The paper "Feasibility Analysis of Western Australia" is a perfect example of a business case study. A feasibility test is a process undertaken by a business person who has never been to any business activity and has a business idea; therefore he will conduct a feasibility analysis to measure whether there is an opportunity of starting a business and whether the existing opportunity is promising in the future. The purpose of feasibility analysis is to enable the business person to be able to aspire on starting their own business.
It includes some of the important details that a business person will have to consider in order to start and implement a business idea. The discussion below will help to understand the feasibility analysis. It is a discussion about my idea of venturing into a tourism business. I, therefore, intend to invest in a business that will serve the tourist and, therefore, I will establish a hotel in Sydney because it has some tourist attraction sites. 3.0 Description of a specific industry Conducting a feasibility study enables one to determine the type of business they want to specialize in it.
The fact that it is a tourism industry gives one a range of choices on which business to choose. Therefore, before one chooses the types of business one must consider whether the key driving forces that will dictate the future demand are able to meet the objectives of the business. In my case, I have conducted a feasibility study, and I have decided to narrow in being a tourist operator (Barney, 1991). This is a business opportunity that I intend to specialize in it.
Being a tourist operator means providing accessibility services to the tourists, whereby the main duty is to provide a means through which the tourists will be able to reach and enjoy the attraction sites. My tourism operator job will also entail providing transport to the tourists; this will be in a quite range whereby I will have different modes of transport such as using roads, using rail, air transport and water transport. Providing accessibility as a tourist operator means I will venture into more of service provision than the product because it will be under my responsibility to provide a set of services in this case accessibility and facilities that will enable the tourist with their specific desires to have a peaceful holiday and spend their leisure time without any problems. 4.0 Key driving forces to this business Before venturing into any business, there are some factors influencing the entrepreneur towards developing the idea.
These factors always arise from the external environment whereby the business person will be influenced since they are the driving factors for a business idea. These factors will dictate whether the business will make a profit or not.
Most of these factors are the key drivers of demand. For my intended business, the following factors are the drivers towards the identification of the business idea. Increased household income; in Australia, there is a rising population of people who earn high incomes; this is a result of the increase in population and also the economic stability of the country. Due to high incomes, there is a lot of money at disposal; people are willing to spend a lot of money on leisure activities.
Some travel with their families outside the country to have fun. This case applies to other countries worldwide, whereby their economic activities are geared towards economic stability and enabling people to enjoy high incomes.
Brian King, G. H. (1989). Tourism Marketing in Australia. Hospitality Press.
Commission, A. A. (1993). Indigenous Australians and Tourism: A Focus on Northern Australia: Proceedings of the Indigenous Australians and Tourism Conference, Darwin, June 1993. Northern Territory Tourist Commission.
Jagels, M. G. (2006). Hospitality Management Accounting. john wiley& sons.
Otto, M. (2009). Feasibility Study and Future Projections of Suborbital Space Tourism . Diplomica Verlag. Copyright. .
Research, B. o. (1998). Proceedings from the Australian Tourism and Hospitality Research Conference, Part 1. Tourism.
Robert E. Stevens, P. K. (1982). How to prepare a feasibility study: a step-by-step guide including 3 model studies. In Business & Economics (pp. 16-36). Prentice-Hall.
Tonge, R. (2008). How To Conduct Feasibility Studies For Tourism Projects. Gull Publishing.
B. Prideaux, G. M. (2006). Managing Tourism and Hospitality Services: Theory and International Applications. CABI.
Buckley, R. (2010). Adventure Tourism Management. Routledge.
Greg Richards, W. M. (2010). Cultural Tourism Research Methods. CABI.
Hal, C. M. (2007). Introduction to Tourism in Australia: Development, Issues and Change. Australia: Pearson Education Australia,.
Jim Davidson, P. S. (2000). Holiday Business: Tourism in Australia Since 1870. Miegunyah Press at Melbourne University Press.
Karen Lieberman, B. N. (2008, january 1st). Ethics in the Hospitality and Tourism Industry. Business & Economics , p. 256.
Lucas, R. (2004). Employment Relations in the Hospitality and Tourism Industries. Psychology Press. Copyright.
Mike Peters, B. P. (2005). Innovation in Hospitality and Tourism. Haworth Hospitality Press.
Zhou, Z. (2004). E-commerce & Information Technology in Hospitality & Tourism. Cengage Learning. Copyright