A business feasibility report can be defined as a controlled process for identifying

problems and opportunities, determining objectives, describing situations, defining

successful outcomes and assessing the range of costs and benefits associated with
several alternatives for solving a problem (Alan, 2005). The business feasibility
report is used to support the decision making process based on a cost benefit
analysis of the actual business or project viability. The business feasibility is
conducted during the deliberation phase of the business development cycle prior to
commencement of a formal business plan. It is an analytical tool that include
recommendations and limitations, which are utilized to assist the decision-makers
when determining if the business concepts is viable (Drucker, 1985); Hoagland and
Williamson, 2000; Thompson, 2003C; Thompson, 2003a).

It is estimated that only in fifty (50) business ideas are actually commercially viable.
Therefore, a business feasibility report is an effective way to safeguard against
wastage of further investment or resources (Gofton, 1997; Bickerdyke et al, 2000). If
a project is seen to be feasible from the result of the report, the next logical step is
to proceed with the full business plan. The research and information uncovered in
the feasibility report will support the business planning stage and reduce the
research time. Hence, the cost of the business plan will also be reduced. A thorough
viability analysis provides an abundance of information that is also necessary for
the business plan. For example, a good market analysis is necessary in order to
determine the business concepts feasibility. This information provides the basis for
the market section of the business plan (Bangs, 2000; Hoagland and Williamsson,
2000; Truitt, 2002; Thompson, 2003b).

Finally, a feasibility report should contain clear supporting evidence for its
recommendations. The strength of the recommendations can be weighed against
the study ability to demonstrate the continuity that exists between the research
analysis and the proposed business model. Recommendations will be reliant on a
mix of numerical data with qualitative, experience-based documentation. A business
feasibility report is heavily dependent on the market research and analysis. A
feasibility report provides that stakeholders with varying degrees of evidence that a
business concept will in fact be viable (Hoagland and Williamson, 2000; Thompson,
2003c; Wickam, 2004).

The business feasibility report places the finding of the dimensions of business
viability model assessment into a formal business report. It also aligns the findings
with functional processes of an enterprise which an audience can easily understand
(Thompson, 2003a). For the purpose of understanding the structure of a business
feasibility report, the following represents the framework of the dimensions of
business viability. - Market viability - Technical viability - Business model viability -
Management model viability - Economic and financial model viability - Exit strategy
viability Business and market analysis will contribute considerably to the business
viability feasibility report. Here, consideration is given to using traditional business
analysis techniques such as SWOT, Porters Five Forces and PEST. Although they may
not provide information which is a adequate and exhaustive to the proposed
business model, they will provide a strong starting point for future analysis.

The Dimensions of Business Viability Model is a generic framework that assists the
entrepreneur in identifying individual task in validating the business concept.

According to ____, at the core of the Business Feasibility Study decision making
process is a Business Viability Model Assessment which provides the necessary
commercial decision making data. Business viability for entrepreneurs not only
reflects the likelihood of the business venture succeeding, but also its ability to
deliver the entrepreneurial objectives such as creating wealth. In the art of business
start-ups survival and prosperity will be affected by a wide range of commercial
factors. Determining business viability is largely a subjective process and will vary
for each business venture under consideration

Business feasibility defined as a process for identifying opportunities and

problems, establishing objectives, defining successful outcomes,
describing situations and assessing the range of benefits and cost related
to several alternatives for solving a problem. The business feasibility
report is used to support the decision-making process based on a cost-
benefit analysis of the business viability. It is usually conducted during the
deliberation stage of the business development cycle before starting a
business plan activities. It is an analytical instrument that includes
recommendations and limitations, which are utilized to assist the decision-
makers in determining if the business concept is viable (Yaro, 2015).

According to Thompson, Business Viability Model Assessment is at the

core of Business Feasibility Study decision-making process. Business
Viability Model Assessment provides the necessary commercial decision-
making data. Business viability for entrepreneurs reflects not only the
possibility of the business venture to succeed but also its capability to
deliver the entrepreneurial objectives such as generating of wealth. In the
art of business start-ups, survival and prosperity will be affected by a
broad range of economic factors. Determining business viability is largely
a subjective process and will vary for each business venture under
consideration (Thompson 2013).

The business feasibility report places the finding of the dimensions of

business viability model assessment into a formal business report. It
aligns the findings with simple processes of an enterprise which an
audience can easily understand. For the purpose of understanding the
structure of a business feasibility report, the following represents the
framework of the dimensions of business viability: Market viability;
Technical viability; Business model viability; Management model viability -
Economic and financial model viability - Exit strategy viability Business
and market analysis will contribute considerably to the business viability
feasibility report. Here, consideration is given to using traditional
business analysis techniques such as SWOT, Porters Five Forces and PEST.
Although they may not provide information which is a adequate and
exhaustive to the proposed business model, they will provide a strong
starting point for future analysis.
The Dimensions of Business Viability Model analysis process are a series
of questions that consider the viability of individual requirements of the
business itself and it is only from a cumulative contribution of these
decisions that the overall business can be determined to be viable. It
discusses the strengths and weaknesses of the business model
dimensions and collectively asses the viability of the business overall. The
core dimensions of the Business Viability Model includes: Market Viability,
Technical Viability, Business Model Viability, Management Model Viability
and Financial Model Viability. Market Viability considered as the most
important factor affecting any business model and is traditionally more
tangible and quantifiable. It can be determined by measurable market
demand or market receptivity to the proposed product or services within a
target market (Baxter, 2013).