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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.

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.

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.

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.

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.

This study aims to examine how entrepreneurship education influences intentions for starting a technology venture among science, technology, engineering and mathematics (STEM) students with particular attention to gender differences. This study builds on the model of entrepreneurial event and social role theory to assess the impact of entrepreneurship education on feasibility, desirability and intentions for technology entrepreneurship.

The hypotheses are tested with a sample of 879 Bulgarian science and engineering students from 15 universities. To test the models, this study uses ordinary least squares and logistic regressions with robust standard errors and Hayes mediation analysis with bootstrap bias-corrected confidence interval estimations for indirect effects. Two-stage Heckman regressions to control for sample selection bias and other robustness checks including propensity score matching were used.

Results show that entrepreneurship education, measured as participation in an entrepreneurship course, has a stronger impact on feasibility, desirability and intentions for technology entrepreneurship for female STEM students compared to their male counterparts. As such, this study supports the notion that entrepreneurship education could be part of a solution to counteract societal norms that position technology entrepreneurship as a less desirable and/or less feasible choice for women in STEM. However, attention should be paid to the operationalization of entrepreneurship education, as other measures of entrepreneurship education (role models, entrepreneurship education support) did not have a moderation effect with gender.

The authors assume a positive correlation between entrepreneurial intentions and entrepreneurial behavior. Future studies should include actual entrepreneurial behavior to paint a more complete picture of the effect of entrepreneurship education.

Little is known about the role of entrepreneurship education in the field of technology entrepreneurship, and even less about the potential gender differences in entrepreneurship education among STEM students. The study contributes to the literature by examining factors that could help close the persistent gender gap in technology entrepreneurship.

This paper aims to find out what product features become salient when consumers are exposed to many market offerings, demonstrating how choice set size influences construal mindset, which then affects the type of product consumers choose.

Experiment 1 provides preliminary evidence that being exposed to a large (vs small) choice set may drive people to focus more on the feasibility (i.e. a secondary feature) of a product and less on the desirability (i.e. a primary feature) when making a choice. Experiment 2 unveils the serial mediating roles of construal level and importance of price/design.

Consumers are more likely to select feasible (i.e. affordable) market offerings and not desirable (i.e. well-designed) ones when choosing from a large (vs small) choice set. This effect is serially mediated by mental construals and by the importance of price or design. Choosing from a large (vs small) choice set leads to low-level mental construals, which increase the importance of price (a feasibility attribute) while decreasing the importance of design (a desirability attribute), resulting in choice of feasible (affordable) market offerings over well-designed ones.

Although consumers generally focus on the desirability of a choice or an action, choosing from large choice sets makes them focus more on the feasibility of market offerings because of low-level mental construals.

In today’s era of e-commerce, as consumers are exposed to too many product offerings, retailers should emphasize the feasibility of their market offerings (e.g. affordability) to increase the chance that consumers purchase their products. This research shows that people rely very much on product price to make selections when provided with a large choice set.

To the best of the authors’ knowledge, this research is the first to show that large choice sets make consumers choose affordable products over well-designed ones and introduces the serial mediation effect of construal level and importance of price/design. Accordingly, this research establishes that large choice sets activate low-level mental construals, which associate with a feasibility mindset that ultimately makes consumers choose an affordable product instead of a well-designed one. It adds to the literature on choice overload by showing that the importance of price overshadows the importance of design (aesthetics) when people are exposed to large choice sets.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

This paper takes advantage of the decades-long literature review in Strategy to combine known data with entrepreneurial practice in undertaking the feasibility analysis.

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.

This research is conceptual and theoretical at this point, without field implementation.

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.

If adopted, this enhanced analysis may lead to greater success for new venture start-ups, thus less wasted time, energy and money.

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.