Answered: Describe the lean startup methodology

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

See similar textbooks

Related questions

Question

Describe the lean startup methodology

Expert Solution

Step 1: Define of Lean Startup methodology

The Lean Startup technique is a cutting-edge strategy for creating and expanding companies that puts an emphasis on effectiveness, adaptability, and customer-centricity. This concept, which was created by Eric Ries and described in his book "The Lean Startup," encourages the development of a Minimum Viable Product (MVP) to swiftly test hypotheses, get user input, and make data-driven choices. It's a methodical technique that places a focus on continuous improvement, verified learning, and the abolition of unproductive practices, eventually assisting startups in improving their chances of success in a fluid and unpredictable business environment.

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, operations-management and related others by exploring similar questions and additional content below.

Similar questions