chapter 4 Flashcards
What is social entrepreneurship
a form of entrepreneurship that exhibits characteristics of nonprofits, governments, and businesses, combining private-sector focus on innovation, risk taking, and large-scale transformation with social problem solving.
describe the process of social entrepreneurship (briefly)
begins with a perceived social opportunity translated into an enterprise concept; resources are then ascertained and acquired to execute the enterprise’s goals.
Define the social Entrepreneur
a person (or small group of individuals) who founds and/or leads an organization or initiative engaged in social entrepreneurship.
Name activities what characterize the social entrepreneur:
Following activities characterize the social entrepreneurs:
o Adoption of a mission to create and sustain social
value
o Recognition and relentless pursuit of opportunities
for social value
o Engagement in continuous innovation and learning
o Action beyond the limited resources at hand
o Heightenes sense of accountability
what is Sustainable entrepreneurship
focused on the preservation of nature, life support, and community in the pursuit of perceived opportunities to bring into existence future products, processes, and services for gain, where gain is broadly constructed to include economic and noneconomic gains to individuals, the economy, and society
what is Ecopreneurship
a plan to create a sustainable future should realize its objectives through a practical, clearly stated strategy
name some of the key steps recommended by Hawken and McDonough in terms of ecopreneurship
- Eliminate the concept of waste.
- Restore accountability
- Make prices reflect costs
- Promote diversity
- Make conservation profitable
- Insist on accountability of nations
describe the Global entrepreneurs
- Are Opportunity- minded and open-minded, able to
see different points of view and weld them into a
unified focus - They rise above nationalistic differences to see the
big picture of global competition without abdicating
their own nationalities. - They have a core language plus working knowledge
of others - They confront the learning difficulties of language
barriers head-on, recognizing the barriers such
ignorance can generate - They are required to wear many hats, taking on
various assignments, gaining experience in various
countries, and seizing the opportunity to interact
with people of different nationalities and cultural
heritages
why is Global thinking important
Important because today’s consumers can select products, ideas, and services from many nations and cultures
Must be global thinkers in order to design and adopt strategies for different countries
what is Dispora Networks
relationships among ethnic groups that share cultural and social norms
Dispora Networks advantages for - global entrepreneurs:
- They speed the flow of information across borders
- They create a bond of trust
- They create connections that help entrepreneurs
collaborate within a country and across ethnicities.
name 3 Global organizations and Agreements
- The world trade organization – WTO
- The North American free trade agreement – NAFTA
- The European Union – EU
what is The world trade organization – WTO
- Established on January 1, 1995
- The “umbrella” organization governing the
international trading system
Its job is to oversee international trade arrangements, but contrary to popular belief, the WTO does not replace the General Agreement on Tariffs and Trade (GATT)
Ensures, among other things, that negotiations progress smoothly, and that the rules of international trade are correctly applied and enforced.
what is the North American free trade agreement – NAFTA
Is an international agreement among Canada, Mexico and the US that eliminates trade barriers among the three nations
It created the world’s largest free trade areas, linking 444 million people and producing $17 trillion in goods and services annually.
what is the The European Union – EU
- Founded in 1957 as the European Economic
Community and in 1992 became a full-fledged
economic union
The objectives of the EU include:
1. The elimination of custom duties among all member
states
2. The free flow of goods and services among all
members
3. The creation of common trade policies toward all
countries outside the EU
4. The free movement of capital and personnel within
the bloc
5. The encouragement of economic development
throughout the bloc
6. Monetary and fiscal coordination among all
memebers
Remains one of the major markets for American goods and services, as well as for foreign direct investment.
