Adding a strategic lens to feasibility analysis

Artikel

Purpose - Traditional feasibility analysis is focused on the immediate and urgent needs of a new venture start-up. All four parts of the feasibility analysis (product/service, industry/market, organizational, and financial) are valuable and essential, but what is missed is a part that provided attention to the longer-term requirements for success and sustainability. A fifth strategic feasibility analysis is needed, focused on the long-term sustainability of the new venture. This strategic/contingent context-dependency lens considers the organization's long-term survival, confirming that organizational success depends on the new venture's ability to emphasize its uniqueness and fit with its external environment. Design/methodology/approach - This paper takes advantage of the decades-long literature review in Strategy to combine known data with entrepreneurial practice in undertaking the feasibility analysis. Findings - This enhanced feasibility analysis adds a strategic lens beyond the traditional four-part feasibility analysis, resulting in identifiable value-added benefits and awareness of potential opportunities or threats in the longer term. Research limitations/implications - This research is conceptual and theoretical at this point, without field implementation. Practical implications - New venture failure is an ongoing concern for many. This suggested strategic lens, especially the sustainability aspect (beyond the "what-do-we-need-to-do-to-open-the-doors" of much feasibility analysis) may prove very useful. Competitive advantage is examined in the traditional feasibility analysis, but this strategic lens suggests a longer term examination, and engages with competitor response. Social implications - If adopted, this enhanced analysis may lead to greater success for new venture start-ups, thus less wasted time, energy and money. Originality/value - This is the first attempt at adding a focused strategic lens to the traditional entrepreneurial feasibility analysis. This may seem like a simple and elementary shift of perspective, but the implications are huge, and take advantage of the decades-long research stream in strategic thinking and planning.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: New England Journal of Entrepreneurship (NEJE) ; ISSN: 2574-8904 ; Volume: 23 ; Year: 2020 ; Issue: 2 ; Pages: 67-78 ; Bingley: Emerald

Classification and Topics

• Classification: Management
• Subject: Competitive advantage ; Feasibility analysis ; Strategic analysis ; Sustainability

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Berry, Gregory ; Shabana, Kareem M.
• Event: Veröffentlichung
• (who): Emerald
• (where): Bingley
• (when): 2020

Further information

• DOI: doi:10.1108/NEJE-08-2019-0036
• Handle: http://hdl.handle.net/10419/238771
• Last update: 10.03.2025, 11:42 AM CET