Innovation in IT
Year : 2016, Volume : 3, Issue : 1
First page : ( 38) Last page : ( 41)
Print ISSN : 2395-1192. Online ISSN : 2394-8205.

Feasibility Study

Prof. Pawar Jijai

Asst. Prof. MITSOM College, Pune

Online published on 22 January, 2018.

Abstract

Feasibility studies allow companies to determine and organize all of the necessary details to make a business work. A feasibility study helps identify logistical problems, and nearly all business-related problems, along with the solutions to alleviate them. Feasibility studies can also lead to the development of marketing strategies that convince investors or a bank that investing in the business is a wise choice. A feasibility study tests the viability of an idea, a project or even a new business. The goal of a feasibility study is to place emphasis on potential problems that could occur if a project is pursued and determine if, after all significant factors are considered, the project should be pursued. Feasibility studies also allow a business to address where and how it will operate, potential obstacles, competition and the funding needed to get the business up and running.

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