Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
Building a Minimum Viable Product (MVP)
B
Conducting comprehensive market research before any product development
C
Adopting a hypothesis-driven approach to testing assumptions
D
Iterating based on customer feedback
E
Focusing solely on long-term business planning
Understanding the Answer
Let's break down why this is correct
Answer
Key principles of the Lean Startup include building a minimum‑viable product to quickly test ideas, using the Build‑Measure‑Learn feedback loop, practicing validated learning through experiments, and being ready to pivot or persevere based on data. These ideas let teams avoid costly mistakes by gathering real customer feedback early. For example, a startup might launch a simple landing page (the MVP), track sign‑ups, and decide whether to expand or change the product based on the results. By repeating this cycle, the company continuously improves and reduces waste.
Detailed Explanation
Building a MVP lets you test ideas quickly, a hypothesis‑driven test shows if assumptions are true, and using customer feedback guides the next steps. Other options are incorrect because Many people think you need deep market research before you make a product; Some believe you should focus only on long‑term planning.
Key Concepts
Lean Startup Methodology
Hypothesis Testing in Business
Minimum Viable Product
Topic
Lean Startup Methodology
Difficulty
medium level question
Cognitive Level
understand
Practice Similar Questions
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Question 3What underlying cause contributes to the improved firm performance observed in companies that adopt the lean startup methodology?
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Question 4Which of the following outcomes can be attributed to the adoption of the lean startup methodology in firms? (Select all that apply)
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Question 5How does the Lean Startup methodology primarily impact firm performance over time?
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Question 6Which of the following are key principles of the Lean Startup Methodology? Select all that apply.
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Question 7Which of the following factors are considered boundary conditions that influence the effectiveness of the Lean Startup methodology? Select all that apply.
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Question 8Which of the following best describes the role of boundary conditions in the lean startup methodology?
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Question 9Which of the following outcomes can be attributed to the adoption of the lean startup methodology in firms? (Select all that apply)
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Question 10How does the Lean Startup methodology primarily impact firm performance over time?
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