Question 1

Current approaches to measuring social impact have not yet reached maturity primarily because of which of the following factors?&#10;A) The general lack of maturity in social program evaluation&#10;B) The variety of purposes that organizations have for conducting analyses&#10;C) Both a and b are typically cited as factors&#10;D) Neither a nor b is a factor typically given

Accepted Answer

Both factors - the general lack of maturity in social program evaluation and the variety of purposes that organizations have for conducting analyses - are typically cited as hindering the maturity of current approaches to measuring social impact.

Question 2

How does comparing the social value of various social programs relate to comparing the financial returns on investment (ROIs) of these various social programs?&#10;A) They are similar&#10;B) They are not similar&#10;C) They used to be similar&#10;D) None of the answers is applicable

Accepted Answer

Comparing the social value of social programs involves evaluating their impact on society and their ability to achieve their intended outcomes, while comparing financial returns on investment involves evaluating the financial gains or losses associated with different social programs. These two types of comparisons are not the same and involve different criteria and metrics.

Question 3

All of the following are considered to be benefits of learning how to calculate a firm's social impact except one. Which of the following is not considered a benefit?&#10;A) Provides a clear picture of the measurable results of the organization's work&#10;B) Provides an opportunity to share stories and anecdotes that give a fuzzy &#34;sense&#34; that things are moving in the right direction&#10;C) Knowing which programs are working and which are not allows the allocation of resources where they have the greatest impact&#10;D) Knowing how to measure the firm's social impact, social entrepreneurs can identify themselves and the organization with the cutting edge of the industry

Accepted Answer

Sharing stories and anecdotes does not provide a clear and measurable understanding of the organization's social impact, which is the primary benefit of learning how to calculate social impact.

Question 4

The firm's social value proposition (SVP) is a brief description of _____________________?&#10;A) The social venture's organization, the value it provides, and the impact it can have on individuals and society&#10;B) The social venture's starting date, the value it provides, and the impact it can have on individuals and society&#10;C) The social venture's age, the value it provides, and the impact it can have on individuals and society&#10;D) The social venture's life expectancy, the value it provides, and the impact it can have on individuals and society

Accepted Answer

The firm's social value proposition (SVP) is a brief description of the social venture's organization, the value it provides, and the impact it can have on individuals and society. It outlines how the business intends to create social impact and the value it provides to stakeholders, such as customers, employees, and the community. The SVP serves as a communication tool to attract resources, partners, and supporters who share the social mission of the venture.

Question 5

Which of the following statements is true?&#10;A) The trend in the world of social enterprise is toward (emphasizing) more objective reporting and accurate accounting for social impact&#10;B) The trend in the world of social enterprise is not toward (emphasizing) more objective reporting and accurate accounting for social impact&#10;C) The trend in the world of social enterprise is toward (emphasizing) more subjective reporting and accurate accounting for social impact&#10;D) The trend in the world of social enterprise is toward (emphasizing) more subjective reporting and inaccurate accounting for social impact

Accepted Answer

The statement that the trend in the world of social enterprise is toward (emphasizing) more objective reporting and accurate accounting for social impact is true. This is because there has been increasing pressure on social enterprises to demonstrate their impact and accountability to stakeholders, including investors and customers. Objective reporting and accurate accounting help to build trust and credibility with these stakeholders, which is critical for the long-term sustainability and success of social enterprises.

Question 6

Although stakeholders tend to differ by type of organization, there are usually some common ones. Which of the following would not typically be considered a social venture stakeholder?&#10;A) Constituents or beneficiaries&#10;B) Government officials&#10;C) Individual donors or institutional funders&#10;D) The general public

Accepted Answer

The general public is not typically considered a direct stakeholder of a social venture, as stakeholders are usually those directly involved or impacted by the organization's activities, such as beneficiaries, government officials, and donors.

Question 7

Again, which of the following would not typically be considered a social venture stakeholder?&#10;A) Board members&#10;B) Affiliates&#10;C) Chapter leaders&#10;D) All three are typically to be considered as social venture stakeholders

Accepted Answer

All three choices - board members, affiliates, and chapter leaders - are typically considered as social venture stakeholders.

Question 8

A social entrepreneur would want to ask each of the various stakeholders of his or her venture which of the following questions?&#10;A) What is the ultimate impact you value from the work of this social venture?&#10;B) How would you define failure for the work of this social venture?&#10;C) What outcome do you value least about the work of this social venture?&#10;D) What do you think this social venture needs to accomplish over the next one to three months?

Accepted Answer

A social entrepreneur would want to understand the ultimate impact valued by stakeholders to align the venture's goals with stakeholder expectations and ensure the venture is creating meaningful change.

Question 9

When should the social entrepreneur identify social indicators that are mentioned most frequently across all types of stakeholders?&#10;A) Before having a discussion with stakeholders&#10;B) During having a discussion with stakeholders&#10;C) After having a discussion with stakeholders&#10;D) The social entrepreneur should never do this

Accepted Answer

The social entrepreneur should have a discussion with stakeholders to identify their priorities and concerns before identifying social indicators. Only after having a discussion with stakeholders, the social entrepreneur can identify social indicators that are mentioned most frequently across all types of stakeholders. This ensures that the social indicators are relevant and meaningful to the stakeholders and their needs are addressed.

Question 10

The last step in measuring social impact, monetizing the social value of the social indicator, is important because it _____________________________.&#10;A) Attracts a narrow range of wealthy investors to the venture&#10;B) Establishes metrics that can be used to evaluate a venture's effectiveness in achieving desired social impact&#10;C) Narrows the focus and mission of the venture&#10;D) Stimulates long-term capital flow exclusively

Accepted Answer

Monetizing the social value of the social indicator helps establish metrics that can be used to evaluate a venture's effectiveness in achieving desired social impact. This allows for better accountability and understanding of the success of the venture in creating social change. It does not necessarily attract a narrow range of wealthy investors, narrow the focus and mission of the venture, or stimulate long-term capital flow exclusively.

Question 11

According to Tuan there are __________ integrated approaches for measuring social impact.&#10;A) Nine&#10;B) Ten&#10;C) Seven&#10;D) Eight

Accepted Answer

The answer of According to Tuan there are __________ integrated...

Question 12

What is according to Tuan not an integrated approach for measuring social impact?&#10;A) Cost-Effective Analysis (CEA)&#10;B) Cost-Benefit Analysis (CBA)&#10;C) Social Return on Investment (SROI)&#10;D) Break-Even Analysis (BEA)

Accepted Answer

The answer of What is according to Tuan not an...

Question 13

Which one of the following statements most accurately describes the cost-effectiveness analysis approach to measuring social impact?&#10;A) It is used when monetizing the impact or benefits of a program is not possible or desirable&#10;B) It can account for all areas of program impact at any given time&#10;C) It is complex and makes it possible to aggregate across all areas of impact&#10;D) It involves the calculation of a percentage of cost to a monetary benefit or outcome

Accepted Answer