- In your introduction, summarize the book and describe key lessons you learned. Your paper should also have a conclusion summarizing key points.
- This is NOT a collection of bullet points! It’s an essay! No need for titles to separate the sections of the paper.
- Do not use “you” or “your” in the essay. This makes assumptions of the reader and doesn’t belong in a report.
- Describe the core concepts “Validated Learning”, “Built-Measure-Learn” and “Innovation Accounting” in detail using examples found both in the book and real-life.
- Describe and give examples of Ries’s 3 Learning Milestones.
- Provide at least one example of a real company that recently pivoted that is NOT in the book.
- Describe which parts of the book’s philosophy make sense to you and which ones you think might be flawed.
- Use direct quotes from the book as well as quotes from outside sources (Make sure to cite your sources).
- When referencing the title of the book, you should use either italics or quotes.
- 1,000 word minimum, single spaced, and 12 point Times New Roman font.
Include a cover page with name, date. When referencing the title of the book, use quotes or italics.
Make sure to use approved in-text citations and include a separate page with your “Works Cited” list in MLA format. This extra page does not count towards your 1,000 word minimum. You should have more than (2) sources for this paper.
Answer preview
Moreover, build-measure-learn is another core concept that is used to turn ideas into business products and services. This process is about measuring the client’s response to establishing the short-term and long-term milestones of the business. As the concept suggests, its about building, measuring, and learning in changing business ideas into successful corporate organizations. Olsen (2015, p.116) claims that the build-measure-learn model is the fundamental element of turning ideas into sustainable business corporates. Netflix is a commercial company that employed a build-measure-learn model in 2018 by turning the production company into a subscription-based media service provider. It turned uncertainty into sustainability and earning the company stability, profitability, and future growth. Value and growth are also some of the elements that play a major role in this concept. Entrepreneurs must envision their ideas from the startup point by creating both short and long-term goals. According to Ries (85), “Every business process begins with a set of conclusions. It lays out a plan that takes those inferences…” Therefore, this concept has demonstrated what is required for entrepreneurs to turn ideas into business opportunities.
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