ENT 601 Study Guide - Final Guide: Yield Management, Fixed Cost, Systems Integrator

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First mba program started in harvard, first graduating class in year 1910. Startups are not smaller versions of large companies. The core difference is that startups do something called search while large companies spend their time, at least their core time, executing. Before we believed that you have an operating plan and a financial model. No business plan survives first contact with customers. Step by step process that says marketing rights are requirements of what the product should do. They assume that they know what the needs of customers are from day one- Mistake that start ups do i assuming what customers want and then you add features they don"t want and waste money. Large corporations can implement new products because they know their customers. This method is wrong for start ups. Most startups fail from lack of customer. Customer development has two parts, search and execution.