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HEC > Week 3 > Flashcards

Week 3 Flashcards

1
Q

As a social entrepreneur, only the measure of social impact matters.

TRUE/FALSE

A

FALSE

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2
Q

The measurement of financial performance is as objective as the measurement of social impact.

TRUE/FALSE

A

FALSE

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3
Q

Both financial performance and social impact are measured based on generally accepted principles, such as IFRS norms and the UN Global Goals.

TRUE/FALSE

A

FALSE

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4
Q

Social Entrepreneurs are the only organizations that aim to have a social and/or economic impact.

TRUE/FALSE

A

FALSE

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5
Q

Due to an increasing pressure from various stakeholders, such as NGOs and consumers, traditional for-profit companies have started addressing the issue of social and economic impact.

TRUE/FALSE

A

TRUE

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6
Q

Who is interested in the social impact that you measure as a social entrepreneur?
* Foundations
* Governments
* Impact investors

A
  • Foundations
  • Governments
  • Impact investors
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7
Q

Social impact can take very different forms depending on the sector in which your social enterprise operates.

TRUE/FALSE

A

TRUE

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8
Q

What are the benefits of a social measurement system?

  • It helps to convince donors that their money is well invested in your social enterprise
  • It will allow you to better track your progress in achieving your social mission
  • It is a competitive advantage when competing for funding with other social entrepreneurs
A
  • It helps to convince donors that their money is well invested in your social enterprise
  • It will allow you to better track your progress in achieving your social mission
  • It is a competitive advantage when competing for funding with other social entrepreneurs
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9
Q

Social impact measurement is useful for reporting progress towards social mission to external stakeholders and has little use internally, within your social enterprise.

TRUE/FALSE

A

FALSE

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10
Q

Who is interested in the social impact that you measure as a social entrepreneur?
* Foundations
* Governments
* Impact investors
* All of the above

A
  • Foundations
  • Governments
  • Impact investors

All of the above

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11
Q

Which of the following steps are useful to design a social impact measurement system?

  • Stakeholder mapping
  • Definition of different impacts
  • Understand Scope & Magnitude (Theory of Change)
  • Defining key performance indicators
  • Measurement system Design
A
  • Stakeholder mapping
  • Definition of different impacts
  • Understand Scope & Magnitude (Theory of Change)
  • Defining key performance indicators
  • Measurement system Design
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12
Q

Stakeholder mapping is one of the last two steps to develop a social impact measurement system.

TRUE/FALSE

A

FALSE

Its the first

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13
Q

The idea behind stakeholder mapping is that you must understand the different stakeholders of the social enterprise before you can define the impacts.

TRUE/FALSE

A

TRUE

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14
Q

After mapping stakeholders, you should work to define, as precisely as possible, the different impacts you have on different stakeholders.

TRUE/FALSE

A

TRUE

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15
Q

Mapping the impact you have on all of your stakeholders is the THIRD step to stakeholder mapping

TRUE/FALSE

A

FALSE

It is the second

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16
Q

To develop a theory of change, you need to map your stakeholders.

TRUE/FALSE

A

TRUE

17
Q

The sum of theoretical assumptions to develop an appropriate social impact measurement system is called theory of change.

TRUE/FALSE

A

TRUE

18
Q

Key performance indicators (KPIs) used to measure social impact need to have a clear link to the social entrepreneur’s theory of change.

TRUE/FALSE

A

TRUE

19
Q

When deciding on a measurement design, the gold standard for tackling the attribution error is through randomized control trials (RCTs).

TRUE/FALSE

A

TRUE

20
Q

A randomized control trial (RCT) can require that beneficiaries are randomly assigned to treatment and control groups.

TRUE/FALSE

A

TRUE

21
Q

Social entrepreneurs should use randomized control trials to measure their social impact.

TRUE/FALSE

A

FALSE

22
Q

It is important for social entrepreneurs to measure and monitor all potential impacts.

TRUE/FALSE

A

FALSE

23
Q

Ticket for Change and Euforia use the same social impact measurement design.

TRUE/FALSE

A

FALSE

24
Q

Consider a social entrepreneur selling mosquito nets, measuring the number of nets sold was…

  • Not the best measure of social impact because this did not decrease the number of malaria cases in the region at all.
  • The best measure of social impact.
  • Not the best measure of social impact because it does not account for the way people used the nets.
A

Not the best measure of social impact because it does not account for the way people used the nets.

25
Q

Which of the following steps is useful to design a social impact measurement system?

  • Definition of different impacts
  • Key competitor analysis
  • Measurement system design
  • Cost-benefit analysis
A
  • Definition of different impacts
  • Measurement system design
26
Q

What are the benefits of a social measurement system?

  • It is necessary in many countries to comply with the law
  • It will allow you to better track your progress in achieving your social mission
  • It helps to convince donors that their money is well invested in your social enterprise
A
  • It will allow you to better track your progress in achieving your social mission
  • It helps to convince donors that their money is well invested in your social enterprise
27
Q

Financial performance can be measured objectively based on generally accepted principles, whereas there are no generally accepted principles for measuring social impact.

TRUE/FALSE

A

TRUE

HEC (4 decks)

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