MGT5LEV Leveraging Entrepreneurial Ventures
Applying Lean Start-up Methodology
How would you apply lean start-up methods to develop a start-up business opportunity or to solve a business or societal problem?
Think on a business opportunity or problem that you would like to work on, and prepare a report on how you would apply lean start-up methods in this context. An integral foundation of this assessment is to clearly articulate an appropriate start-up ecosystem in which your proposed start-up is intended.
Key points to consider:
1.Ensure you use appropriate theoretical and practice-based integration
2.Provide your definition of entrepreneurship ecosystems and lean start-up; include and justify your opinion of business plans in this process
3.Elaborate on various lean start-up models and frameworks, and justify the reason for use of a particular lean start-up method
4.Provide a concise, yet brief overview of the product or service you are proposing
5.Expand upon lean start-up techniques of “build-measure-learn”. Explain how your proposed start-up, product or service relates to these techniques and provide examples
6.Clearly define and articulate the problem you are solving, and at least one solution to the problem through processes of experiments, metrics and assumptions to add value to entrepreneurial opportunities
7.In reducing the risk of failure, articulate how you implement split testing, actionable metrics, pivot and innovative accounting principles
8.Demonstrate how your validated learning results in a minimal viable product (MVP)
9.Define, describe and provide examples of how you applied teamwork and leadership in developing your MVP
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