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Learning-by-Thinking Methods
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A startup team is evaluating two potential product ideas based on customer feedback and market trends. They decide to conduct a series of experiments to test the viability of each idea before fully investing resources. Which learning-by-thinking method are they employing, and how does it influence their decision-making process?

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A

Hypothesis-based testing, which allows them to systematically validate assumptions about the market and customer needs.

B

Intuitive decision-making, relying on gut feelings to choose the better idea.

C

Random selection of ideas, where they pick one product without analysis.

D

Group brainstorming, where they discuss ideas without any structured evaluation.

Understanding the Answer

Let's break down why this is correct

A hypothesis-based test is a way to check ideas by creating small experiments. Other options are incorrect because Intuitive decision-making relies on gut feelings that can mislead when markets are complex; Randomly picking an idea ignores data and can miss a good opportunity or waste money on a bad one.

Key Concepts

Learning-by-Thinking Methods
Decision-Making in Entrepreneurship
Hypothesis Testing
Topic

Learning-by-Thinking Methods

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hard level question

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Definition
Definition

Learning-by-thinking methods involve cognitive processes for decision-making in entrepreneurship. These methods help entrepreneurs analyze information, evaluate options, and make informed decisions based on rational thinking and analysis.

Topic Definition

Learning-by-thinking methods involve cognitive processes for decision-making in entrepreneurship. These methods help entrepreneurs analyze information, evaluate options, and make informed decisions based on rational thinking and analysis.

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