The Lean Startup by Eric Ries is a book written for entrepreneurs and talks about how startups should go about launching their business. The author says that any startup should build a Minimum Viable Product, test it, learn from it, and build the next version. It should do this often during the product development.
Write a 1500-word reflection on the principles of lean start. Reflect on what you have learnt from Lean Startup that will help you in launching your own business in the future. Also reflect on what you think could be the challenge or limitation of Lean Thinking.
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Reflect on what you think are the critical aspects of a lean startup.
Follow an essay format and cite references where applicable to substantiate your argument.
Learning Outcomes:
- Understand the impact of entrepreneurial strategic approaches and process of strategic management.
- Understand the fallacies of Strategic Planning, predetermination, detachment and of formalization.
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