolfe, L. (2008). Feasibility study course lesson 3 - how to write a technical feasibility study. Retrieved November 13, 2008, from http://womeninbusiness.about.com/od/startingasmallbusiness/a/techfeasibility.htm

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