Chapter 4
An L3C is a new legal form for social enterprises known as
low-profit, limited liability companies
Social entrepreneurs can also be referred to as all of the following except
social obligators
Successful global start-ups, or entrepreneurial businesses that are "born global," surprisingly often lack internationally experienced management.
False; Characteristics of successful global start-ups include internationally experienced management as well as global vision from inception, a strong international business network, preemptive technology or marketing, a unique intangible asset, a linked product or service, and tight organizational coordination worldwide.
Which of the following statements about social entrepreneurship is not true?
Social entrepreneurship is limited to the world of not-for-profit corporations.
Corporate social responsibility refers to
actions that further some social good beyond the interests of the firm.
The first of five steps for entering the international marketplace is
conducting research
Key elements in plans to create a sustainable future are likely to include which of the following?
eliminating the concept of waste
Methods for going international include all of the following except
foreign reclamation
Bottom-line measures of economic performance include all of the following except:
global competition
If we accept the argument that social entrepreneurship is a continuum, at one extreme would be social entrepreneurs driven exclusively by producing social benefits; at the other, would be
social entrepreneurs motivated by profitability with social benefits being the means.
Which of the following four factors is not included in the Social Corporate Entrepreneurship Scale (SCES) developed by researchers?
social intention
The social entrepreneur aims to increase which of the following?
social value
Examples of social enterprise obligations to the environment include all of the following except
support for minority-own businesses
Among the advantages for global entrepreneurs of diaspora networks are
the speed with which information flows across borders.
An account framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions is called
triple bottom line
Green entrepreneurship is concerned
turning ecologically sustainable development into economically sustainable development.
Ecopreneurship is a combination of ecologically and economically sustainable development.
True; A form of green capitalism, also referred to as green entrepreneurship, has emerged as a powerful new force in examining the manner in which business is conducted in relation to the environment and refers to a concept of ecologically sustainable development being transformed into economically sustainable development.
Purpose, accountability, and transparency are characteristics associated with socially sustainable enterprises.
True; Benefit corporations are exactly the same as traditional corporations except for a few specific elements that make them more socially sustainable enterprise including purpose, accountability, and transparency.
The three Ps of the triple bottom line are people, planet, and profits.
True; By focusing on comprehensive investment results with respect to performance along the interrelated dimensions of profits, people, and the planet, triple bottom line can be an important tool to support sustainability goals.
Social entrepreneurs are known to combine resources to exploit opportunities to create social value.
True; Definitions of social entrepreneurship have taken many forms and one form defines social entrepreneurship as a process of creating value by combining resources in new ways that are intended primarily to explore and exploit opportunities to create social value by stimulating social change or meeting social needs.
Licensing agreements can involve patents, trademarks, and technical know-how.
True; International licensing programs include patents, trademarks, and technical know-how.
Social entrepreneurs and their ventures are driven by social goals and aim to increase social value in order to contribute to the welfare or well-being in a given community.
True; Social entrepreneurs and their ventures are driven by social goals, that is, the desire to benefit society in some way. In other words, the social entrepreneur aims to increase social value, that is, to contribute to the welfare or well-being in a given community.
The social entrepreneurship process begins with a perceived social opportunity translated into an enterprise concept.
True; The social entrepreneurship process begins with a perceived social opportunity translated into an enterprise concept; resources are then ascertained and acquired to execute the enterprise's goals.
International alliances rarely require the exchange of proprietary knowledge.
False; International formal alliances usually requires a formal contract with specifics about what each company must contribute and the agreement involves greater commitment by each company with transfer of proprietary information.
The triple bottom line is an accounting framework that focuses on optimizing short-term financial performance.
False; The triple bottom is an accounting framework that goes beyond the traditional measures of profit, return on investment, and shareholder value to include environmental and social dimensions and focuses on comprehensive investment results.
