Beyond Profit: The Role of Economic, Social, and Political Aspects in Business Feasibility Studies

Abstract

Business feasibility has traditionally been evaluated through financial and economic indicators. However, the increasingly dynamic business environment requires organizations to consider broader dimensions that influence long-term investment success. This study aims to develop an integrated perspective on business feasibility by synthesizing economic, social, and political dimensions within a unified conceptual framework. The study employed a qualitative conceptual research design using an extensive literature review as the primary data source. The collected literature was analyzed through a thematic–conceptual synthesis approach to identify key themes, examine relationships among concepts, and construct an integrated business feasibility framework. The findings indicate that economic feasibility provides the foundation for identifying market opportunities and financial potential, social legitimacy strengthens stakeholder acceptance and organizational resilience, while political certainty establishes the institutional stability necessary for sustainable business operations. Rather than functioning independently, these dimensions interact dynamically throughout the investment decision-making process