Question 1

What do the letters CSR stand for?

Accepted Answer

CSR stands for Corporate Social Responsibility, which refers to a business model where companies integrate social and environmental concerns in their operations and interactions with their stakeholders.

Question 2

A social business is described as:

Accepted Answer

A social business is defined by its mission to address a social problem and create social impact, with profits reinvested back into the business to further its social mission, rather than being distributed to shareholders or directors.

Question 3

Which of the following are disadvantaged groups in entrepreneurship?

Accepted Answer

All of these choices represent groups that are often disadvantaged in entrepreneurship due to various systemic barriers, discrimination, and lack of access to resources.

Question 4

The triple bottom line of a business is:

Accepted Answer

The triple bottom line is a framework or accounting method that expands the traditional reporting framework to take into account ecological and social performance in addition to financial performance. It emphasizes the importance of measuring a company's impact and success not just by the traditional financial bottom line, but also by its social and environmental contributions and impacts.

Question 5

The World Bank describes the bribery formula as:

Accepted Answer

The World Bank's bribery formula is "Corruption = Monopoly + discretion - accountability," highlighting how corruption thrives in environments where a single entity (monopoly) has the power to make decisions (discretion) without proper oversight or consequences (lack of accountability).

Question 6

An Indigenous entrepreneur can be described as:

Accepted Answer

An Indigenous entrepreneur is typically an Indigenous person who creates, manages, and develops new ventures, often with a focus on benefiting Indigenous communities.

Question 7

Integrated theory of biosphere entrepreneurial action includes:

Accepted Answer

The integrated theory of biosphere entrepreneurial action encompasses all these aspects: resource extraction, negative entrepreneurship, and entrepreneurial opportunity, as they all play a role in how entrepreneurship interacts with and impacts the biosphere.

Question 8

What is a vetpreneur?

Accepted Answer

A vetpreneur is a military veteran who transitions into entrepreneurship, leveraging skills and experiences from their service in the military to start and run their own businesses.

Question 9

The history of entrepreneurship provides examples of entrepreneurs with literacy or dyslexia.One such entrepreneur is:

Accepted Answer

Richard Branson, the founder of the Virgin Group, has spoken openly about his dyslexia and how it has affected his approach to business and entrepreneurship.

Question 10

Relativist ethics are defined as:

Accepted Answer

Relativist ethics suggest that what is considered morally right or wrong can vary depending on social, cultural, historical, or personal contexts, rather than adhering to a set of absolute and universal moral truths. Therefore, all the provided options (social, cultural and historical, and personal preferences) are aspects of relativist ethics.

Question 11

A positive entrepreneur can be described as:

Accepted Answer

A positive entrepreneur is characterized by a commitment to making a positive impact in various ways, including adding value by eliminating waste and disposability, creating added value for the business, and not wasting resources. All these choices reflect aspects of what a positive entrepreneur can be described as.

Question 12

Social entrepreneurs are sometimes also referred to as:

Accepted Answer

Social entrepreneurs are often called public entrepreneurs, civil entrepreneurs, or social innovators due to their focus on creating social value and addressing societal issues through innovative solutions.

Question 13

What is sustainability entrepreneurship?

Accepted Answer

Sustainability entrepreneurship involves recognizing, developing, and exploiting opportunities that simultaneously create economic, ecological, and social value, addressing the triple bottom line of profit, people, and the planet.

Question 14

Four types of entrepreneurial activities can be described as:

Accepted Answer

The correct types of entrepreneurial activities are productive, unproductive, and destructive. "Annihilative" is not commonly recognized as a category in the literature on entrepreneurship. The inclusion of "annihilative" in the options is incorrect, but option A correctly lists "productive" and "unproductive" as types of entrepreneurial activities, along with "destructive," which is a recognized category. However, my initial response was based on the standard categorization, and there seems to have been a misunderstanding in interpreting the options provided. The standard recognized categories in entrepreneurship literature are indeed "productive," "unproductive," and "destructive."

Question 15

A biosphere entrepreneur is:

Accepted Answer

A biosphere entrepreneur adds value to natural ecosystems, similar to how business entrepreneurs add value to their ventures or social entrepreneurs add value to the community.

Question 16

What is a biosphere?

Accepted Answer

The biosphere encompasses all ecosystems on Earth, providing the biological context within which all living organisms exist, interact, and depend on for survival. It includes all living beings and their relationships with the lithosphere (earth), hydrosphere (water), and atmosphere (air).

Question 17

What does the term ecopreneurship mean?

Accepted Answer

Ecopreneurship refers to a blend of entrepreneurship with ecological concerns, focusing on businesses that are environmentally friendly.

Question 18

What is meant by 'Indigenous people'?

Accepted Answer

Indigenous people are defined by their cultural continuity with a region prior to colonization, maintaining distinct characteristics despite the influence of larger nation-states, rather than being primarily political, ecological, or dependent on modern inhabitants.

Question 19

What are the three types of organised crime?

Accepted Answer

Organized crime typically involves activities that are more complex and structured than the options listed in choices B, C, and D. A Ponzi scheme is a type of fraud that fits into organized crime due to its complexity and the level of coordination required to deceive investors. Environmental crime involves illegal activities that harm the environment, which can also be highly organized, involving networks that exploit natural resources. Petty crime, although often less complex, can be part of organized crime if it is coordinated in a structured manner, such as in systematic theft or vandalism operations. However, the combination of petty crime, Ponzi scheme, and environmental crime most closely aligns with the diverse activities that can fall under organized crime, despite the unusual grouping.

Question 20

Ethics can be defined as:

Accepted Answer

Ethics involves a set of principles that guide behavior in terms of what is considered good and right versus what is deemed bad or wrong. It does not prescribe bad behavior, exclude any group from its principles, or represent a null set of principles.

Quiz 3: Ethical,social and Sustainable Entrepreneurship