Question
How to respond to the following DQ answer in 250 words Lean business plans include the following: overview of what the business does; what value
How to respond to the following DQ answer in 250 words
Lean business plans include the following: overview of what the business does; what value does the company bring to the market; key partnerships, key activities your business will provide; key resources; how customers will interact with your business; who your target audience is; the cost structure you will be using; and finally, how will your business generate money.
Traditional business plan details every aspect of your company's operations, the lean business plan focuses on key factors that present immediate opportunities for new companies to gain a competitive advantage over their competitors. This allows the startups using a lean business model to stand up rather quickly and easily. However, the ease of using this type of model may not always be the best option since there is a lack of planning for the long term. Lean initiatives often fail when leaders are not able to grasp and convey the need for systemic change or to manage by process, rather than outcome(Aji & Teunissen, 2017). If leaders in the organization cannot communicate effectively with their teams, the initiatives are destined to fail prior to them beginning.
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