Chapter 4: Social Entrepreneurship

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licensing

a business arrangement in which the manufacturer of a product grants permission to a group or individual to manufacture that product in return for specified royalties or other payment

social entrepreneurship

a new form of entrepreneurship that exhibits characteristics of nonprofits, government, and businesses; applies to traditional entrepreneurship's focus on innovation, risk taking, and large-scale transformation to social problem solving

triple bottom line

an accounting framework that goes beyond the traditional measures for profit, return on investment, and shareholder value to include environmental and social dimensions

global entrepreneurs

an entrepreneur who relies on global networks for resources, design, and distribution

international alliances

another alternative for the entrepreneur in the international arena; alliance types: informal international cooperative, formal international cooperatives, and international joint ventures

importing

buying and shipping foreign-produced goods for domestic consumption

social value

contribution to the welfare or well-being in a given community

market-rich countries

countries have something that others need, thus forming the basis of an interdependent international trade system

resource-rich countries

countries have something that others need, thus forming the basis of an interdependent international trade system

European Union

economic and political union of 27 member states which are located primarily in Europe

ecopreneurship

environmental entrepreneurship with entrepreneurial actions contributing to preserving the natural environment

sustainable entrepreneurship

focused on the preservation of nature, life support, and community in the pursuit of perceived opportunities to bring into existence future products, processes, and services for gain, where gain is broadly construed to include economic and noneconomic gains to individuals, the economy and society

political risks

include unstable governments, disruptions caused by territorial conflicts, wars, regionalism, illegal occupation, and political ideological differences

North American Free Trade Agreement

international agreement eliminating trade barriers between Canada, Mexico and USA (NAFTA)

ecovision

leadership style for innovative organizations; encourages open and flexible structures that encompass the employees, the organization, and the environment with attention to evolving social demands

B corporation

legal structure that expands corporate accountability to make decisions that are good for society, not just shareholders; standards enable consumers to support businesses that align with their values

Benefit corporation

more sustainable than traditional corporations, except with purpose, accountability, and transparency

diaspora networks

relationships among ethnic groups that share cultural and social norms

exporting

shipping of domestically produced goods to a foreign destination for consumption; it is important for entrepreneurs because it often means increased market potential

learning curve

the time needed for new methods or procedures to be learned and mastered

World Trade Organization

the umbrella organization governing the international trading system. Its job is to oversee international trade arrangements, but, contrary to popular belief, it does not replace the General Agreement on Tariffs and Trade (WTO)

shared value

transformation of business thinking recognizing societal weaknesses that create internal costs for firms


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