Chapter 3
Name two types of thinking used in the transformation stage.
Divergent and convergent thinking
Which logic starts with available resources and builds goals from there?
Effectuation
What is an MVP?
Minimum Viable Product
What happens during the “incubation” step?
The person steps away and reflects subconsciously.
What is bricolage in entrepreneurship?
Making do with what is at hand; improvising with limited resources.
What are the three core steps in the lean start-up cycle?
Build – Measure – Learn
In which step is prior work or education most important?
Preparation
Give one situation where causation is more effective than effectuation.
In stable environments or when pursuing clearly defined goals, e.g., franchising.
What is the key reason the lean method reduces failure?
It tests assumptions early and adjusts based on customer feedback.