Will My Business Make Money - Essay Example

We are deriving from the product as compared to the total cost we are spending for developing the product. If the benefits are more or less the same as the older system, then it is not feasible to develop the product. The development of the new product should greatly enhance the accuracy of the system and cuts short the delay in the processing of the product. The errors can be greatly reduced and at the same time providing a great level of security. Hence, we do not need any additional equipment.

Operational Feasibility: It refers to the feasibility of the product to be operational. Some products may work very well at design and implementation but may fall in a real-time environment. It happens most of the time with feature films. It includes the study of additional human resources required and their technical expertise. Technical Feasibility: It refers to whether the product that is available in the market fully supports the present trend. It can be used to study the pros and cons of using a particular kind of feature film for the development and its feasibility.

It also studies the additional training need to be given to the people to make the product work. Qualitative and quantitative research is a must in developing a good feature film. Qualitative research is more of collecting data, conducting interviews, using documents, and understanding and explain the social phenomenon. Quantitative research involves is of development of natural sciences to study the natural phenomenon. Survey methods, formal methods, econometrics, etc., are some of the examples of quantitative research.

Qualitative research methods are more often used as it involves observation of data that helps in finding solutions to the problems. Qualitative research has been categorized into three categories named as positivist, interpretive and critical. Positivist research methods involve an attempt to test the theory that to understand the predictive element of the phenomena. It involves formal propositions, hypothesis testing, measuring of quantifiable variables, etc. In this type of research, it is assumed that the objectives are given in reality and can be measured by their properties.

The interpretive research method involves sharing of information and social constructions such as language. The interpretive method is used to understand the meaning of the given information that was assigned to the researchers. Critical research as the name implies concentrates more on the critical view of the subject. It highlights the critical viewpoint of the situation that has to be analyzed.