Applying Lean Startup Principles Quiz

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Questions and Answers

What is the fundamental activity of a startup according to the text?

  • Turning ideas into products, measuring customer response, and learning whether to pivot or persevere (correct)
  • Holding innovators accountable
  • Conducting thorough market research
  • Focusing on a good plan and solid strategy

What concept does the Lean Startup approach introduce?

  • The importance of having a fixed business plan from the start
  • The need for extensive market research
  • The concept of entrepreneur accountability
  • Validating ideas through frequent experiments (correct)

Why do startups fail according to the text?

  • Overemphasis on building sustainable businesses
  • Due to lack of solid strategy and market research (correct)
  • Innovation accounting issues
  • Not open to new ideas

What is a key aspect of the Lean Startup principles in terms of building a sustainable business?

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