Definition (1):
Organizational feasibility analysis is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business.
Definition (2):
It defines a business’s corporate and legal structure. It can also include information on the founders’ professional background, the business’s principals, and the skills they will contribute to the functions of the business. An organizational feasibility analysis should include:
- The business structure’s description
- The organizational structure’s description
- The business’s internal and external practices and principles
- Resumes and professional skills.
There are two primary issues to consider in this area -
- Management prowess that determine the prowess, or ability, of its initial management team, whether it is a sole entrepreneur or a larger group.
- Resource sufficiency that determine whether the proposed venture has or is capable of obtaining sufficient resources to move forward.
Use of the Term in Sentences:
- They are performing an organizational feasibility analysis before launching their new business.
- You should consider all the important points while performing the organizational feasibility analysis.
- Didn’t you perform any organizational feasibility analysis before starting this business?