Practice Questions
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What is the primary benefit of conducting market validation in the Lean Startup methodology?
Market validation lets a team check that people actually want the product before spending time and money building it. Other options are incorrect beca...
How does the implementation of a Minimum Viable Product (MVP) within an Agile management framework impact the performance of a startup?
An MVP lets the startup release a simple version quickly and see how users react. Other options are incorrect because People think a small product giv...
How does validated learning contribute to achieving product-market fit in a Lean Startup methodology?
Validated learning means trying an idea, asking real customers what they think, and then fixing what doesn’t work. Other options are incorrect because...
How does the Lean Startup methodology utilize customer feedback to enhance agile management and mitigate entrepreneurial risk?
Lean Startup builds quick versions of a product, then checks how real people use it. Other options are incorrect because Assuming that detailed market...
How does the Lean Startup methodology utilize validated learning and rapid prototyping to manage entrepreneurial risk, and what is its impact on performance outcomes?
The Lean Startup lets entrepreneurs test small ideas fast, learn from real feedback, and adjust before spending much money or time. Other options are ...
What underlying cause contributes to the improved firm performance observed in companies that adopt the lean startup methodology?
The lean startup relies on hearing customers right away. Other options are incorrect because Some think lean startups spend a lot of money on ideas be...
How does the lean startup methodology impact long-term firm performance compared to traditional approaches?
Lean startup pushes teams to try tiny, quick tests that reveal whether customers want the product. Other options are incorrect because Many think lean...
Lean Startup Method : Enhanced Firm Performance :: Agile Methodology : ?
Agile teams focus on short cycles and listening to customers. Other options are incorrect because Some think Agile pushes higher prices because teams ...
Which of the following outcomes can be attributed to the adoption of the lean startup methodology in firms? (Select all that apply)
Lean startup focuses on quick tests and learning from customers. Other options are incorrect because Some think lean forces rigid steps, but it actual...
Arrange the following steps in the correct sequence to illustrate the lean startup process effectively: A) Validate learning through experiments B) Build a minimum viable product C) Measure outcomes D) Pivot or persevere based on insights
Start with a minimum viable product (MVP) so you have something real to test. Other options are incorrect because This answer thinks experiments come ...
How does the Lean Startup methodology primarily impact firm performance over time?
Lean Startup pushes quick tests called "minimum viable products" and gathers real user feedback. Other options are incorrect because Some think Lean S...
A startup has implemented the lean startup methodology by continually testing their product ideas with potential customers before fully launching them. Which category does this approach belong to in terms of performance impact?
This approach tests ideas in small steps, learns quickly, and then changes direction if needed. Other options are incorrect because The plan here is t...
The lean startup methodology focuses on __________ to test business ideas and achieve better performance outcomes.
Lean startup uses short experiments to see if an idea works. Other options are incorrect because The idea that extensive research is key can make a te...
A startup is struggling to identify the right product-market fit and is considering adopting the lean startup methodology. After implementing iterative testing of their product hypotheses over six months, they notice a significant increase in customer engagement and sales. Which principle of the lean startup methodology most directly contributed to these results?
The startup kept trying new ideas and asked real users for feedback, then changed the product quickly. Other options are incorrect because The idea of...
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