Asked by Jenna Mathews on Feb 18, 2024



How should an entrepreneur approach experimentation?

A) Invest high levels of time and resources and strictly adhere to the scientific method.
B) Use quick,low-cost methods of experimentation informed by scientific thinking.
C) Focus on asking lots of questions and ignore the scientific method.
D) Rely upon historical data rather than collecting experimental data.
  • Recognizing the need for a scientific approach to experimentation.
  • Balancing the investment of time and resources in experimentation.
  • Understanding the importance of experimentation in the entrepreneurial process.

Verified Answer

Reema Alhamy

Feb 18, 2024

Final Answer :
Explanation :
Entrepreneurship is all about taking risks and trying new things. Experimentation is vital in determining what works and what doesn't work. However, an entrepreneur needs to be mindful of their limited resources and time. Therefore, option B is the best approach as it allows the entrepreneur to use quick, low-cost methods of experimentation informed by scientific thinking. This will allow the entrepreneur to quickly gather data and insights, iterate and adapt their business model, and ultimately increase the chances of success.