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2nd year - 1st sem > SOCIAL ENTREPRENEURSHIP > Flashcards

SOCIAL ENTREPRENEURSHIP Flashcards

1
Q

The activity of setting up a business or businesses, taking on financial risks in the hope of profit

A

Entrepreneurship

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2
Q

The ability and readiness to develop, organize and run a business enterprise, along with any of its uncertainties in order to make profit

A

Entrepreneurship

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3
Q

In economics, ________ connected with land, labour, natural resources and capital can generate a profit

A

Entrepreneurship

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4
Q

The ______________________ is defined by discovery and risk-taking and is an indispensable part of a nation’s capacity to succeed

A

Entrepreneurship

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5
Q

Defined as someone who has the ability and desire to establish, administer and succeed in a startup venture along with risk entitled to it, to make profits

A

Entrepreneur

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6
Q

What are the types of Entrepreneurship

A
  1. Small Business Entrepreneurship
  2. Scalable Start-Up Entrepreneurship
  3. Large Company Entrepreneurship
  4. Social Entrepreneurship
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7
Q

These business are hairdresser, grocery store, travel agent, consultant, etc

A

Small Business Entrepreneurship

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8
Q

they run their own business and hire family

A

Small Business Entrepreneurship

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9
Q

They fund their business by taking small business loans

A

Small Business Entrepreneurship

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10
Q

These huge companies have defined life-cycle

A

Large Company Entrepreneurship

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11
Q

They attract investors who think outside the box

A

Scalable Start-Up Entrepreneurship

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12
Q

This type of entrepreneurship focuses on producing product and services that resolve social needs and problems

A

Social Entrepreneurship

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13
Q

Their only motto and goal is to work for society and not make any profits

A

Social Entrepreneurship

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14
Q

They require more venture capital to fuel back their project or business

A

Scalable Start-Up Entrepreneurship

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15
Q

What are the INTRODUCTION OF SOCIAL ENTREPRENEURSHIP

A
  1. UNDERSTANDING SOCIAL ENTREPRENEURSHIP
  2. THE IMPORTANCE OF SOCIAL ENTREPRENEURSHIP
  3. CHARACTERISTICS OF SOCIAL ENTREPRENEURSHIP
  4. THE SOCIAL ENTREPRENEURSHIP PROCESS
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16
Q

_____ is when an individual or a group of people take up the responsibility to solve the prevailing problems of society through business

A

SOCIAL ENTREPRENEURSHIP

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17
Q

refer as altruistic entrepreneurship

A

SOCIAL ENTREPRENEURSHIP

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18
Q

He said that “Whenever society is stuck or has an opportunity, it needs an entrepreneur to see the opportunity and then to turn that vision into a realistic idea

A

Bill Drayton

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19
Q

He said: What business entrepreneurs are to economy, social entrepreneurs are to social change

A

David Bornstein

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20
Q

hE SAID: Social entrepreneurs are a special breed of leaders

A

Greg Dee

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21
Q

WHAT ARE THE IMPORTANCE OF SOCIAL ENTREPRENEURSHIP

A
  1. CREATES OPPORTUNITIES
  2. RESHAPE CORPORATE SOCIAL RESPONSIBILITY
  3. GAIN GOVERNMENT ATTENTION
  4. INSPIRES CHANGE
  5. EMPLOYMENT OPPORTUNITIES
  6. DESIGN FOR MANUFACTURING
  7. SOCIAL AWARENESS
  8. INCLUSIVE GROWTH
  9. PROMOTES INNOVATION
  10. BETETR STANDARD OF LIVING
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22
Q

WHAT ARE THE CHARACTERISTICS OF SOCIAL ENTREPRENEURSHIP

A
  1. ACHIEVE SOCIAL CHANGE
  2. INITIATIVE INNOVATIVE
  3. CREATE VALUE
  4. CHANGE AGENT
  5. FEEL SATISFACTION
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23
Q

WHAT ARE THE PROCESS OF SOCIAL ENTREPRENEURSHIP

A
  1. FIND AN OPPORTUNITY
  2. DEVELOP A BUSINESS CONCEPT
  3. ACQUIRE THE RIGHT RESOURCES
  4. LAUNCH AND GROW
  5. ATTAIN GOALS
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24
Q

An important factor in successfully creating a business, and is often an essential part of qualifying for funding

A

Business Plan

25
what are the key elements of business plan
1. New Venture 2. Market Analysis and Sizing 3. Industry and Competitor Analysis 4. Intellectual Property 5. The Marketing Plan 6. Financing Venture 7. Idea, Entrepreneur and Market Match 8. Potential Market
26
_____________ is. a system used by businesses to analyze a potential market with the aim of finding out how viable such market is with regard to the product that the company has to offer
Potential Market Analysis
27
Ensuring that the business idea aligns with the entrepreneur's skills and the market's needs for greater chances of success
Idea, Entrepreneur and Market Match
28
Identifying funding sources such as loans, investors, or personal capital to support a business growth
Financing venture
29
Strategies for promoting the product or service, including pricing, distribution, and advertising
The Marketing Plan
30
Protecting innovations, trademarks, copyrights, and patents to maintain a competitive advantage
Intellectual Property
31
Understanding the target audience, their needs, and the potential demand for product or service
Market Analysis and Sizing
32
The group of individuals who bring the necessary skill, experience, and vision to launch and manage the new business successfully
New Venture
33
Market consist of:
1. Existing Customers 2. Prospects 3. Target Market Users
34
People who have already purchase the product
Existing Customers
35
People who have not yet purchased product but are considering it
Prospects
36
People in your target market who are not currently looking for a solution
Target Market Users
37
What are the Concept of Solving the Market Problem
1. Distribution 2. Market Segmentation 3. Pricing 4. Product 5. Promotional
38
wHAT ARE THE PROPOSED SOLUTIONS BASED ON VIABILITY, PROFITABILITY AND COSTUMER
1. Determine Market Viability for a product or Service 2. perform market research 3. analyze competitors 4. conduct a swot analysis 5. customer profitability 6. profitability of a company 7. calculating monthly net profit 8. evaluate customer service
39
Business tool used in marketing and by the marketers
Marketing mix
40
elements which organizations control and use to satisfy or communicate with customers
Traditional Marketing Mix
41
Traditional Marketing Mix
1. Product 2. Price 3. Place 4. Promotion
42
the new marketing mix
1. Product 2. Price 3. Promotion 4. Place 5. Packaging 6. Positioning 7.People
43
An item that is built or produced to satisfy the needs of a certain group of people.
Product
44
THE __________ CAN BE INTANGIBLE AND TANGIBLE AS IT CAN BE FORM OF SERVICE OR GOODS
Product
45
THE PROCESS OF DESIGNING, CREATING AND MARKETING NEW PRODUCTS OR SERVICES TO BENEFIT CUSTOMERS
PRODUCT DEVELOPMENT
46
WHAT ARE THE STEPS IN PRODUCT DEVELOPMENT
1. Generate ideas 2. screen ideas 3. develop and test ideas 4. analyze for profitability potential 5. conduct market or beta test 6. finalize technical aspect 7. finalize commercial aspect 8. conduct post launch review
47
the process of what a company will receive in exhcange for its product or service
price
48
the important element of the marketing mix.
place
49
it is also called placement or distribution, this is the process or method used to bring the product or service to the customer
place
50
agents, wholesalers, distributors, retailers they are called
intermediaries
51
all activities that involve communicating with the customers about the product and its benefits and features
promotion
52
advertising, public relations & sponsorship, personal selling, direct marketing, sales promotions
promotional mix
53
an essential ingredient in service provision; recruiting and training the right staff is required to create a competitive advantage
people
54
true or false: Customers make judgments about service provision and delivery based on the people representing your organization
true
55
an important part of the product decision making process is the design of the __________ for your product
packaging
56
physical protection, information transmission, marketing, convenience, barrier protection, security
packaging
57
is developing a product and brand image in the minds of customers.
positioning
58
__________involves emphasizing
positioning
59
It could be a low-key affairs or large scale that involve the masses
Social Entrepreneurship

2nd year - 1st sem (10 decks)

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