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Lean Startup
Lean startup is a methodology for developing businesses and products that aims to shorten product development cycles and rapidly discover if a proposed business model is viable; this is achieved by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning. Lean startup emphasizes customer feedback over intuition and flexibility over planning. This methodology enables recovery from failures more often than traditional ways of product development. Central to the lean startup methodology is the assumption that when startup companies invest their time into iteratively building products or services to meet the needs of early customers, the company can reduce market risks and sidestep the need for large amounts of initial project funding and expensive product launches and financial failures. While the events leading up to the launch can make or break a new business, it is important to start with the end in mind. This means t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Methodology
In its most common sense, methodology is the study of research methods. However, the term can also refer to the methods themselves or to the philosophical discussion of associated background assumptions. A method is a structured procedure for bringing about a certain goal. In the context of research, this goal is usually to discover new knowledge or to verify pre-existing knowledge claims. This normally involves various steps, like choosing a sample, collecting data from this sample, and interpreting this data. The study of methods involves a detailed description and analysis of these processes. It includes evaluative aspects by comparing different methods to assess their advantages and disadvantages relative to different research goals and situations. This way, a methodology can help make the research process efficient and reliable by guiding researchers on which method to employ at each step. These descriptions and evaluations of methods often depend on philosophical background ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Training Within Industry
The Training Within Industry (TWI) service was created by the United States Department of War, running from 1940 to 1945 within the War Manpower Commission. The purpose was to provide consulting services to war-related industries whose personnel were being conscripted into the US Army at the same time the War Department was issuing orders for additional matériel. It was apparent that the shortage of trained and skilled personnel at precisely the time they were needed most would impose a hardship on those industries, and that only improved methods of job training would address the shortfall. By the end of World War II, over 1.6 million workers in over 16,500 plants had received a certification. The program continued post-war in Europe and Asia, where it aided reconstruction. It is most notable in the business world for inspiring the concept of kaizen in Japan. In addition, the program became the foundation of the Toyota Production System and the DoD resourced open source Manage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zappos
Zappos.com is an American online shoe and clothing retailer based in Las Vegas, Nevada, United States. The company was founded in 1999 by Nick Swinmurn and launched under the domain name Shoesite.com. In July 2009, Amazon acquired Zappos in an all-stock deal worth around $1.2 billion at the time.Jacobs, AlexandraHappy Feet: Inside the online shoe utopia''The New Yorker''. September 14, 2009. Amazon purchased all of the outstanding shares and warrants from Zappos for 10 million shares of Amazon's common stock and provided $40 million in cash and restricted stock for the Zappos employees. Company history Inception Zappos was founded in 1999 by Nick Swinmurn. Swinmurn launched the company with Tony Hsieh and Alfred Lin,I Am CNBC Tony Hsieh Transcript CNBC. August 15, 2007. who invested $2 million thro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include ''Fortune'' and ''Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is Steve Fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pilot Experiment
A pilot study, pilot project, pilot test, or pilot experiment is a small-scale preliminary study conducted to evaluate feasibility, duration, cost, adverse events, and improve upon the study design prior to performance of a full-scale research project. Implementation Pilot experiments are frequently carried out before large-scale quantitative research, in an attempt to avoid time and money being used on an inadequately designed project. A pilot study is usually carried out on members of the relevant population. A pilot study is used to formulate the design of the full-scale experiment which then can be adjusted. The pilot study is potentially a critical insight to clinical trial design, recruitment and sample size of participants, treatment testing, and statistical analysis to improve the power of testing the hypothesis of the study. Analysis from the pilot experiment can be added to the full-scale (and more expensive) experiment to improve the chances of a clear outcome. Applic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eric Ries
Eric Ries (born September 22, 1978) is an American entrepreneur, blogger, and author of ''The Lean Startup'', a book on the lean startup movement. He is also the author of ''The Startup Way'', a book on modern entrepreneurial management. Early life While at Yale, he was co-founder of Catalyst Recruiting, an online forum for university students to network with potential employers.Venture Capital: Eric Ries, author of "The Lean Startup" ''YouTube''. November 21, 2009.Loizos, Connie “Lean Start ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Lean Startup
''The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses'' is a book by Eric Ries describing his proposed lean startup strategy for startup companies.Roush, WadeEric Ries, the Face of the Lean Startup Movement, on How a Once-Insane Idea Went Mainstream ''Xconomy''. July 6, 2011. Ries developed the idea for the lean startup from his experiences as a startup advisor, employee, and founder.Lohr, Steve ''The New York Times''. April 24, 2010.Solon, OliviaInterview: Eric Ries, Author Of The Lean Startup ''Wired''. January 17, 2012. Ries attributes the failure of his first startup, Catalyst Recruiting, to not understanding the wants of their target customers and focusing too much time and energy on the initial product launch.Loizos, Connie“Lean Startup” evangelist Eric Ries is just getting started ''Reuters''. May 26, 2011. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Discovery-driven Planning
Discovery-driven planning is a planning technique first introduced in a ''Harvard Business Review'' article by Rita Gunther McGrath and Ian C. MacMillan in 1995 and subsequently referenced in a number of books and articles. Its main thesis is that when one is operating in arenas with significant amounts of uncertainty, that a different approach applies than is normally used in conventional planning. In conventional planning, the correctness of a plan is generally judged by how close outcomes come to projections. In discovery-driven planning, it is assumed that plan parameters may change as new information is revealed. With conventional planning, it is considered appropriate to fund the entire project, as the expectation is that one can predict a positive outcome. In discovery-driven planning, funds are released based on the accomplishment of key milestones or checkpoints, at which point additional funding can be made available predicated on reasonable expectations for future success. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rita Gunther McGrath
Rita Gunther McGrath (born July 28, 1959 in New Haven, Connecticut) is an American strategic management scholar and professor of management at the Columbia Business School. She is known for her work on strategy, innovation, and entrepreneurship, including the development of discovery-driven planning. McGrath is also the founder of the innovation platforValize Life and work McGrath graduated magna cum laude from Barnard College in 1981 and earned a Masters of Public Administration from the School of International and Public Affairs, Columbia University in 1982. In 1993, she completed her Ph.D. at The Wharton School (University of Pennsylvania) with the dissertation, entitled ''Developing New Competence in Established Organizations'' consistent with her longstanding interest in corporate ventures and innovation. McGrath started her career working in government and the political arena and founded two entrepreneurial startups. After her graduation in 1993, she joined Columbia as as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harvard Business Review
''Harvard Business Review'' (''HBR'') is a general management magazine published by Harvard Business Publishing, a wholly owned subsidiary of Harvard University. ''HBR'' is published six times a year and is headquartered in Brighton, Massachusetts. ''HBR'' covers a wide range of topics that are relevant to various industries, management functions, and geographic locations. These include leadership, negotiation, strategy, operations, marketing, and finance. ''Harvard Business Review'' has published articles by Clayton Christensen, Peter F. Drucker, Michael E. Porter, Rosabeth Moss Kanter, John Hagel III, Thomas H. Davenport, Gary Hamel, C. K. Prahalad, Vijay Govindarajan, Robert S. Kaplan, Rita Gunther McGrath and others. Several management concepts and business terms were first given prominence in ''HBR''. ''Harvard Business Review''s worldwide English-language circulation is 250,000. HBR licenses its content for publication in thirteen languages besides English. Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steve Blank
Steve Blank (born 1953) is an American entrepreneur, educator, author and speaker based in Pescadero, California. Blank created the customer development method that launched the lean startup movement, a methodology that recognized that startups are not smaller versions of large companies, but require their own set of processes and tools to be successful. His Lean Launchpad class (taught as the National Science Foundation Innovation Corps, or I-Corps) has become the standard for commercialization for all federal research and has trained 1,900 teams and launched 1,000+ startups. His Hacking for Defense Class has been adopted by the U.S. Department of Defense. Biography Blank was born to immigrant parents in the Chelsea neighborhood in New York City. He has a sister Linn who is married to Maurice Karnaugh He attended the University of Michigan for one semester. Blank spent four years in the U.S. Air Force, and spent time in Thailand during the Vietnam War, where he was maintaining e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customer Development
Customer development is a formal methodology for building startups and new corporate ventures. It is one of the three parts that make up a lean startup (business model design, customer development, agile engineering). The process assumes that early ventures have untested hypotheses about their business model (who are the customers, what features they want, what channel to use, revenue strategy/pricing tactics, how to get/keep/grow customers, strategic activities needed to deliver the product, internal resources needed, partners needed and costs). Customer development starts with the key idea that there are no facts inside your building so get outside to test them. The hypotheses testing emulates the scientific method – pose a business model hypothesis, design an experiment, get out of the building and test it. Take the data and derive some insight to either (1) Validate the hypothesis, (2) Invalidate the Hypothesis, or (3) Modify the hypothesis. Many burgeoning startup companies ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
