Social innovation and entrepreneurship Flashcards

1
Q

Social entrepreneurship is

A

An innovative, social value creating activity that can occur within or across non-profit, business or government sectors

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2
Q

Growth of interest in social entrepreneurship due to

A
  • Retreat of state and supra-state institutions from tackling social needs directly
  • Inability of institutions to generate new and innovative solutions
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3
Q

Logic of social entrepreneurship

A
  • The world is growing and with it, so is are social issues
  • Governments struggle to solve these issues - lack of innovation, bureaucracy
  • So social entrepreneurs are enrolled to help solve
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4
Q

Examples of social enterprises - Grameen Bank

A

Founded in 1983 in Bangladesh. The bank removed the need for collateral and created a system based on accountability, mutual trust and participation. Credit is used to fight poverty, not create it. Socio-economic conditions are attempted to be improved by allowing the poor into banking orbits

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5
Q

Examples of social enterprises - One laptop per child

A

Provide each child with a rugged, low cost, low power, connected laptop. Designed hardware, content and software for collaborative, joyful and self-empowered learning

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6
Q

Examples of social enterprises - Toms shoes

A

Toms shoes operate a “one for one” policy, whereby for every pair of shoes bought, one is donated to someone in need. They have a “double bottom line” and reinvest their income from sales into improving lives

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7
Q

Commercial VS. Social

A

Commercial entrepreneurship is focussed on breakthroughs, and new needs.
Social entrepreneurship is focussed on serving basic, longstanding needs more effectively through innovative approaches

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8
Q

Difference in people/resources

A
  • Have to provide value more explicitly with a much more heterogeneous set of stakeholders than in private companies
  • Social enterprises mission often provides a common anchor for diverse shareholders
  • Social entrepreneurs may need to spend a significant proportion of time networking/fundraising
  • Duration of funding may be shorter
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9
Q

How is social entrepreneurship measured?

A
  • Performance is measured against social and financial goods
  • Simultaneous assessment of performance against: financial and shareholder performance, internal and external shareholder expectations and responsibilities
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