Quiz on Lean Startup and Business Ethics

What is the primary goal of the Lean Startup approach?

• To avoid customer feedback

• To minimize product quality

• To increase the likelihood of startup success

• To create a large corporation

Which of the following is NOT a principle of the Lean Startup?

• Customer Satisfaction

• Build-Measure-Learn

• Validated Learning

• Innovation Accounting

What does a Minimum Viable Product (MVP) deliver?

• A complex solution

• The final version of a product

• Customer value

• A large profit margin

What is the first step in the Lean Startup process?

• Validating the Business Idea

• Creating a Vision Statement

• Executing the Business Idea

• Finding the Business Idea

Which of the following is a common reason startups fail?

• The product is too cheap

• The startup is too large

• There are no customers

• The product is too innovative

What is the purpose of a Vision Statement?

• To describe daily operations

• To list product features

• To outline financial goals

• To define the desired end-state

Which of the following is a characteristic of a Mission Statement?

• It is only for internal use

• It focuses on future goals

• It describes the reason for existence

• It is long and detailed

What does social responsibility in business refer to?

• Maximizing profits at all costs

• Concern for the welfare of society

• Focusing solely on shareholders

• Avoiding legal regulations

Which area is commonly tested for ethical behavior in business?

• Employee training

• Advertising

• Market research

• Product design

What is the impact of globalization on businesses?

• Decreased competition

• Increased flow of goods and services

• Higher barriers to entry

• Increased isolation of markets