Eric Ries Seminal Book Case Study - Management Assignment Help

Assignment Task:

Task:

Section 1: Long Answer. Questions (70 Marks) 'You are required to attempt the  below. This question is worth 30 marks and It is compulsory." 
1. Part 1: 15 Marks As per Eric Ries seminal book, The Lean Start Up, discuss in detail the LEARN phase of his 3 phase circular model of his book. 
In your answer, include what the real world problems are that his model is trying to address. (Approx 350 words) 
Part 2: 15 Marks 
Discuss the function as well as the importance that Validation plays in the 3 phase circular model of Eric Ries book (Approx 350 words) 
2. (25 marks) Explain In detail the purpose and strategic value of the following three activities frequently engaged in during the entrepreneurial innovation process: A. MVP (Approx 100 words) B. Brainstorming (Approx 100 words) C. Validation (Approx 100 words) 
3. (15 marks) Evaluate the Importance of Benchmarking against existing products/services and businesses when attempting to accurately forecast Cost Bases and Revenue Streams of Start-ups using t. Lean Canvas  
Make sure to draw upon evidence from your own group's business innovation experience that you worked on and presented for Pitch Day in your evaluation. (Approx 250 words) 
Section 2: Short Answer. Questions (30 Marks) 
"You are required to attempt any two (02) of the four (04) questions below. Each question is worth 15 marks." Each answer should be approximately 150 words in length. 
1. (15 marks) Why is clearly defining the PROBLEM so critical to the Enterprise Innovation process and what are 3 major consequences of failing to get it right. With hindsight, make sum to reflect on the effectiveness of your group's articulation of the Initial Problem when answering the question. (Approx 200 words) 
2. (15 marks) Why is establishing the Various Customer Segments of your SOLUTION, so instrumental in Enterprise Innovation ? (Approx 200 words) 
3. (15 marks) Provide 3 examples of each the following Metric Categories 
1. Sales Metrics 2. Marketing Metrics 3. Financial Metrics 4. Product Performance Metrics 5. Service Metrics 
4. (15 marks) Share your challenges and triumphs you experienced during the process of designing your group's UNIQUE VALUE PROPOSITION statement. 
What proved to be the most difficult challenge and what reservations, if any, did you have with the final UNIQUE VALUE PROPOSITION. (Approx 200 words) 
 

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