Deck 14: The Future of Social Entrepreneurship

Question 1

Which of the following is an actual quote by an expert about what the future of social entrepreneurship is likely to be like?

A) "The future is about shifting from fail-safe models to safe-fail models-to be successful, we need to throw up as many balls in the air as possible."
B) "The future will involve taking on easier problems battled by fewer people to separate the low-quality enterprises that scale from the mediocre ones."
C) "In the future we need to build an evaluation system for entrepreneurs who initially face hurdles, which will give them the means to gracefully exit the field."
D) "Sole-proprietorships, partnerships, and acquisitions and stress on investments and better grant writing practices will be upcoming future trends."

Answer 1

A

Question 2

Based on the Gartner Hype Cycle depicting the changing views on social entrepreneurial approaches, which of the following examples would you expect to find at the far end of the continuum, "market liquidity"?

A) Fair Trade
B) Local Food
C) Affordable Housing
D) Green Building

Answer 2

C

Question 3

The Gartner Hype Cycle depicts the changing views on social entrepreneurial approaches. The maturity is defined on a continuum from "social trigger" to "market liquidity". Which are the in-between stages, in the right sequence?

A) Peak Attention-Market Acceptance-Market Expansion
B) Peak Attention-Market Acceptance-Mature Expansion
C) Market Acceptance-Mature Expansion-Peak Attention
D) Peak Attention-Mature Acceptance-Market Expansion

Answer 3

B

Question 4

On the horizontal axis of the Gartner Hype Cycle, the degree of maturity is presented. But what degree is presented on the vertical axis?

A) Feasibility
B) Visibility
C) Growth
D) Time

Question 5

Which of the following does not describe an initiating event (social trigger)?

A) New social businesses are created and some level of acceptance of their purpose finds its way into society
B) The initial success is always based in a new technology
C) It occurs when some new opportunity is discovered to create both social and financial value
D) It allows for others to observe a different perspective and, as a result, see how to do things differently to apply them to various existing or unaddressed problems

Question 6

Attention follows social trigger in the changing views on social entrepreneurship approaches, and an emerging market sector is created. Typically, this trends follows a ________________________?

A) A curve upward until a level of market attention is reached.
B) A curve upward until a level of maturity attention is reached
C) A curve upward until a level of peak attention is reached.
D) A curve downward until a minimum level of attention is reached.

Question 7

If the concept proves itself in the changing views on social entrepreneurship approaches, a more mature period of expansion and development occurs, usually supported by what?

A) Outside smart money
B) Outside smart people
C) Outside smart knowledge
D) Outside smart maturity

Question 8

What does "market liquidity" mean at the end of a curve that reflects the changing views on social entrepreneurship approaches?

A) The stage of "mature expansion" evaporates into the stage of "market acceptance"
B) The stage of "market acceptance" evaporates into the stage of "mature expansion"
C) The acceptance of the idea becomes so commonplace that market liquidity develops as a viable and commonplace investment opportunity
D) The rejection of the idea becomes so commonplace that market liquidity develops as a non-viable and weird investment opportunity

Question 9

According to Tracey and Phillips the three key challenges inherent in social entrepreneurship are as follows:

A) Managing personnel evaluation, managing the triple bottom line, and managing identity
B) Managing accountability, managing the bottom line, and managing public relations
C) Managing accountability, managing the double bottom line, and managing identity
D) Managing the double bottom line, managing public relations and managing identity

Question 10

Catalytic innovations are a subset of __________________.

A) Sustaining innovations
B) Disruptive innovations
C) Both sustaining and disruptive innovations
D) Neither sustaining nor disruptive innovations

Question 11

Catalytic innovators, whose primary focus is on social change, share all of the following characteristics except __________________.

A) Meeting a need that is either over-served or not served at all
B) Creating systemic social change through scaling and replication
C) Generating resources, such as donations, grants, volunteers, or intellectual capital, in ways that are unattractive to incumbent competitors
D) Offering products and services that are complex and more costly than existing alternatives

Question 12

There are two categories of innovations: sustaining and disruptive. Which of the following are characteristic of innovations considered to be sustaining?

A) They tend to be less complex, more accessible and convenient
B) They are likely to be attractive to markets that are not adequately served by existing product and service solutions
C) They include incremental and breakthrough product and service innovations that are targeted to existing customers of the organizations
D) They provide "good enough" solutions to social challenges that are not effectively addressed using traditional approaches

Question 13

One of the ways that social entrepreneurs can engage in catalytic innovation is their ability to engage in bricolage behavior. What is bricolage behavior?

A) A set of actions driven by the search for existing and often scarce resources that can be combined and/or recombined to create novel and interesting solutions that affect their respective markets.
B) A set of actions driven by the search for new and often scarce resources that can be combined and/or recombined to create novel and interesting solutions that affect their respective markets.
C) A set of actions driven by the search for existing and omnipresent resources that can be combined and/or recombined to create novel and interesting solutions that affect their respective markets.
D) A set of actions driven by the search for new and omnipresent resources that can be combined and/or recombined to create novel and interesting solutions that affect their respective markets.

Question 14

Social ventures today are evaluated by the "triple bottom line," a phrase that refers to their _____________________________.

A) Personnel expertise, profits, and environmental impact
B) Profits, social impact, and environmental impact
C) Personnel expertise, profits, and social impact
D) Profits, social impact, and political impact

Question 15

To sustain change over generations a fourth bottom line is needed by social ventures, next to the "triple bottom line". Which one?

A) Political impact
B) Productivity impact
C) Process impact
D) Proceeding impact

Question 16

Recently the number of online portals targeting the social sector has been growing and the scope of these destinations has been expanding rapidly. Which of the following is not an example of the expansion of such internet sites?

A) Sites of general content that specialize in social giving, provide information, and offer comprehensive databases of nonprofit organizations
B) Sites that provide information on volunteer work sought by nonprofit organizations
C) Internet-based initiatives that give users the opportunity to donate to their preferred cause, or save for higher education, by earning dollars or points through either purchases or exposure to advertising
D) Internet-based initiatives that provide entertainment options for a small fee to a charitable organization

Question 17

Categories of future trends anticipated for social entrepreneurship include which of the following combinations?

A) Disruptive social venture models and internet action beyond donations
B) Public-private partnerships and disruptive social venture models
C) Further entrepreneurship education and redefining exit strategy for social ventures
D) All of these combinations are consider to be future trends in social entrepreneurship

Question 18

Even though public-private partnerships are projected to increase, there are numerous problems associated with such partnerships. Which of the following would not be considered a challenge facing such partnerships?

A) It is rare today to find complex, adaptive public problems that require solutions in which stakeholders from nonprofit, public, and private sectors must collaborate
B) The interests and vested interests in each sector (public and private) are quite different
C) Assumptions, expectations, priorities, language, pace, access to resources, and other differentiating features in each sector strongly diverge
D) All of the above are challenges to such partnerships

Question 19

As a multidisciplinary field, social entrepreneurship presents a unique opportunity for graduate education to address the need to better teach systems thinking and innovation. Which of the following is an example of how business schools are responding to this opportunity?

A) Reducing ethical and social components to focus more on specific managerial skills
B) Reinventing MBA education by developing social entrepreneurship as an integral part of the graduate business education mode
C) Raising the standards for acceptance into all graduate business programs
D) Teaching courses focused on theoretical frameworks and practical skills to future managers and business leaders

Question 20

Which of the following statements is true?

A) Global Social Entrepreneurship Competitions is the only form of social venture competitions.
B) Social Entrepreneurship Case and Business Plan Competitions is the only form of social venture competitions.
C) Global Social Entrepreneurship Competitions and Social Entrepreneurship Case and Business Plan Competitions are both forms of social venture competitions.
D) Nor Global Social Entrepreneurship Competitions neither Social Entrepreneurship Case and Business Plan Competitions are forms of social venture competitions

Question 21

What can be said about the social entrepreneur of tomorrow?

A) She or he will most likely not find creative solutions, but engage her or his own pre-existing knowledge and relationships to encourage stakeholders to take notice of these innovations and the impact they can have in driving long-term systematic change for broader social, political, and economic well-being.
B) She or he will most likely not only find creative solutions, but also engage her or his own pre-existing knowledge and relationships to encourage stakeholders to just take notice of these innovations
C) She or he will most likely not only find creative solutions, but also engage her or his own pre-existing knowledge and relationships to encourage stakeholders to take notice of these innovations and the impact they can have in driving long-term systematic change for broader social, political, and economic well-being.
D) She or he will most likely not find creative solutions, but engage her or his own pre-existing knowledge and relationships to encourage stakeholders to take notice of these innovations and the impact they can have in driving long-term systematic change for broader social, political, and economic well-being.

Question 22

The future for social entrepreneurship is replete with possibilities and innovations to solve many of society's most intractable problems.

Question 23

A social trigger occurs when some new opportunity is discovered to create both social and financial value so that new social businesses are created.

Question 24

When the acceptance of a new idea becomes so commonplace that market liquidity develops, this is considered to be the midpoint along the maturity continuum for the attention curve for businesses addressing social ills.

Question 25

Three key challenges inherent in social entrepreneurship include managing accountability, managing the double bottom line, and managing stakeholders.

Question 26

Local food banks and boys' and girls' clubs are examples of nonprofits with income generating activities because value is created through grant writing, volunteers and for-profit ventures.

Question 27

Innovations can generally be separated into the two distinct categories of sustaining and disruptive.

Question 28

Catalytic innovations, a subset of sustaining innovations, provide "good enough" solutions to social challenges that are not effectively addressed using traditional approaches.

Question 29

Generating resources, such as donations, grants, volunteers, or intellectual capital, in ways that are unattractive to incumbent competitors is a characteristic of catalytic innovators.

Question 30

Bricolage behavior is a set of actions driven by the search for existing and often scarce resources that can be combined and/or recombined to create novel and interesting solutions that affect their respective markets.

Question 31

Social entrepreneurs whose environments are typically resource constrained and often present new challenges without providing new resources tend to consistently avoid bricolage behavior.

Question 32

The degree to which social entrepreneurs engage in bricolage behavior may determine their success in developing catalytic innovations for the marketplace because notions of making do and using whatever is on hand link with a fundamental social shift toward developing smart, sustainable projects that are integral to social change.

Question 33

It is rare today to find complex, adaptive public problems that do not require solutions in which stakeholders from nonprofit, public, and private sectors must collaborate.

Question 34

As a multidisciplinary field, social entrepreneurship presents a unique opportunity for graduate education to address the need to better teach systems thinking and innovation, e.g., business schools.

Question 35

Global Social Entrepreneurship Competitions and Social Entrepreneurship Case and Business Plan Competitions are both forms of social venture competitions

Question 36

Not all nonprofit groups are successful and an example of a nonprofit group that has recently announced plans to wind down, because of financial problems is Malaria No More, a popular nonprofit that supplies bed nets in malaria zones.

Question 37

Mention the five stages in the "Attention Curve", which depicts the changing views on social entrepreneurial approaches.

Question 38

Which dimension is depicted on the vertical axis of the "Attention Curve"?

Question 39

Mention the three key challenges that have been identified as being inherent in social entrepreneurship.

Question 40

Which six levels were distinguished in the sustainability equilibrium across both social/environmental value creation and economic value creation?

Question 41

Define what is meant by "catalytic" innovations and then explain the five characteristics typically associated with catalytic innovators.

Question 42

Define what is meant by bricolage behavior? Explain how bricolage fits within resource-poor environments.

Question 43

List the categories of future trends anticipated for social entrepreneurship. Select one of the trends and briefly describe its characteristics.

Question 44

One of the future trends anticipated for social entrepreneurship is "internet action beyond donations". Mention the two main indicators for this trend.

Question 45

"Public-private partnerships" is one of the future trends anticipated for social entrepreneurship. However, it is stated that collaborations across sectors is difficult. Why? Explain your answer.

Question 46

Business schools and their MBA programs constitute a unique environment for furthering education in social entrepreneurship. What are the two main reasons for this?

Question 47

Mention the two forms of social venture competition.

Question 48

Explain how the Attention Curve: The Capital Market for Good (Impact Assets) can be used to show the changing views on social entrepreneurial approaches.

Question 49

One of the three key challenges that have been identified as being inherent in social entrepreneurship is "managing identity". Explain this key challenge and give three recommendations as to how to implement this in a social venture.

Question 50

Which of the forms of social venture competition do you see as more effective: Global Social Entrepreneurship Competitions or Social Entrepreneurship Case and Business Plan Competitions. Explain your answer.