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?

Accepted Answer

This quote, by Linda Rottenberg, is about the need for social entrepreneurship to take risks and embrace failure in order to be successful in the future.

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"?

Accepted Answer

Affordable Housing is often seen as a mature and established sector with significant market liquidity, as it involves substantial investment and financial mechanisms.

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?

Accepted Answer

The in-between stages of social entrepreneurial approaches based on the Gartner Hype Cycle are Peak Attention, Market Acceptance, and Mature Expansion, in that sequence. The maturity continuum ranges from a social trigger to market liquidity. Choice A is incorrect because Market Expansion is not one of the in-between stages, and Mature Expansion is missing. Choice C is incorrect because Market Acceptance comes before Mature Expansion. Choice D is incorrect because Mature Acceptance is not a stage in the maturity continuum, and Market Expansion is not one of the in-between stages.

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?

Accepted Answer

The vertical axis of the Gartner Hype Cycle represents the level of public attention and interest in a technology, product, or innovation. This is measured by the amount of media coverage, investment, and general discussion surrounding the topic. This vertical axis is called "visibility" because it represents the degree to which a technology is visible or known to the public.

Question 5

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

Accepted Answer

The statement "The initial success is always based in a new technology" does not describe an initiating event (social trigger) as they can also be based on other factors such as new opportunities, changes in societal values, or the emergence of innovative business models.

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 ________________________?

Accepted Answer

The statement mentions that attention follows a social trigger and leads to the emergence of a new market sector in social entrepreneurship. Usually, such trends follow a curve upward until a level of peak attention is reached, indicating maximum interest and focus on the emerging sector. A downward curve would suggest a loss of interest, which is not the case here. Therefore, option C is the best choice.

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?

Accepted Answer

A more mature period of expansion and development in social entrepreneurship approaches is usually supported by outside smart money, meaning investment and funding from experienced and knowledgeable investors who are interested in supporting socially impactful ventures.

Question 8

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

Accepted Answer

Market liquidity refers to the level of ease with which assets can be bought or sold. At the end of a curve reflecting changing views on social entrepreneurship approaches, if the acceptance of the idea becomes so commonplace that it develops into a viable and commonplace investment opportunity, then market liquidity will develop. This means that there will be a high level of ease with which investors can buy or sell assets related to social entrepreneurship approaches, making it a more attractive opportunity.

Question 9

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

Accepted Answer

Tracey and Phillips identified the three key challenges in social entrepreneurship as managing accountability (ensuring social and environmental impact), managing the double bottom line (balancing financial and social/environmental objectives), and managing identity (maintaining a coherent image and reputation). Option A is incorrect as it mentions managing the triple bottom line, which includes financial, social, and environmental objectives. Option B is incorrect as it only mentions managing the bottom line and public relations, and does not include managing social/environmental impact. Option D is incorrect as it mentions managing public relations, which is only one aspect of managing identity.

Question 10

Catalytic innovations are a subset of __________________.

Accepted Answer

Catalytic innovations are a subset of disruptive innovations. They aim to create social change by providing simpler, more affordable solutions to underserved populations, similar to how disruptive innovations target new or less-demanding customers.

Question 11

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

Accepted Answer

The statement "Offering products and services that are complex and more costly than existing alternatives" is not a characteristic of catalytic innovators. In fact, catalytic innovators often strive to create solutions that are more accessible and affordable to those who need them.

Question 12

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

Accepted Answer

Innovations considered to be sustaining are targeted at existing customers of the organizations and include incremental and breakthrough product and service innovations. They are designed to improve and maintain current products and services, rather than radically changing them. Options A, B, and D are characteristics of disruptive innovations.

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?

Accepted Answer

Bricolage behavior involves utilizing existing and often scarce resources to create new solutions. It is not about the search for new resources, as option B suggests. Option C and D are also incorrect as they mention either existing omnipresent resources or new and omnipresent resources, which are not part of the definition of bricolage behavior.

Question 14

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

Accepted Answer

The term "triple bottom line" refers to the three areas that social ventures are evaluated on: their financial profitability (profits), their impact on society (social impact), and their impact on the environment (environmental impact). Therefore, the correct answer is B, which includes all three elements. Choices A, C, and D are incorrect because they either only include two of the three elements or include an element (e.g. political impact) that is not commonly considered in the triple bottom line evaluation.

Question 15

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

Accepted Answer

Political impact is considered a fourth bottom line for social ventures to sustain change over generations, as it encompasses the ability to influence public policy and societal norms, which are crucial for long-term sustainability and systemic change.

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?

Accepted Answer

The option D does not fit the expansion of internet sites targeting the social sector as it does not involve social giving, information on volunteer work, or opportunities to donate or earn points for charity. Instead, it focuses on providing entertainment for a fee with proceeds going to charity.

Question 17

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

Accepted Answer

All of the combinations listed (disruptive social venture models, internet action beyond donations, public-private partnerships, further entrepreneurship education, redefining exit strategy for social ventures) are considered to be future trends in social entrepreneurship. These are all areas where innovation and growth are expected to occur in the coming years.

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?

Accepted Answer

Option A states the rarity of the problems that require collaboration among public, private, and nonprofit sectors. This does not represent a challenge to public-private 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?

Accepted Answer

Business schools are responding to the opportunity presented by social entrepreneurship by reinventing MBA education and developing social entrepreneurship as an integral part of graduate business education mode. This involves teaching theoretical frameworks and practical skills that are relevant to future managers and business leaders, and emphasizing the importance of systems thinking and innovation in addressing complex social problems. This approach reflects the multidisciplinary nature of social entrepreneurship, which draws on insights from business, social science, and other fields to create sustainable solutions that have a positive impact on society.

Question 20

Which of the following statements is true?

Accepted Answer

Both Global Social Entrepreneurship Competitions and Social Entrepreneurship Case and Business Plan Competitions are forms of social venture competitions. Option A and B are incorrect as they mention only one form of social venture competitions which is not true. Option D is incorrect as it states that neither of the options are forms of social venture competitions which is also not true.

Quiz 14: The Future of Social Entrepreneurship