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 ....

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?

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?

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?

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?

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.

Quiz 2: Social Innovation