Purpose of Our Business

Question 1

Social Entrepreneurship

Answer 1

Social entrepreneurship is about creating better conditions for people through the creation or discovery of new opportunities.

Question 2

Two Elements of Social Entrepreneurship

Answer 2

There is the social side and the financial side. The social side focuses on making the world a better place and is a voluntary sector. This is also known as a non profit.

The financial side focuses on on financial objectives such as making a profit as the ultimate goal at the same time focusing on social objectives.

Question 3

Pure social entrepreneurial activity

Answer 3

This is where the individual launches or runs a social organisation that has no commercial activities

Question 4

Pure commercial entrepreneurial activity

Answer 4

This is where the individual launches or runs a commercial organisation that has no particular social goals only economic goals.

Question 5

Overlapping social and commercial entrepreneurial activity

Answer 5

This is where the individual launches or runs a commercial organisation that is both commercial (making a profit) and social in nature.

Question 6

Simultaneous and commercial entrepreneurial activity

Answer 6

This is where the individual runs / launches both a social and commercial organisation which are operated as separate entities.

Question 7

Tradition Ventures

Answer 7

These are the companies whose primary focus is economic and achieve this by maximising profit and revenue by recognising and capturing value in the market.

Question 8

Social Consequence

Answer 8

This ventures are those that have an economic mission but also have a firm commitment to social impact.

Question 9

Social purpose venture

Answer 9

These venture firms seek to make profit from a business that was originally started as a social mission.

Question 10

Enterprising Non Profit

Answer 10

These are companies who offer goods and services that generate income however this revenue is used towards a social problem instead of being returned to investors or the owners.

Question 11

Hybrid Ventures

Answer 11

These firms pursue both social and economic goals equally.