Question 1

Social entrepreneurship does not concern itself with commercial questions.

Accepted Answer

Social entrepreneurship does concern itself with commercial questions, but it prioritizes social impact over profit. Social entrepreneurs aim to create sustainable business models that generate revenue while also addressing a social or environmental problem.

Question 2

The triple bottom line is ....&#10;A)markings on a ship to show how heavily laden it is&#10;B)a book-keeping convention to minimise accounting mistakes&#10;C)an accounting system suitable for joint ventures between firms&#10;D)a company reporting framework designed to take into account not just financial outcomes but also environmental and social performance

Accepted Answer

The triple bottom line is a company reporting framework that takes into account not just financial outcomes, but also environmental and social performance. It aims to measure a company's impact on people, the planet, and profits.

Question 3

Which of the following would NOT be considered a social entrepreneur?&#10;A)Florence Nightingale&#10;B)Muhammed Yunus, founder of the Grameen Bank&#10;C)Kenneth Lay, founder of Enron&#10;D)Trevor Bayliss, inventor of the wind-up radio

Accepted Answer

Kenneth Lay, founder of Enron, would not be considered a social entrepreneur because social entrepreneurship is defined as utilizing entrepreneurial skills and approaches to create positive social change, whereas Lay's actions at Enron ultimately led to financial fraud and harm to society. Florence Nightingale, Muhammed Yunus, and Trevor Bayliss are all examples of social entrepreneurs who made significant contributions to society through their respective fields.

Question 4

There is no way to resolve the conflict between commercial business goals and those of social innovation.

Accepted Answer

While there may be challenges in balancing commercial business goals with social innovation, it is possible to find ways to align these goals and create a win-win situation for both. For example, companies can prioritize social impact and sustainability in their operations and products/services, leading to increased brand reputation and customer loyalty. Alternatively, businesses can partner with social innovators and non-profits to create shared value and address social challenges while still achieving their commercial goals.

Question 5

Which of these is NOT a difference between social entrepreneurs and commercial entrepreneurs?&#10;A)Social entrepreneurs are less concerned with independence and wealth, and more on social means and ends.&#10;B)Social entrepreneurs are older than commercial entrepreneurs.&#10;C)Social entrepreneurs place less emphasis on short-term growth and longer term harvesting of the venture, and more concern on long term change and enduring heritage.&#10;D)Social entrepreneurs place less reliance on the firm and management team to execute the venture, and greater reliance on a network of stakeholders and resources to develop and deliver change.

Accepted Answer

The age of the entrepreneur is not a defining difference between social and commercial entrepreneurship.

Question 6

Which of the following is NOT a question for managing social entrepreneurship?&#10;A)How do we find opportunities which deliver social as well as economic benefits?&#10;B)How do we identify and engage a wide range of stakeholders - and understand and meet their very diverse expectations?&#10;C)How do we mobilise resources across networks, how do we build coalitions of support for socially valuable ideas?&#10;D)How do we patent and exploit emerging ideas?

Accepted Answer

Patenting and exploiting emerging ideas is not a core question for managing social entrepreneurship. While protecting intellectual property is important, the focus is on creating social impact rather than solely on profit maximization.

Question 7

Which of the following statements about the 'bottom of the pyramid' market is not open to challenge?&#10;A)The poor - 4 billion of them - earn less than $2/day&#10;B)The poor have no purchasing power and do not represent a viable market&#10;C)The poor are not brand-conscious&#10;D)The poor are unable to use and not interested in advanced technology

Accepted Answer

The statement about the poor - 4 billion of them - earning less than $2/day is a factual representation based on World Bank and other international organizations' poverty metrics, making it not open to challenge based on the data available up to the knowledge cutoff in 2023.

Question 8

Social innovation follows a different process to more commercial forms of innovation.

Accepted Answer

The answer of Social innovation follows a different process to...

Question 9

Whilst empathy and a need for social justice may be necessary attributes of a social entrepreneur, they are not sufficient.

Accepted Answer

Empathy and a need for social justice are important qualities for a social entrepreneur, but they alone are not enough. Social entrepreneurs also need to possess business acumen, creativity, determination, and the ability to innovate in order to effectively address social and environmental issues.

Deck 2: Social Innovation