IIC Level 3

Situation-based Question: A startup is facing intense competition in its industry, and the founders are considering various strategies to differentiate themselves. What type of innovation would be most effective in this scenario?

• Disruptive innovation

• Incremental innovation

• Blue ocean innovation

• Radical innovation

Situation-based Question: A company has developed a groundbreaking technology, but they are struggling to attract investors. What should the founders focus on during their pitch to address investor concerns?

• Clearly articulate the market opportunity and potential returns

• Highlight the potential risks and challenges

• Avoid discussing the competition in the market

• Emphasize the technical details of the technology

A startup founder is considering whether to bootstrap the business or seek external funding. What factors should they weigh in making this decision?

• The speed of market entry

• Control over decision-making

• Availability of government grants

• All of the above

A startup is facing cybersecurity challenges, with concerns about protecting sensitive customer data. What should the company prioritize to enhance its cybersecurity measures?

• Conducting regular security audits

• Implementing encryption protocols

• Training employees on cybersecurity best practices

• Regularly updating hardware

Situation-based Question: A startup founder is concerned about potential ethical implications of their AI-driven product. What steps should the founder take to address ethical considerations in technology development?

• Establish an ethics committee within the company

• Engage with external ethical advisors

• Conduct regular ethical impact assessments

• Develop a code of conduct for employees

An entrepreneur is considering whether to pursue an agile or traditional project management approach for a software development project. What factor should heavily influence this decision?

• Project complexity and scope

• Team size and composition

• Funding availability

• Company hierarchy and structure

Situation-based Question: A tech startup has just developed a groundbreaking AI application but is uncertain about the potential market demand. What should the founders prioritize to validate the product's market fit?

• Focus on securing intellectual property rights

• Launch an extensive marketing campaign

• Seek additional funding for product development

• Conduct market research and gather user feedback

Situation-based Question: A tech startup is preparing to launch a new mobile app, and the development team is debating between using native or hybrid app development. What factor is most crucial in making this decision?

• Development cost

• User experience

• Time to market

• Cross-platform compatibility

Situation-based Question: A tech startup is contemplating whether to adopt a subscription-based or a one-time purchase model for their software product. What consideration should play a significant role in this decision?

• Customer loyalty

• Immediate revenue

• Market competition

• Predictable cash flow

Situation-based Question: An entrepreneur is developing a Minimum Viable Product (MVP) for their tech startup. What is the primary goal of an MVP?

• Maximize product features

• Validate key assumptions with minimal effort

• Target a broad customer base

• Secure initial funding