Feasibility

Feasibility

Feasibility means checking whether an idea, project, or solution is possible and practical before moving forward. It looks at factors like cost, time, technology, and resources to see if something can be successfully done. If an idea isn’t feasible, it can lead to wasted effort, delays, or failure.

Why it’s important for your business

Understanding feasibility helps businesses avoid risky decisions and focus on ideas that have a real chance of success. It saves time and money by identifying problems early, so teams can adjust their plans before committing too many resources. A good feasibility check ensures that businesses invest in projects that are realistic and beneficial.

Examples

1. E-commerce: A retailer wants to offer same-day delivery but realizes, after checking feasibility, that high costs and limited delivery partners make it impractical in certain areas. They decide to start with next-day delivery instead.
2. Finance: A bank considers launching a new payment system but finds that current regulations make it too complex. After evaluating feasibility, they choose to improve their existing system instead.
3. Travel-Tech: A travel app wants to add real-time language translation for customer support but learns the technology is too expensive for now. They decide to offer chatbot-based translations as a feasible alternative.

Checking feasibility helps businesses make smarter choices, avoid failures, and focus on solutions that can actually work.

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