Iterative methodology

Iterative methodology
Congrats, your presentation went very well and the Board is convinced that innovation is something that they should focus on more intensively. As you’ve established yourself as the expert within the company, you’ve received the next task: You’re now supposed to present a plan on how you can create innovative solutions internally and how you can assure that you’re not creating something that no one needs. Remembering your Entrepreneurship & Innovation lecture at your business school, you’ve decided to use the Lean Startup Approach for this.

Please describe the following:

Why is the Lean Startup Method the framework that you want to implement in the company? What are Pros & Cons of using this framework? How will the approach of iterative working help you in verifying and validating a new product/service or business idea?

Complete Answer:

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