My observations from working with enterprises attempting to implement lean startup (or agile) methodology and not quite getting the point.

They missed the "product-market fit" portion!

The arrow flowing from market into the person at the bottom is "product market fit", Greg.

I wouldn't include PMF here. Waterfall just shows delivery. Quantitative data matched with Qualitative research shows PMF.

Where does delivery fit with product-market fit? Without delivery, there is no product.

Here's the money quote:

The Agile Manifesto states:

Our highest priority is to satisfy the customer through early and continuous delivery of valuable software.

But what is value? Value is determined by the customer in the act of paying for a product.

That's good. As a follow-up I'd like the definition of happiness, please.

Because a customer shouldn't just be satisfied; a customer should be happy.

me too!  We want to bring happy times with better security at itSoftware. 

I think for businesses really thinking about happiness the simplest thing is to ask "Are you creating more value than you capture?"

Some businesses just capture value. That's not happiness. It's paying patent trolls to go away. It's paying fees for red tape. It's being deliberately scared by a company and buying insurance to make you feel mildly better.

It's extortion.

Also...Net Promoter Score is pretty good.

It's interesting to define happiness in terms of creating value.

Some businesses create happiness by evoking emotions. Do emotions have value? I guess they do.

I would consider emotions the only thing of value! Of course some emotions are negative value, I wouldn't throw them in the bucket of awesomeness.

Oh. I thought by creating value you meant getting people paid, enabling romantic hook ups, etc.

Those things are only valuable because someone cares about them.

Getting paid has value without emotion, right?

How many people do you know who feel emotionally numb when they get their paycheck?

People that don't derive ego gratification and self worth (or worthlessness.)

I see your point. Money alone is not enough.