Question 1

Many of the activities considered to fall under the umbrella now called social entrepreneurship have a long history; however, efforts to give it coherence as a body of knowledge and practice are as recent as the 1980s and 1990s.

Accepted Answer

The statement is true. While social entrepreneurship activities have a long history, efforts to give it coherence as a body of knowledge and practice are recent, dating back to the 1980s and 1990s.

Question 2

The perceived partition between society and the economy is an artificial bifurcation because society and the economy are inextricably linked.

Accepted Answer

Society and the economy are interdependent and influence each other, and therefore cannot be separated into distinct entities.

Question 3

"Social" is a relatively easy term to define, there is little or no disagreement about what "social" means, and the same can be said about a definition of "entrepreneurship."

Accepted Answer

While "entrepreneurship" may have a commonly accepted definition, "social" can have different interpretations depending on context and perspective.

Question 4

General aspects of entrepreneurship appear to have at least some degree of universality including the characteristics of actively seeking out opportunities to innovate in order to add value to the lives of their customers and to pursue a strategy of growth in order to expand their business's market reach and profits.

Accepted Answer

General aspects of entrepreneurship do have some degree of universality, including actively seeking out opportunities to innovate and pursuing growth strategies to expand market reach and profits.

Question 5

Social entrepreneurs are known to consistently be both risk takers and risk managers.

Accepted Answer

The answer of Social entrepreneurs are known to consistently be...

Question 6

Finding a uniformly accepted definition of "social entrepreneurship" is as problematic as getting agreement among experts on a common definition of "entrepreneurship".

Accepted Answer

There is no widely accepted definition of social entrepreneurship and it remains a contested concept among scholars and practitioners. Similarly, there is also no universally agreed upon definition of entrepreneurship, further adding to the difficulty of defining social entrepreneurship.

Question 7

The true solution of a social problem cannot be transactional and treat only symptoms. It must treat the root cause of a problem and seek to end the problem permanently.

Accepted Answer

Treating only the symptoms of a social problem may provide temporary relief, but the problem will persist if the root cause is not addressed. The true solution must aim to eliminate the root cause and provide a permanent solution.

Question 8

There is really no difference between social entrepreneurship and business entrepreneurship because a solution to a social problem is just another type of product that can be sold by a business entity.

Accepted Answer

While there may be similarities between social entrepreneurship and business entrepreneurship, the primary difference is the focus on creating social or environmental impact rather than solely generating profit. Social entrepreneurship is often driven by a mission to address a specific problem or need in society, and the success of the business is measured by its ability to create positive change alongside financial sustainability.

Question 9

Social entrepreneurs use the pursuit of their social mission as a tool for achieving economic value for their stakeholders.

Accepted Answer

Social entrepreneurs primarily focus on achieving social value or addressing social issues through their ventures, while economic value or financial sustainability is a means to continue their social mission, not the primary goal.

Question 10

Most of the notable differences between social and business entrepreneurs appear to be absolute differences rather than differences of degree

Accepted Answer

The differences between social and business entrepreneurs often lie in their primary motivations and the ways they measure success, rather than being absolute differences. Social entrepreneurs are primarily motivated by social change and measure success in terms of impact on society, while business entrepreneurs are primarily motivated by profit and measure success in financial terms. However, both types of entrepreneurs share many characteristics, such as innovation, risk-taking, and the ability to mobilize resources, indicating that the differences are more of degree than absolute.

Question 11

Many successful social entrepreneurs were first successful business entrepreneurs who possess self-confidence and the support of an established network of resource providers as they transition to launching and growing a social enterprise.

Accepted Answer

This statement is true. Many social entrepreneurs start as successful business entrepreneurs and use their resources and networks to launch and grow their social enterprise. This experience also gives them the self-confidence and skills needed to succeed in the social entrepreneurship space.

Question 12

Social entrepreneurs are motivated by forces that are internal, such as personal values that foster empathy for the plight of others and external forces that come from an encounter with a social problem.

Accepted Answer

Social entrepreneurs are driven by personal values that encourage empathy for others, as well as external factors that stem from an encounter with a social issue. This motivation helps them to develop innovative and sustainable solutions to address social problems.

Question 13

Social entrepreneurship is about a process that involves both the interaction between the individual entrepreneur and the context within which the entrepreneur and her or his social enterprise operates.

Accepted Answer

The answer of Social entrepreneurship is about a process that...

Question 14

Important process models for business and social entrepreneurship include the Timmons Model, the PCCC Framework, the CASE Model, the Social Entrepreneurship Framework and the Social Entrepreneurship Process Model.

Accepted Answer

The answer of Important process models for business and social...

Question 15

The Social Entrepreneurship Process Model consists of one step.

Accepted Answer

The Social Entrepreneurship Process Model consists of multiple steps, typically including identifying a social problem, researching potential solutions, developing a business model, implementing and scaling the solution, and measuring and evaluating impact.

Question 16

What is the basis of the word "social"?

Accepted Answer

The answer of What is the basis of the word...

Question 17

While there are many definitions of "entrepreneurship" that have been developed over the years, and despite the variation in thinking, there are some general aspects of entrepreneurship that appear to have at least a degree of universality. Which ones?

Accepted Answer

The answer of While there are many definitions of "entrepreneurship"...

Question 18

Arguably the oldest and most cited definition of social entrepreneurship comes from Dees (1998, p. 4): "Social entrepreneurs play the role change agents in the social sector by…?"

Accepted Answer

The answer of Arguably the oldest and most cited definition...

Question 19

The triple bottom line pertains to the pursuit of which three outcomes by the for-profit or nonprofit organization?

Accepted Answer

The answer of The triple bottom line pertains to the...

Question 20

The commercial entrepreneur serves shareholders, the social entrepreneur serves…?

Accepted Answer

The answer of The commercial entrepreneur serves shareholders, the social...

Quiz 2: Defining and Distinguishing Social Entrepreneurship