What does the term "lean startup" refer to in

entrepreneurship?

A A startup with minimal employees Correct Answer Incorrect Answer

B A startup that operates on a shoestring budget Correct Answer Incorrect Answer

C A startup that focuses on rapid experimentation and customer feedback Correct Answer Incorrect Answer

D A startup that prioritizes traditional marketing methods Correct Answer Incorrect Answer

Solution

The concept of lean startup emphasizes rapid experimentation and iterative product development based on continuous feedback from customers. Lean startups aim to minimize waste and maximize efficiency by focusing only on essential tasks and features, allowing them to adapt quickly to changing market conditions.

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CMAT

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