Lean Startup Module 1

Who popularized the Lean Startup methodology?

• Steve Blank

• Eric Ries

• Peter Thiel

• Elon Musk

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

• Entrepreneurs are everywhere

• Entrepreneurship is management

• Innovation without validation

• Validated learning

“Validated Learning” in Lean Startup refers to:

• Learning from textbooks

• Learning from real-world experiments and data

• Learning from competitors

• Learning from mentors only

In Lean Startup, “Build-Measure-Learn” loop starts with:

• Measure

• Build

• Learn

• Test

What is a Minimum Viable Product (MVP)?

• The cheapest product available

• The simplest version of a product that allows validated learning

• A fully finished product

• The most expensive product

Which of the following is an example of a “Pivot”?

• Adding a new color option

• Changing the core business model after feedback

• Increasing production capacity

• Offering a discount

Which is NOT a SCAMPER technique?

• Substitute

• Modify

• Prototype

• Reverse

Which is the first stage of Design Thinking?

• Ideate

• Prototype

• Empathize

• Test

In Design Thinking, which stage involves framing the core problem in user terms?

• Define

• Test

• Prototype

• Empathize

A business vertical refers to:

• A company’s hierarchy

• A specific industry or niche market segment

• A marketing strategy

• A financial goal