Week 2

Question 1

The business model canvas is the only tool for developing a business model.

TRUE/FALSE

Answer 1

FALSE

Question 2

Which of the following elements represent cells in the traditional business model canvas?
* Partner Network
* Social impact
* Key Activities
* Key Resources
* Competitors
* Cost Structures Offer(s)

Answer 2

• Partner Network
• Key Activities
• Key Resources
• Cost Structures Offer(s)
• Customer Relationships
• Dist Channels Customers
• Revenues / Revenue Streams

Question 3

The left side of the business model canvas is about resources or inputs needed to provide your offer.

TRUE/FALSE

Answer 3

TRUE

Question 4

In a traditional business model canvas, you should explain how you generate revenues.

TRUE/FALSE

Answer 4

TRUE

Question 5

The REVENUES are central to the business model canvas (and also presented in its middle)

TRUE/FALSE

Answer 5

FALSE

Question 6

A social entrepreneurial business models offer can be split between a traditional offer and a social offer.

TRUE/FALSE

Answer 6

TRUE

Question 7

Social entrepreneurial business models can have clients and beneficiaries who are the same people.

TRUE/FALSE

Answer 7

TRUE

Question 8

A traditional for-profit business model should make a distinction between clients and beneficiaries.

TRUE/FALSE

Answer 8

FALSE

Question 9

Social entrepreneurs need donations to finance their business model.

TRUE/FALSE

Answer 9

FALSE

Question 10

Financing for social entrepreneurial organizations can stem from…
* Donation
* Revenues
* All of the above
* None of the above

Answer 10

• Donations
• Revenues

Question 11

In a hybrid financing model, revenues will always equal cost.

TRUE/FALSE

Answer 11

FALSE

Question 12

In a hybrid financing model, revenues will not completely replace donations, but will complement the financing from the left side of the business model canvas.

TRUE/FALSE

Answer 12

TRUE

Question 13

Social entrepreneurial organizations and traditional for-profit companies have exactly the same items in their financial statements.

TRUE/FALSE

Answer 13

FALSE (Because social entrepreneurial organizations might have donations while for-profit companies might not)

Question 14

Social entrepreneurs often underestimate labor costs because a lot of work is performed by volunteers.

TRUE/FALSE

Answer 14

TRUE

Question 15

The linear economy is based on the following three steps: Make, Use, Dispose.

TRUE/FALSE

Answer 15

TRUE

Question 16

The circular economy is based on the following three steps: Make, Recycle, Dispose.

TRUE/FALSE

Answer 16

FALSE

Question 17

Turning perceived weaknesses into strengths is a principle that applies to social inclusion.

TRUE/FALSE

Answer 17

TRUE

Question 18

The founders dilemma describes the phenomenon that most social entrepreneurs leave their organization quickly.

TRUE/FALSE

Answer 18

FALSE

Question 19

In the eyes of investors and other stakeholders, the founder of a social enterprise is often seen as being equivalent to the organization.

TRUE/FALSE

Answer 19

TRUE

Question 20

The founders dilemma applies to both traditional for-profit entrepreneurs and social entrepreneurs.

TRUE/FALSE

Answer 20

TRUE

Question 21

Which of the following statements describes the phenomenon of “strategy follows money”?
*Social entrepreneurs strategies are implicitly or explicitly changed to satisfy funders.

Answer 21

Social entrepreneurs strategies are implicitly or explicitly changed to satisfy funders.

Question 22

The phenomenon of “strategy follows money” applies to the following entrepreneurs:

• Social entrepreneurs only
• Social entrepreneurs and traditional entrepreneurs
• Traditional for-profit entrepreneurs only

Answer 22

• Social entrepreneurs and traditional entrepreneurs

Question 23

“Strategy follows money” is a frequent trap for social entrepreneurs whereby strategic decisions are made based on perceived funding opportunities for products and services, rather than the social mission.

TRUE/FALSE

Answer 23

TRUE

Question 24

Turning perceived weaknesses into strengths is a principle that applies to social inclusion.

TRUE/FALSE

Answer 24

TRUE

Question 25

The business model canvas includes the following elements:

• Revenues
• Dangers
• Key activities
• Threats
• Competitors

Answer 25

• Revenues
• Key activities

Question 26

Can social entrepreneurial business models have differences between clients and beneficiaries?

YES/NO

Answer 26

YES