ENTR CHP 4
Estimates are that the SVC (social venture capitalist) market could grow to ______ due to the rise of more socially conscious entrepreneurs looking for impact investment opportunities.
$3 trillion
______ can seek investment from social venture capitalists known as impact-investment funds.
Both nonprofit and for-profit organizations
Which of the following is NOT true of wicked problems?
Every wicked problem is essentially the same.
A CEO is an example of a discretionary stakeholder.
F
A company striving to improve environmental well-being in order to improve their brand and image is engaging in social entrepreneurship.
F
A company where improving social issues is core to its mission is engaged in corporate social responsibility.
F
Achates Power Inc, a company that develops an improved internal combustion engine that increases fuel efficiency, is an example of a work integrations social enterprise (WISE).
F
CSR helps improve social issues but often at the expense of business issues.
F
It is not possible for enterprising nonprofits to use both venture philanthropy funding and earned-income activities.
F
It's common for all stakeholders to be in immediate agreement in the context of social entrepreneurship
F
Organizations using the hybrid model of social entrepreneurship prioritize social goals over economic goals.
F
Stakeholder attributes are relatively fixed.
F
There are no downsides to the "buy-one, give-one" business model.
F
Ventures with social consequence and social purpose are the same type of venture.
F
______ behave in ways that are appropriate, proper, and desired in the context of the organization or community.
Legitimate stakeholders
A refugee crisis is an example of a wicked problem.
T
According to the typology of ventures, there are four types of models: traditional, social purpose, social consequence, and enterprising nonprofits.
T
Earned income activities are the sale of products or services that are used as a source of revenue generation.
T
Issues relating to the environment, poverty, sustainability, equality, education, child mortality, sanitation, terrorism, and health and wellness are all examples of wicked problems.
T
It is possible for venture philanthropists to provide nonfinancial support.
T
Labor unions can be considered a stakeholder in the context of entrepreneurship.
T
Large, complex social problems where there is no clear solution are described as wicked problems.
T
Microloans are small short-term loans given to people living in poverty that enables them to engage in entrepreneurship.
T
Organizational capacity building is a feature of venture philanthropy.
T
Social entrepreneurs must continuously monitor stakeholders and maintain relationships with them.
T
Social entrepreneurs use the fundamental principles of entrepreneurship to build businesses of economic and social value.
T
The "buy one give one" campaign of companies wanting to be socially aware may be causing more problems than the problem they are trying to solve. For example, Tom's Shoes might actually be injuring the local businesses as it stifles local industry and potentially increases local unemployment in the country getting the give-away shoes.
T
The Woodland Park Zoo selling animal waste as fertilizer in order to reduce waste and generate revenue is an example of an earned-income activity.
T
Typically the goal of venture philanthropy funding is to provide financial support for three to five years with the result of enabling the venture to eventually become financially independent.
T
Which of the following is an example of a wicked problem?
a community attempting to prevent terrorism
A NGO is ______.
a nongovernmental organization
Which of the following is an example a wicked problem?
a venture striving to reduce childhood mortality
Which of the following is an example of a work integration social enterprise?
a venture that hires out employees with autism
Which of the following is an example of a work integration social enterprise?
a venture that provides educational services for women in prison
Which of the following is an example of a work integration social enterprise?
a venture that trains former gang members to be personal trainers
A work integration social enterprise (WISE) is a social enterprise that ______.
aims to integrate people who have been socially excluded into work and society through productive activity
Which of the following is a business benefit of CSR?
all of these
Which of the following is an example of a wicked problem? ALL
all of these
In the context of social entrepreneurship, stakeholders refer to ______.
all the people or groups effected by or involved with the social enterprise's objectives
Social entrepreneurs and traditional entrepreneurs are similar in that ______.
both identify opportunities
The aim of a social purpose venture is to ______.
both resolve a social problem and make a profit
In enterprising nonprofits, ______.
both the venture mission and the market impact are for social purposes
Dr. G. Venkataswamy was able to treat tens of millions of patients in India through his Aravind Eye Care System by ______.
building his own manufacturing plan that used less expensive technology
Venture philanthropy funding ______.
combines financial assistance with a high level of engagement by the funder
CSR stands for ______.
corporate social responsibility
Robert has power and a strong sense of urgency but he has been known to use this power to coerce and manipulate. Social issues can be emotive and he can be a hindrance for resolution. Robert is an example of a ______.
dangerous stakeholder
Stakeholders who possess both power and urgency but may use their power to coerce are considered ______.
dangerous stakeholders
Alison possesses power, legitimacy, and urgency. She usually has a significant role to play in an organization and must be given priority when it comes to handling her issues. Alison is an example of a ______.
definitive stakeholder
Stakeholders who posses power, legitimacy, and urgency are considered ______.
definitive stakeholders
Jing has no power or legitimacy; she is quite often the only dissenting voice in the room. Jing is an ideal example of a ______.
demanding stakeholder
Stakeholders who possess the urgency attribute but have no power or legitimacy are considered ______.
demanding stakeholders
Janell has the sense of urgency and is legitimate but she does not have the power to influence. She is passionate and her passion usually attracts dominant stakeholders. Janell is an example of a ______.
dependent stakeholder
Stakeholders who have both urgency and legitimacy but lack the power to influence are considered ______.
dependent stakeholders
Judge Holder has no power to influence and has no urgent claims, but she does have legitimacy by using her influence. Judge Holder is an example of a ______.
discretionary stakeholder
Stakeholders who hold no power to influence and no urgent claims but who have legitimacy are considered ______.
discretionary stakeholders
Michele has both power and legitimacy. You would be wise to communicate with her regularly and respond to her queries efficiently and accurately to maintain a good relationship with her. Michele is an example of a ______.
dominant stakeholder
Stakeholders who have power, legitimacy, and strong influence are considered ______.
dominant stakeholders
Donald likes to hold power but does not tend to use that power unless he is given a reason to do so. Donald is an example of a ______.
dormant stakeholder
Stakeholders who hold power but do not tend to use that power unless they are given a reason to do so are considered ______.
dormant stakeholders
The Woodland Park Zoo sells exotic animal dung to the public who can then use the dung as garden fertilizer. This is an example of ______.
earned-income activities
Which type of venture primarily has a social market impact and social venture mission?
enterprising nonprofit venture
Social consequence entrepreneurship describes a ______.
for-profit venture whose primary market impact is social
Nigerian investor and philanthropist Tony Elumelu has an alternate solution to the refugee problem. He has decided to ______.
invest $100 million to support entrepreneurship in African countries with refugees living in poverty
A corporation with profit goals can have a CSR strategy if ______.
it pursues social objectives in addition to pursing profit
Wicked problems are defined as ______.
large, complex social problems with no clear solution
A hybrid model of social entrepreneurship describes a(n) ______.
organization with a purpose that equally emphasizes both economic and social goals
A venture philanthropist who is focused on building the long-term viability of the organization, achieving greater social impact, and operational efficiency is focused on ______.
organizational capacity building
According to the text, there are three primary attributes of stakeholders to consider.
power, legitimacy, urgency
Earned income activities allow enterprising nonprofits to ______.
sell products or services that are used as a source of revenue generation
Sword and Plough hires army veterans to recycle surplus military materials such as parachutes, sleeping bags, and tents, into fashionable bags and accessories. It donates 10% of its profits to veteran organizations. Sword and Plough is an example of ______.
social consequence entrepreneurship
Which type of venture primarily has a social market impact and economic venture mission?
social consequence venture
Jim Poss created Bigbelly, Inc., a for-profit company that builds trash cans that allows garbage to be compacted using solar energy. Jim Poss is an example of a(n) ______.
social entrepreneur
The biggest difference between social entrepreneurship and corporate social responsibility is ______.
social entrepreneurship places equal emphasis on social and economic goals
The organic clothing company PACT designs, manufactures, and distributes premium cotton underwear without using pesticides, fertilizers, or chemicals. PACT is an example of a ______.
social purpose venture
Which type of venture primarily has an economic market impact and social venture mission?
social purpose venture
Social entrepreneurship differs from other forms of entrepreneurship in that it gives higher priority to ______.
social value creation
Social entrepreneurship is the process of ______.
sourcing innovative solutions for social and environmental problems
Which type of venture primarily has an economic market impact and economic venture mission?
traditional venture
Overpopulation and the dramatic increase in life expectancy are examples of ______.
wicked problems