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In: Economics

Briefly define the scientific method. Is the Customer Development Process similar to the scientific method? Why...

Briefly define the scientific method. Is the Customer Development Process similar to the scientific method? Why or why not?

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Expert Solution

The scientific method is an empirical method of knowledge acquisition that, since at least the 17th century, has characterised the development of science. It involves careful observation, rigorous scepticism being applied about what is observed, given that cognitive assumptions can distort how the observation is interpreted. It involves formulating hypotheses based on such observations via induction; experimental and measurement-based testing of deductions from the hypotheses; and refining of deductions from the hypotheses.

Customer development is a formal methodology for building startups and new corporate ventures. This is one of the three elements that make up a slim start-up. The approach assumes that early companies have untested assumptions regarding their business model.

They are similar little bit. Because both of the track businesss. In customer development process we see that reduce our business risk by challenging your assumptions about who your coustomers are what they want and how you provide etc.

In scientific method we did same but little different thing we see in scientific method we learning about our customers and help confirm that we are on track to a bussiness that works and product that people want to buy. Both method apply to business model. In scientific method we have strategy in customer development procces we have businees model.

So yes they are similar.


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