Lecture 1,2,3

Question 1

Four traits of Social Entrepreneurship

Answer 1

1. Social market failure (reason for occurrence)
2. Mission (the fundamental purpose)
3. Resource and mobilisation (dif. approaches in managing human and financial resources, faced with more constraint)
4. Performance measurement

Question 2

The elements of entrepreneurship (PCDO framework)

Answer 2

• People and Resources
• Context
• Deal (different value transaction)
• Opportunity (desired future state)

Question 3

Why is social entrepreneurship needed?

Answer 3

• Because traditional companies don’t solve the most urgent problems (sometimes they even cause or aggravate them)
• It seems some social entrepreneurs provide better solutions for some of the world’s most challenging problems than other actors
• Government-to-government aid doesn’t solve problems. Sometimes it might even cause them.
• Because they increase the “adaptive efficiency” of societies

Question 4

What is adaptive efficiency?

Answer 4

Adaptive efficiency, therefore, provides the incentives to encourage the development of decentralized decision-making processes that will allow societies to maximize the efforts required to explore alternative ways of solving problems

Question 5

The three parts of adaptive efficiency

Answer 5

• Decentralised innovation
• Experimentation
• Problem solving

Question 6

What is social entrepreneurship?

Answer 6

Social entrepreneurs play the role of change agents in the social sector, by:

• Adopting a mission to create and sustain social value (not just private value)
• Recognising and relentlessly pursuing new opportunities to serve that mission
• Engaging in a process of continuous innovation, adaptation and learning
• Acting boldly without being limited by resources currently in hand
• Exhibiting heightened accountability to the constituencies served and for the outcomes created

Question 7

Social entrepreneurs…

Answer 7

• Put mission over profits
• Mitigate or solve societal problems
• Build business models that address the root cause of a problem
• Implement business models changing the system
• Act entrepreneurial
• Develop innovative or new approaches

Question 8

Key takeaways from the Mosan lecture

Answer 8

• Co-creation: Work closely with the people to really understand their needs
• System: Often a new product is not only a product but what is needed in a system
• Behavioural change
• Solutions don’t work in all contexts
• You don’t need to be the founder to have an impact
• Networks and contacts are important

Question 9

Theory of change is…

Answer 9

a comprehensive description and illustration of how and why a desired change is expected to happen in a particular context. It is focused in particular on mapping out or “filling in” what has been described as the “missing middle” between what a program or change initiative does (its activities or interventions) and how these lead to desired goals being achieved. It does this by first identifying the desired long-term goals and then works back from these to identify all the conditions (outcomes) that must be in place (and how these related to one another causally) for the goals to occur.