What Is the True Litmus Test for a Venture Concept

question 10

Multiple Choice

What is the true litmus test for a venture concept?

• A) Whether or not the customer sees value in the concept and is willing and able to pay for it
• B) Whether or not customers are at least willing to try your product
• C) An experiment that proves your prototype works
• D) Whether or not the customer reacts positively to the concept

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Definitions:

Inertia

The resistance to change or the tendency for objects or systems to remain in their current state without external force acting upon them.

Learning Organization

An organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights.

Organizational Change

The process through which companies or organizations undergo substantive transformations in their structures, operations, or cultures to adapt to internal or external demands.

Organizations Learn

The process by which organizations adapt and improve over time through the acquisition, transfer, and retention of knowledge.