Learning Path
Question & Answer1
Understand Question2
Review Options3
Learn Explanation4
Explore TopicChoose the Best Answer
A
True
B
False
Understanding the Answer
Let's break down why this is correct
Answer
Firms that use lean startup ideas—like building a minimal product, testing it with real customers, and quickly changing based on what they learn—often grow stronger because they avoid wasting money on ideas that fail. By focusing on small experiments and measuring results, they can see what works early and stop what doesn’t, which saves time and resources. This cycle of build‑measure‑learn gives the company clearer data, so decisions are based on facts instead of guesses. For example, a tech startup might release a basic app version, gather user ratings, and then add only the features that customers actually want, instead of spending months on a full‑featured version that nobody uses. Over time, this disciplined, evidence‑based approach usually leads to better products, happier customers, and higher profits.
Detailed Explanation
When a firm uses lean startup ideas deeply, it tests ideas fast, learns quickly, and changes plans based on real data. Other options are incorrect because Some think that just saying you use lean startup is enough.
Key Concepts
Lean Startup Methodology
Firm Performance
Engagement Strategies
Topic
Performance Impact of Lean Startup
Difficulty
easy level question
Cognitive Level
understand
Practice Similar Questions
Test your understanding with related questions
1
Question 1What underlying cause contributes to the improved firm performance observed in companies that adopt the lean startup methodology?
mediumBusiness
Practice
2
Question 2How does the lean startup methodology impact long-term firm performance compared to traditional approaches?
hardBusiness
Practice
3
Question 3Lean Startup Method : Enhanced Firm Performance :: Agile Methodology : ?
easyBusiness
Practice
4
Question 4How does the Lean Startup methodology primarily impact firm performance over time?
mediumBusiness
Practice
5
Question 5A 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?
easyBusiness
Practice
6
Question 6What underlying cause contributes to the improved firm performance observed in companies that adopt the lean startup methodology?
mediumBusiness
Practice
7
Question 7Lean Startup Method : Enhanced Firm Performance :: Agile Methodology : ?
easyBusiness
Practice
8
Question 8How does the Lean Startup methodology primarily impact firm performance over time?
mediumBusiness
Practice
9
Question 9A 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?
easyBusiness
Practice
Ready to Master More Topics?
Join thousands of students using Seekh's interactive learning platform to excel in their studies with personalized practice and detailed explanations.