Question 1

What is the difference between the lean business plan and the traditional business plan?

Question 2

(a)What is a value proposition?

(b) There are numerous firms left in the dust because of misalignment between their value proposition (VP) and what the customer was demanding. Why? Explain. List and discuss the failure of some of the firms on this issue (mentioned in your lecture/text).

Question 3

What is the difference between pretotyping and prototyping? Explain.

Question 4

What a minimum viable product (MVP)? Explain.

Question 5

How do we build virtual MVPs? Explain.

Question 6

List and explain the various types of pivots.