Feasibility Studies

In the new venture management literature, feasibility is an important concept identified in several phases of new venture creation: the individual behaviors or intentions necessary to be an entrepreneur; the [Page 197]arguments supporting the viability of the business idea prior to its development; and the entrepreneur-ship observed within organizations. In the following text, the concept of feasibility is analyzed within these three phases.

Studies about the individual's feasibility focus on the explanation and prediction of the entrepreneurial intentions of entrepreneurs, who create organizations to pursue opportunities, and potential entrepreneurs, who perceive one or several opportunities but have not initiated the process of creating an organization. Supported by the physiological and sociological literature, feasibility encompasses a strong element of control on behalf of the individual entrepreneur, meaning ...