Final answer:
Feasibility analysis is the process used to determine if a business idea is viable, assessing its practicality and potential success.
Step-by-step explanation:
The process of determining whether a business idea is viable is known as feasibility analysis. This critical evaluation assesses the practicality and potential success of a new business idea. In the context of design and innovation, the exploration of possibilities plays a vital role, and feasibility analysis often incorporates this step to understand the characteristics and likely advantages and disadvantages of the proposed ideas. This phase helps in making informed decisions on which ideas to pursue, ensuring they are both achievable and appropriate to the goals of the business.