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Identifying entrepreneurship readiness for the application of the Lean Startup practices in the service industry – Case study Romania
Abstract
The Lean Startup approach revealed around 2011 came as a novelty in the field of entrepreneurial management. The abbreviated version of the principles that mold the entire concept, states that instead of spending years developing a product towards perfection, a product that in the end might not even be desired by the market, the entrepreneurs should use their time more productively in understanding what clients really want. They should shape their product during the development cycle so that it would satisfy the final consumer. Based on the interviews taken for this research, the conclusion is that private company owners and managers face great challenges but also important opportunities to develop their business and change the economic life of a nation towards sustainable growth. Even though not entirely understood and still looked upon with distrust, Lean Startup is seen as an interesting methodology by Romanian entrepreneurs in the service sector who responded to this study. When promoted by keen adapters, it will go on as a valid business methodology that can lead to eliminating waste and lower the failure rate even though, now, the more trusted approach is the traditional one where the customers are met at the end of the process, after the products or services have been delivered.
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References
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