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Book part
Publication date: 11 July 2018

Stavros Arvanitis and Leticia Estevez

The main purpose of this chapter is to define the concept, scope and importance of a feasibility study when developing a new business venture. It also presents the main…

Abstract

Purpose

The main purpose of this chapter is to define the concept, scope and importance of a feasibility study when developing a new business venture. It also presents the main components of a feasibility study by describing a feasibility study template.

Methodology/approach

A literature review was conducted on conceptual issues and practical aspects of the feasibility analysis and study by presenting a hypothetical case of study of a boutique hotel.

Findings

This chapter highlights the importance of both feasibility analysis and study, and the main reasons why all entrepreneurs should carry them out. It presents a simple template that shows the key components of a feasibility study and also a hypothetical case of study of a boutique hotel that helps in relating the concepts and ideas previously developed.

Practical implications

This chapter introduces both theoretical and practical approaches by presenting a model or template on how to develop the feasibility analysis and study. This template can be applied at any stage of assessment process of a business project.

Originality/value

The concept of a feasibility study is accompanied by a practical template and a case study. This approach contributes to a better understanding of the value and utility of feasibility analysis and study in assessing tourism business ventures.

Details

The Emerald Handbook of Entrepreneurship in Tourism, Travel and Hospitality
Type: Book
ISBN: 978-1-78743-529-2

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Article
Publication date: 10 August 2020

Jungkun Park, Dongyoup Kim and Hyowon Hyun

The purpose of this study is to investigate the evaluation of desirability/feasibility and adoption intention for the self-service technology of “older” consumers. This…

Abstract

Purpose

The purpose of this study is to investigate the evaluation of desirability/feasibility and adoption intention for the self-service technology of “older” consumers. This study also aims to show that the evaluation of desirability/feasibility and adoption intention varies depending on the type of customer value provided by self-service technology. Moreover, the authors improve the understanding of “older” consumers by comparing the adoption behavior through three proxies that express consumer aging: chronological age, subjective age and future time perspective.

Design/methodology/approach

This study was performed as an experimental design by manipulating advertisement messages of self-service technology for online grocery shopping according to customer values. There are two analytic methods applied in this study. First, the current study compares the effects of chronological age, subjective age and the future time perspective on the evaluation and adoption intention of self-service technology by using structural equation modeling. Second, this study examines the moderation effect of customer values by conducting a multi-group analysis.

Findings

The results of current research indicate that the future time perspective explains participants’ evaluation and adoption intention of self-service technology compared to chronological age and subjective age. Specifically, participants who perceive their future time to be limited, rather than expansive, negatively assess the expected desirability and feasibility of self-service technology. In addition, the results of the moderation test show that the future time perspective affects more significantly the evaluation and adoption intention of self-service technology when the functional value is emphasized rather than emotional or social value.

Research limitations/implications

The results of this study showed that the effect of future time perspective on expected desirability and feasibility was almost significant in each sub-dimension, but there were relatively few factors influencing trial intention. In this respect, it is necessary to look into the impact of the details of desirability and feasibility along with other variables known to influence the adoption of self-service technology related to aging. It would be meaningful to find and operationalize items that are valid for older consumers, rather than the desirability and feasibility elements typically applied to self-service technology.

Originality/value

This study contributes to the extension of the socioemotional selectivity theory that has been suggested to interpret older consumers’ behaviors. This research applies the concept of future time perspective to the assessment of desirability and feasibility and adoption intention. At the same time, for the marketing managers, the comparison between proxies that represent aging proposes the ways to attract “older” consumers with appropriate emphasis on customer values.

Details

Journal of Services Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0887-6045

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Article
Publication date: 24 July 2020

Marie Ingrid Herman and Minh Thi Thai

Over the last decade, value chain for development has shown its bias towards global value chain approaches. This article proposes a holistic framework to carry out…

Abstract

Purpose

Over the last decade, value chain for development has shown its bias towards global value chain approaches. This article proposes a holistic framework to carry out feasibility analysis for the establishment of a value chain.

Design/methodology/approach

A qualitative research approach was used to collect and analyse data from a wide range of stakeholders potentially involved in establishment of a global cut-foliage value chain based on wild harvesting of ornamental ferns in New Caledonia.

Findings

Multiple feasibility analyses revealed issues that need to be addressed, priorities for different stakeholders and possible ways forward in the establishment of a value chain.

Research limitations/implications

The framework supports businesses, entrepreneurs, investors, donors and governments in proceeding with value chain establishment with significant consideration of social, economic and environmental drivers for sustainability.

Originality/value

Relevant concepts in several fields are integrated into a single framework that can guide feasibility analysis of value chain establishment.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Content available
Article
Publication date: 16 July 2020

Gregory Berry and Kareem M. Shabana

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…

Abstract

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.

Details

New England Journal of Entrepreneurship, vol. 23 no. 2
Type: Research Article
ISSN: 2574-8904

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Article
Publication date: 25 July 2008

David G. Carmichael and Maria C.A. Balatbat

The paper looks at the influence of adding more projects on overall investment feasibility under conditions of uncertainty, and how far into the future the project cash…

Abstract

Purpose

The paper looks at the influence of adding more projects on overall investment feasibility under conditions of uncertainty, and how far into the future the project cash flows should be relied upon, given that the project owner expects a reasonable level of feasibility attached to the investment.

Design/methodology/approach

The paper presents a formulation for the feasibility of the multi‐project case under uncertainty. A second order moment analysis method is adopted. Existing theory is extended to take into account the presence of multiple projects with a requirement imposed on feasibility by the project owner. In tandem with the theoretical development, example case study numerical results are presented.

Findings

With a conventional deterministic discounted cash flow analysis, the feasibility calculations change little in going from one to many projects. However with uncertainty attached, the feasibility calculations need to be reworked and become more complex, the issue of feasibility becomes less transparent on going from one to many projects, distinct feasibility transition points disappear, and feasibility is found to vary over the projects' time horizons.

Practical implications

The need for the analysis given in this paper resulted from an actual investment decision. The paper formulation provides interesting insight into feasibility calculations, and will be of use to practitioners engaged in front‐end project investment risk work.

Originality/value

The paper provides original commentary on the feasibility of multiple projects and the time‐variant nature of feasibility.

Details

Journal of Financial Management of Property and Construction, vol. 13 no. 3
Type: Research Article
ISSN: 1366-4387

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Article
Publication date: 1 March 1992

Emil Malizia

Applies, modifies and extends the basic taxonomy ProfessorGraaskamp developed for feasibility studies to present a framework forunderstanding how market analysis and…

Abstract

Applies, modifies and extends the basic taxonomy Professor Graaskamp developed for feasibility studies to present a framework for understanding how market analysis and feasibility research are carried out. Situations are modified and the relevant actors and feasibility problems applicable to each situation are identified and discussed. Finally makes explicit the role of the developer in the context of the development process and the nature of feasibility analysis that is the most appropriate for developers as clients.

Details

Journal of Property Valuation and Investment, vol. 10 no. 3
Type: Research Article
ISSN: 0960-2712

Keywords

Content available
Article
Publication date: 1 March 2017

Gregory R. Berry

This article explores the value of feasibility analysis for the pre-launch nonprofit enterprise. Similarities and differences between for-profit entrepreneurial ventures…

Abstract

This article explores the value of feasibility analysis for the pre-launch nonprofit enterprise. Similarities and differences between for-profit entrepreneurial ventures and nonprofit entrepreneurial ventures are outlined, and then the traditional format of feasibility analysis used by the entrepreneurial for-profit start-up is reviewed and analyzed. This four-stage analysis is then adapted to the needs of the nonprofit new venture enterprise. The benefits of doing a feasibility analysis for the nonprofit enterprise start-up are identified, and guidelines are suggested. An underpopulated research stream is identified and explained in this article for the start-up and early developmental phases of the nonprofit enterprise.

Details

New England Journal of Entrepreneurship, vol. 20 no. 2
Type: Research Article
ISSN: 2574-8904

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Article
Publication date: 9 July 2018

Pianpian Yang and Qingyu Zhang

This research aims to investigate how consumers’ authentic pride versus hubristic pride affects different construal levels of mind-sets and subsequent product evaluation…

Abstract

Purpose

This research aims to investigate how consumers’ authentic pride versus hubristic pride affects different construal levels of mind-sets and subsequent product evaluation by activating local versus global cognitive appraisal tendencies. Furthermore, this research also examines how lay theories impact the effects of pride on construal levels and how power moderates the effect of hubristic versus authentic pride on product preferences varying in construal levels.

Design/methodology/approach

Drawing on cognitive appraisal and construal level theories, this research conducts eight experimental studies to test the hypotheses with an ANOVA, bootstrap analysis and binary logistic regression analysis. The details of the experiments are presented in the paper.

Findings

The results show that people feeling authentic (hubristic) pride dominantly adopt a lower (higher) level of construal, and consequently put more weight on feasibility over desirability (desirability over feasibility) attributes. Authentic pride’s inclination to appeal behavior-specific appraisals triggers local appraisal tendencies and bestows lower construal levels, whereas hubristic pride’s inclination to connect the entire self triggers global appraisal tendencies and confers higher construal levels. Incremental (vs entity) theorists are likely to attribute the pride experience to their efforts (traits), and thus feel authentic (hubristic) pride. Furthermore, the product preferences of people experiencing authentic vs hubristic pride depend on their power state.

Research limitations/implications

Notwithstanding the importance of this research, it is worthwhile to note some of its limitations to encourage future research. First, eight studies in the lab were conducted, but no real behavior study was conducted. Although there is a high correlation between the results of lab studies and those of real behavior studies, the authors encourage future researches to elicit the consumers’ pride in the actual consumption situation using a real behavior study. Furthermore, this research mainly focuses on pride, and does not examine other positive emotions, e.g. happiness. Therefore, the authors encourage future research to examine other positive emotions.

Practical implications

The findings suggest that it is appropriate to use construal levels to match consumers’ pride types. In fact, marketers can induce hubristic pride or authentic pride in ads by simply using words or sentences (“feeling proud because of your hard work” or “feeling proud, you are so superior and remarkably unique”), and present either higher- or lower-level construal of desired behaviors to improve advertising effects.

Originality/value

The research contributes to literature by documenting how hubristic/authentic pride can affect distinct construal levels via activating global/local appraisal tendencies. And this research thoroughly illustrates the mechanism by which hubristic/authentic pride activates global versus local appraisal tendencies. More importantly, this research finds how lay theories affect construal level given a pride experience and it also corroborates the moderating effects of power in the proposed relationship, which establish the boundary conditions of the effects of prides on construal levels.

Details

European Journal of Marketing, vol. 52 no. 7/8
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 24 April 2020

Zainab Toyin Jagun

The feasibility and viability appraisal technique is becoming increasingly crucial in the planning systems, theory, applications and outputs for property development and…

Abstract

Purpose

The feasibility and viability appraisal technique is becoming increasingly crucial in the planning systems, theory, applications and outputs for property development and project investments. This paper aims to account for the findings of the practices associated with risk in the feasibility and viability appraisal process. Also, it examines the need for a practical framework for conducting a feasibility and viability appraisal, which can be employed by estate surveyors and valuers in Nigeria

Design/methodology/approach

This study adopted purposive sampling techniques to administer 240 sets of questionnaires, out of which 210 sets were well-thought-out to be useable for the analysis after data screening. Statistical package for social sciences (SPSS), structural equation modelling (SEM) and analysis of movement structures (AMOS) were the main analytical tools used to carry out the reliability test, normality test, exploratory factor analysis, confirmatory factor analysis, measurement and structural model.

Findings

The analysis results indicated that the P-values of the various forms of concepts of risks in feasibility and viability appraisal process (preparation) for property development and the investment market was statistically significant: technological factor - 0.000; political factor- 0.000 and economic factor- 0.000. However, a non-significant effect was found with socio-environmental factors on the preparation of housing development appraisal with P-value 0.155, and that risk management is neither holistically implemented in the feasibility and viability appraisal process nor extensively taken into cognisance.

Research limitations/implications

This paper reports the results of the practices among estate surveyors and valuers in regarding the risk associated in the preparation stages of the feasibility and viability appraisal process

Practical implications

There are limited studies that suggest risk management factors in the appraisal reports for property development. Although previous studies have identified the risk factors, there is a lack of emphasis on management, which entails identification, assessment, monitoring and control. This study, therefore, recommends the incorporation of risk management into the feasibility and viability appraisal process implemented by estate surveyors and valuers. It is envisaged that the process will protect investors from the potential risk factors associated with investments in property development.

Originality/value

The study highlighted the need for practical or empirical research to be used to assess the significant risk factors that are needed to be reflected in the preparation stages of the feasibility and viability appraisal conduct of estate surveyors and valuers in Abuja, Nigeria.

Details

Journal of Property Investment & Finance, vol. 38 no. 3
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 8 February 2016

Vegard Johansen

The purpose of this paper is to evaluate to what degree participation in mini-companies impact young women and men with regard to the perceived desirability and perceived…

Abstract

Purpose

The purpose of this paper is to evaluate to what degree participation in mini-companies impact young women and men with regard to the perceived desirability and perceived feasibility of self-employment. The Company Programme (CP) is the largest mini-company scheme in European secondary school.

Design/methodology/approach

The data derived from a survey conducted in Norway with 1,160 students in upper secondary school (17-18 years of age). The quasi-experimental research design enabled a comparison of compulsory CP-participants with non-participation and control for several competing factors.

Findings

The investigation demonstrated that CP positively influenced the perceived feasibility of self-employment for both young men and young women, and CP also increased the perceived desirability of self-employment among young women.

Research limitations/implications

It could be that the impact of CP varies according to time spent on the CP or position in the mini-company. The study does not measure whether CP-participants actually create a business.

Practical implications

Central to explaining the stronger impact on young women is a particular concern with female entrepreneurship in CP. The majority of CEOs in mini-companies are young women, and all women that manage mini-companies can participate in the coaching programme “Girls and Leadership”.

Social implications

CP-participation could boost the chance of individuals attempting to start a business at a later point in their lives. In the longer run, CP could contribute to reducing the gender gap in self-employment.

Originality/value

Investigating some of the impacts of CP in a gender perspective, this paper adds a fresh viewpoint to the state of knowledge about entrepreneurship education in secondary schools.

Details

Education + Training, vol. 58 no. 2
Type: Research Article
ISSN: 0040-0912

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