The (re)evolution of the lean startup methodology

Abstract: This paper examines the validity and application of ‘lean startup’, a methodology developed by Eric Ries, which is now considered in the startup community as a modern approach to product development for startup companies. In comparison to other lean theories, the successful application of the lean startup methodology is brought into question, highlighting areas of the model that may need further development. Comparing lean theories to strategic management theory and the external market environment, the lack of a competition orientation is highlighted as an area in need of investigation. The findings confirm the identified gap in the literature and validate competition analysis as a recommended component of an updated lean startup methodology.