(M) Chapter 4: Social Entrepreneurship (lecture-based) Flashcards
the economy of a certain country is primarily affected by the activity of private organizations/businesses
capitalism
opposite of communism
capitalism
it is a group of people that are wealthy and well-connected; the selling price of a service can become unreasonable because they dominate the market
monopolies
a certain org or company becomes big, they are able to influence government decision and policies; becomes beneficial to the org and not the country; creates an unfair distribution of resources
oligarchies
Are these effects of Capitalism, positive or negative?
- Large businesses and corporations, rapid growth of different industries (Industrial revolution)
- Competition, R&D, technological advancement; improved products, services and alternatives
- Higher quality of life
Positive effects
Are these effects of Capitalism, positive or negative?
- Monopolies, Oligarchies
- Environmental costs and social issues
Negative
Primary objective of capitalism
Higher Revenues and Profits!
Social Entrepreneurship is process of creating ____ by combining resources in new ways intended primarily to explore and exploit opportunities to create ______ by stimulating social change or meeting social needs.
value
social value
It is about finding new and better ways to create and sustain social value.
social entrepreneurship
Involves the offering of services and products as well as creation of new organizations. May also occur in an established organization or refer to non- profit organizations & governments in
partnership with the private sector.
social entrepreneurship
vital to the progress of societies as entrepreneurship is vital to the progress of economies.
social entrepreneurship
They are _____ - they create large-scale change using pattern breaking ideas
change agents (social entrepreneurs)
Social entrepreneurs are AKA
Public entrepreneurs
Civic entrepreneurs
Social innovators
They apply ____, combine ____, and involve ____.
A. new technologies
B. cutting-edge research
C. innovative practices
D. deep knowledge
B C A
Social Entrepreneurs address the ____ of social problems.
root causes
They possess the ____ to create systemic change by introducing a new idea and persuade others to adopt it.
ambition
T or F. Civic entrepreneurs have a deep knowledge of their social issues area
T
An enterprise setup or driven by social goals.
Social enterprises
T or F. Social goals may not exist in organizations which are not technically social enterprises.
F (may exist)
The _______ is the most important criterion, not wealth creation.____ is only a means to an end for social entrepreneurs.
A. Wealth
B. Continuum
C. Social goals
D. Social mission
D A
social enterprises driven exclusively by producing?
social benefits
Social enterprises that are motivated by?
profitability with social benefits
Environmental Entrepreneurship and Green capitalism is under what sustainable entrepreneurship?
Ecopreneurship
3 Sustainable Entrepreneurship
- Ecopreneurship
- Social entrepreneurship
- Corporate social responsibility
Key action steps in the plan to create a sustainable future:
Eliminate the concept of __
Restore __
Make ___ reflect costs Promote ____
Make conservation___
Insist on accountability of __
waste
accountability,
prices,
diversity
profitable
nations
T or F. Under corporate social responsibility, there’s 6 key action steps in the plan to create a sustainable future.
F (ecopreneurship)
Assets Facilitating SUSTAINABILITY in Social Entrepreneurship
The Internet
Social Venture
Capitalists
Social Impact
Investing
An approach to creating economic value that also creates value for society by addressing its needs and challenges.
Shared Value and the Triple Bottom Line
Companies taking the lead in bringing business and society back together.
Shared Value and the Triple Bottom Lin
T or F. Shared value and the Triple bottom line does not connect company success with social progress.
F
T or F. A double bottom line goes beyond social responsibility or sustainability, transforming business thinking
Triple bottom line
What is the triple bottom line?
economic, environmental and social performance measures
overall net earnings
bottom line
Related to the bottom line and income flows
Economic Performance Measures
Related to natural resources and their viabilities
Environmental performance measures
Refers to social dimension of an enterprise or region
social performance measures
An accounting framework that goes beyond the traditional measures of profit, ROI, and shareholder value to include environmental and social dimensions.
Shared Value and the Triple Bottom Line
