Sustainable entrepreneurship

Question 1

Define sustainable entrepreneurship

Answer 1

Focused on preservation of nature, life support and communities, while generating opportunities for existence future products, services and processes.

Question 2

As a sustainable entrepreneur, what is their main goal.

Answer 2

they have deep commitment to social and environmental sustainability, also seek to address global challenges through innovative solutions.

Question 3

True or false, sustainable entrepreneurs only create business adventures for economic value?

Answer 3

false, they prioritize their people and planet as well.

Question 3

How is success measured?

Answer 3

not only is it measured by financial performance, also by positive social and environmental outcomes and carefully consider the actions of their stakeholders.

Question 3

what are the qualities of sustainable entrepreneurs?

Answer 3

employ creative thinking, resilience, adaptability.

Question 3

How do sustainable entrepreneurs create positive change?

Answer 3

By integrating economic, social, and environmental considerations into decision making.

Question 4

Define stakeholders.

Answer 4

They are individuals, groups, and entities that have direct or indirect interest, influence or involvement.

Question 5

True or false, stakeholders don’t have any influence with company decisions or actions?

Answer 5

False. they play a crucial role in sustainable entrepreneurship, they can be affected or be affected heavily by decisions or actions made by organizations.

Question 6

Why is important for companies to engage with their stakeholders?

Answer 6

recognizing and engaging with stakeholders allows for a great understanding of perspectives and needs, leading to success.

Question 7

What does SDG stand for, what is its significance?

Answer 7

Sustainable development goals, adopted by united nations and serves as a roadmap for addressing the worlds most major challenges.

Question 8

Stakeholders and SDG’s go hand and hand True or False.

Answer 8

true, by engaging with stakeholders, you can understand their concerns, needs, allowing for product or service development and address their concerns

Question 9

List 7 SDGs and explain their meaning?

Answer 9

No poverty - End poverty in all its forms
Good Health and Well Being - Ensure everyone lives a healthy life style
Clean water and sanitation - Ensure availability of water, keeping water clean
Life below water - conserve and sustainably use our oceans (limit plastic pollution)
Life on land - protect, restore, promote sustainable use
affordable clean energy - ensure access to affordable and clean energy
Climate action - urgent action to combat climate change impact

Question 10

What is the main goal of aligning a business with specific sdg.

Answer 10

have sense of purpose and impact.

Question 11

Describe the term systems thinking.

Answer 11

its an approach that focuses on the interconnections and interdependencies of various components.

Question 12

what are components of systems thinking?

Answer 12

-considering the system as a whole rather than individual parts
-recognizing changes in our part can have affect on others
-emphasizes examinations of relationships, feedback loops

Question 13

How do sustainable entrepreneurs tackle wicked problems?

Answer 13

break them down into manageable parts, approach challenges with a unique mindset and strategy, and understanding the root causes, conduct in depth-research, identify issues and underlying factors that contribute to overall complexity.

Question 14

What are they able to do by analyzing the problem?

Answer 14

prioritize efforts in certain areas, what issue will have the greatest impact.

Question 15

What analytical tools do sustainable entrepreneurs employ and how do they help?

Answer 15

SWOT analysis, stakeholder mapping, and looping diagrams.
helps uncover connections, feedback loops, potential interventions.

Question 16

What is a multidisciplinary approach.

Answer 16

it is an approach sustainable entrepreneurs use to draw insights from different fields and explore problems from different angles.

Question 17

Define wicked problem.

Answer 17

They are complex, hard to define, and interconnected societal issues that have no definitive solution.

Question 18

True or false, wicked problems are typically defined by clear boundaries and definitive solutions.

Answer 18

false, they lack clear boundaries, and have no definitive solutions.

Question 19

What are wicked problems known for?

Answer 19

They are known for their complexity, uncertainty, difficulty understanding root causes.

Question 20

What are the 10 properties of a wicked problem?

Answer 20

• “no stopping rule”
• solutions are not right/wrong but
  better/worse
• no immediate or ultimate test to solutions
• “one shot” solutions have consequences
• no final end to solutions
• unique
• every problem is a symptom of another
• solutions limited by “world view”
• no “right to be wrong”
• no clear definition

Question 21

how do sustainable entrepreneurs effectively navigate a wicked problem?

Answer 21

by applying critical thinking, creativity and collaboration.

Question 22

how are challenges approached

Answer 22

with an open-minded, seek new perspectives, and innovative solutions

Question 22

Define mission.

Answer 22

core purpose or reason for the existence of an individual or organization, and provides fundamental aspirations, values and goals.

Question 23

What is the main purpose of a mission?

Answer 23

discovering purpose and aligning it with business challenges. they make meaningful impact, driven by passion, values and desire.

Question 24

How do they find their mission?

Answer 24

By reflecting on their own strengths, interests, and areas of expertise.

Question 25

Collaboration plays a significant role, True or false.

Answer 25

True, sustainable entrepreneurs listen attentively to the needs and expectations of communities who are affected

Question 26

What is a Business pitch?

Answer 26

It known for being the hook or quick sentence that will strike consumers interest in the item you have to offer.

Question 27

What makes a pitch successful?

Answer 27

By clearly underlining, applying their value proposition, and communicating the problem to individuals and addressing the cause, unique solution they offer.

Question 28

Define storytelling.

Answer 28

plays a major role by engaging the audience, provides audience with a well prepared narrative, showing the bigger picture.

Question 29

Define visual aids.

Answer 29

powerful tools, they use as leverage to enhance their pitch. helps clarify complex information by using eye catching images.

Question 30

Authenticity and passion

Answer 30

key factors, show their confidence and engage their audience through a passionate mindset, creating positive change.

Question 31

What is the role in storytelling.

Answer 31

to engage emotions and convey impact.

Question 32

list and describe the three main concepts with impactful entrepreneurship?

Answer 32

Responsible innovation, sustainable business, social crowdfunding.
Responsible innovation - way organizing research and innovation for it to be ethical and creates positive societal impact.
Sustainable business - business models supports sustainability by describing, analyzing, managing and communicating a value proposition to consumers, other stakeholders.
Social crowdfunding - form of fundraising where businesses ask the public for compensation to help contribute to funding.

Question 33

How do sustainable entrepreneurs measure success?

Answer 33

by achieving balance between financial profitability, positive social impact, environmental stewardship.

Question 34

What are the several aspects that shape financial and impact dimensions of a venture.

Answer 34

Cost structure, revenue streams, subsidization, eco-social costs, and eco-social benefits.

Question 35

What is cost structure?

Answer 35

relates to the types and relative proportions of fixed costs and variable costs a business acquires. (sourcing materials)

Question 35

What are revenue streams?

Answer 35

sources of revenue or incomes for a company or business, includes projects, sales of services, and products
Two types: Recurring and Non-recurring revenue.
Recurring: source of income that is an ongoing process, set up as predictable and healthy working capital. (netflix)
Non-recurring- occasional and cannot easily be predicted (video service providers during large events)
types: services, project revenue, leasing, transactions, and copyright and licensing.

Question 36

What is subsidization?

Answer 36

its a benefit given to an individual, business, or institution, can be direct or indirect. (involves accessing funds from external sources)

Question 37

What are eco-social costs/benefits?

Answer 37

Eco-social costs and Benefits - both social and environmental. Beneficial impacts on people which results from companies activities
by purchasing automated machine it creates a social benefit for the supplier, will reduce social benefit for the buyer, won’t need as many employees.
Environmental Benefits/costs - are beneficial or harmful impacts on the natural environment. (creating solar energy benefits the environment, but generates a cost when producing and transporting materials.

Question 38

Define a Business Pitch?

Answer 38

presentation full of business ideas, action of business plans to potential clients, to persuade them your company is the right choice. (written, face-to-face, presentation)

Question 39

Why is effective communication important when pitching an idea?

Answer 39

its important to convey mission, values, and impact of their ventures. use several strategies to engage their stakeholders and audience.

Question 40

What are the benefits of using visuals in presentation?

Answer 40

help simplify complex information, make points more memorable, help tell a story, add some personality to the pitch.