Deck 4: Social Entrepreneurship and the Global Environment for Entrepreneurship

Question 1

The Brundtland definition of sustainable development is "meeting the needs of the present without compromising the ability of future generations to meet their needs."

Answer 1

True

Question 2

Benefit corporations are one of the oldest forms of incorporation, having been adopted in all 50 states.

Answer 2

False

Question 3

Social entrepreneurs are known to combine resources to exploit opportunities to create social value.

Answer 3

True

Question 4

Sustainable development is an important, but not necessarily the most prominent, topic of our time.

Question 5

For-profit enterprises have yet to make significant contributions to the world of social entrepreneurship.

Question 6

Importing, in essence, is buying and shipping domestically produced goods for foreign consumption.

Question 7

One way that social entrepreneurship seeks to enhance social wealth is by creating new ventures.

Question 8

Thanks to the North American Free Trade Agreement, each year thousands of smaller enterprises are actively engaged in the international arena.

Question 9

Social entrepreneurship avoids private-sector focus on risk taking.

Question 10

Bottom-line measures of social performance include the unemployment rate and health-adjusted life expectancy.

Question 11

Resource-rich countries and market-rich countries are usually one and the same.

Question 12

There are three main types of strategic international alliances.

Question 13

Successful global start-ups, or entrepreneurial businesses that are "born global," surprisingly often lack internationally experienced management.

Question 14

Purpose, accountability, and transparency are characteristics associated with socially sustainable enterprises.

Question 15

Social responsibility consists of those obligations that society has to businesses.

Question 16

Licensing agreements can involve patents, trademarks, and technical know-how.

Question 17

The three dimensions of performance associated with the triple bottom line are people, the planet, and profits.

Question 18

Social entrepreneurship is rarely a vehicle for sustainable development.

Question 19

The triple bottom line is an accounting framework that focuses on optimizing short-term financial performance.

Question 20

Ecopreneurship is a combination of ecologically and economically sustainable development.

Question 21

As of 2015, the largest U.S. trading partners included

A)Canada, China, and Mexico.
B)China, Mexico, and Turkey.
C)Canada, Mexico, and India.
D)China, India, and South Korea.

Question 22

Which of the following types of risks incorporates fluctuating exchange rates?

A)social risks
B)economic risks
C)political risks
D)financial risks

Question 23

Key elements in plans to create a sustainable future are likely to include eliminating the concept of

A)conservation.
B)waste.
C)price.
D)accountability.

Question 24

The first of five steps for entering the international marketplace is

A)securing adequate financing.
B)filing the proper documents.
C)conducting research.
D)preparing a feasibility study.

Question 25

Benefit corporations concern themselves with

A)purpose, impact, and transparency.
B)profit, people, and accountability.
C)accountability, waste, and transparency.
D)purpose, accountability, and transparency.

Question 26

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

A)the shared bottom line.
B)value proposition.
C)the triple bottom line.
D)the twin bottom line.

Question 27

The triple bottom line focuses on all of the following except

A)profits.
B)people.
C)the planet.
D)precedence.

Question 28

Which of the following designations is not synonymous with social entrepreneur?

A)social innovator
B)public entrepreneur
C)civic entrepreneur
D)social activist

Question 29

Which of the following activities does not characterize the social entrepreneur?

A)adoption of a mission
B)recognition and relentless pursuit of opportunities
C)operating with a low sense of accountability
D)engagement in continuous innovation and learning

Question 30

Among the advantages for global entrepreneurs of diaspora networks is the

A)speed with which information flows across borders.
B)distrust among traditional trading partners.
C)creation of places where anything can happen.
D)decline in political risks across ethnic communities.

Question 31

The basic challenge for social enterprise is addressing the obligations of business to

A)future generations.
B)financial performance.
C)different industries.
D)society.

Question 32

Bottom-line measures of economic performance include all of the following except

A)global competition.
B)personal income.
C)cost of underemployment.
D)job growth.

Question 33

The North American Free Trade Agreement (NAFTA) offers strong protection for

A)patents and copyrights.
B)patents but not copyrights.
C)patents and copyrights but not trade secrets.
D)patents, copyrights, and trade secrets.

Question 34

Corporate social responsibility refers to

A)the enhancement of global competition.
B)environmental entrepreneurship in the United States.
C)actions that further some social good beyond the interests of the firm.
D)the effect of ecopreneurship only on some industries.

Question 35

Which of the following statements about social entrepreneurship is not true?

A)Social entrepreneurship is limited to the world of not-for-profit corporations.
B)Social entrepreneurship is about having a heightened sense of accountability.
C)Social entrepreneurship has, in recent years, been the subject of widespread media attention.
D)Social entrepreneurship adopts some of the same principles that have been effective in successful entrepreneurship.

Question 36

Examples of social enterprise obligations to the environment include all of the following except

A)pollution control.
B)restoration of the environment.
C)recycling efforts.
D)construction of energy.

Question 37

Which of the following terms describes a possible leadership style for ecologically innovative firms?

A)ecopreneurship
B)ecovision
C)triple bottom line
D)social impact investing

Question 38

Membership in the World Trade Organization represents _____ of the world's population at present.

A)less than three-fourths
B)almost 92 percent
C)almost 95 percent
D)more than 97 percent

Question 39

Which of the following researchers believes that the social mission, not wealth creation, is the most important criterion?

A)Dean A.Shepherd
B)William McDonough
C)Holger Pazel
D)J.Gregory Dees

Question 40

All of the following are methods for going international except

A)importing.
B)international alliances.
C)licensing.
D)foreign reclamation.

Question 41

The North American Free Trade Agreement (NAFTA) has developed

A)new trade barriers that have been enacted by Canada.
B)trade barrier reductions.
C)a decrease in trade among the United States, Canada, and Mexico.
D)entrepreneurial firms that have become less competitive.

Question 42

What does transparency refer to in the context of benefit corporations?

Question 43

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

A)the environment with social benefits being the means.
B)profitability with social benefits being the means.
C)income from their beneficiaries.
D)income with entrepreneurial means.

Question 44

List some activities that have come to be associated with social entrepreneurship.

Question 45

Explain the concept of informal international alliances. What path do entrepreneurs usually follow with respect to informal international alliances?

Question 46

Why has sustainable development become, perhaps, the most prominent topic of our time?

Question 47

An L3C is a new legal form for social enterprises known as

A)limited liability corporations.
B)low-profit, limited liability companies.
C)long-term, low-profit, low-liability companies.
D)limited liability laborers.

Question 48

Why is "global thinking" important to today's entrepreneurs?

Question 49

Emerging opportunities in the international arena are being fueled by a(n) _____ in trade barriers and _____ trading blocs.

A)increase; the emergence of
B)decrease; the emergence of trading blocs
C)decrease; a decline in
D)increase; a decline in

Question 50

Global entrepreneurs are now considered by others as

A)weaker in innovation.
B)wearing different hats.
C)narrow-minded.
D)only dedicated to global business aspects.