The Lean Start Up
Atlantis University.
Master in Business Administration.
MBA 671 Information Technology Systems based Management.
Professor: Richard Chance Week 4
Essay: The Lean Startup methodology.
Miguel Beatrice.
Abstract. "Lean Startup" is a methodology for developing businesses and products first proposed in 2011 by Eric Ries. Based on his previous experience working in several US startups, Ries claims that startups can shorten their product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and what he calls "validated learning". Ries' overall claim is that if startups invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures. The Lean Startup provides a scientific approach to creating and managing startups and get a desired product to customers' hands faster. The Lean Startup method teaches you how to drive a startup-how to steer, when to turn, and when to persevere-and grow a business with maximum acceleration. Lean methods reduce the risk inherent in otherwise risky ventures through a cycle of validating hypotheses to prove assumptions about the market. Because the methods reduce risk, it was assumed that lean startups should see higher success rates than traditional startups, now referred to as “fat startups”. This was not proven empirically, suggesting that perhaps lean startups methods are not appropriate for use under all circumstances.
The lean startup philosophy is based on lean manufacturing, the streamlined production philosophy developed in the 1980s by Japanese auto manufacturers. The lean manufacturing system considers as waste the expenditure of resources for any goal other than the creation of value for the end customer, and thus a target for
Master in Business Administration.
MBA 671 Information Technology Systems based Management.
Professor: Richard Chance Week 4
Essay: The Lean Startup methodology.
Miguel Beatrice.
Abstract. "Lean Startup" is a methodology for developing businesses and products first proposed in 2011 by Eric Ries. Based on his previous experience working in several US startups, Ries claims that startups can shorten their product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and what he calls "validated learning". Ries' overall claim is that if startups invest their time into iteratively building products or services to meet the needs of early customers, they can reduce the market risks and sidestep the need for large amounts of initial project funding and expensive product launches and failures. The Lean Startup provides a scientific approach to creating and managing startups and get a desired product to customers' hands faster. The Lean Startup method teaches you how to drive a startup-how to steer, when to turn, and when to persevere-and grow a business with maximum acceleration. Lean methods reduce the risk inherent in otherwise risky ventures through a cycle of validating hypotheses to prove assumptions about the market. Because the methods reduce risk, it was assumed that lean startups should see higher success rates than traditional startups, now referred to as “fat startups”. This was not proven empirically, suggesting that perhaps lean startups methods are not appropriate for use under all circumstances.
The lean startup philosophy is based on lean manufacturing, the streamlined production philosophy developed in the 1980s by Japanese auto manufacturers. The lean manufacturing system considers as waste the expenditure of resources for any goal other than the creation of value for the end customer, and thus a target for
References: http://hbr.org/2013/05/why-the-lean-start-up-changes-everything http://theleanstartup.com/principles http://www.quora.com/Startup-Failure/Why-do-startups-fail/answer/Jen-Bekman http://agilemanifesto.org http://www.scribd.com/doc/139140945/Applicability-of-Lean-Startup-Methods http://www.livestream.com/disrupt/video?clipId=pla_7b12743e-b022-4096-8132-7df8b60abc8b http://myatlantisuniversity.org/mod/assign/view.php?id=11386 www.agilealliance.org/the-alliance/what-is-agile http://blog.fastfedora.com/2011/11/6-business-model-canvases-from-startup-weekend.html http://bmimatters.com