Question 1

How is social entrepreneurship defined in this chapter?
A) As the application of the mindset, processes, tools, and techniques of business entrepreneurship to the pursuit of a social and/or environmental mission
B) As the application of the mindset, processes, tools, and techniques of a social mission to the pursuit of business entrepreneurship and/or environmental mission
C) As the application of the mindset, processes, tools, and techniques of an environmental mission to the pursuit of a social mission and/or business entrepreneurship
D) As the mission to make the world a better place

Accepted Answer

Social entrepreneurship is defined in this chapter as the application of the mindset, processes, tools, and techniques of business entrepreneurship to the pursuit of a social and/or environmental mission. This definition highlights the idea of using entrepreneurial strategies to create positive social and environmental impact, rather than just creating profit.

Question 2

How old is social entrepreneurship as a field of study?
A) Very old, it goes back to the classics
B) Relatively new, although not much has been written on the subject
C) Relatively new, although much has already been written on the subject
D) It has still be founded.

Accepted Answer

Social entrepreneurship as a field of study is relatively new, but it has quickly gained traction and a significant amount of literature has been developed around it, reflecting its growing importance and interest among academics, practitioners, and policy-makers.

Question 3

All of the following statements accurately describe what can be called market failures in terms of a "free market economy" except which one?
A) Profits are insufficient to cause private developers to generate housing for low-income households
B) Banks refuse to invest in certain neighborhoods because of perceived risk, called redlining
C) One community's pursuit of economic well-being results in polluting the environment, thereby increasing the ability of another community to provide for its residents
D) People go hungry in some parts of the world, while in other regions surplus food is destroyed or land is kept out of agricultural production

Accepted Answer

A, B, and D all accurately describe market failures where the free market system is not effectively allocating resources or providing for the needs of society. However, choice C describes a scenario where one community's pursuit of economic well-being leads to negative externalities for another community, which is not a failure of the free market system but rather a failure of regulatory mechanisms to properly address externalities.

Question 4

There is often a general lack of political will to sustain efforts to address societal problems in democratic societies. Which of the following contributes to this lack of political will?
A) Newly elected officials attempt to build on the programs of their predecessors so they can leave their own mark on public policy
B) Warring ideologies cause pendulum swings in attitudes and approaches as one political regime replaces another and efforts are routinely "done and undone"
C) There are no checks on power, so corruption is common and counterproductive relative to focusing attention and resources on meeting the needs of the populace
D) Changes in government are often violent and the resulting instability creates still more social problems

Accepted Answer

Warring ideologies can cause political pendulum swings and shifts in priorities, making it difficult to sustain efforts to address societal problems. This can lead to a lack of political will to continue initiatives that were started by previous administrations, as the focus shifts to implementing new agendas and policies to address different problems.

Question 5

Which of the following is given as a reason authoritarian governments are no more successful than democratic governments at solving their society's problems?
A) The well-documented breakdown in civil society that has exacerbated the problem of warring ideologies
B) Short election cycles, term limits, and the propensity of newly elected officials to ignore programs of their predecessors
C) Conflicting ideologies cause pendulum swings in attitudes and approaches as one regime replaces another, causing governments to "do and undo" their efforts rather than make steady forward progress
D) One ideology dominates and eventually, and inevitably, reaches its point of diminishing returns for producing positive change

Accepted Answer

Authoritarian governments often have a single dominating ideology that, over time, becomes less effective at generating positive outcomes, leading to a point of diminishing returns.

Question 6

Which of the following has been identified by Bornstein as a key change that has made today's social entrepreneurship phenomenon possible?
A) There has been a global increase in prosperity that brought the rise of the middle class and an increase in wealth that can be used to finance social ventures
B) There remain many obstacles to the active participation of women and certain subjugated groups in societal affairs
C) There has been a decrease in the number of democratic and semi-democratic societies dealing with social wrongs
D) There continues to be a great disparity in the availability of formal education and the number of college-educated individuals remains stable

Accepted Answer

Bornstein identifies the increase in global prosperity and the rise of the middle class as a key change that has made today's social entrepreneurship phenomenon possible. This increase in wealth allows for individuals to finance social ventures and support social causes in a way that was not possible in the past.

Question 7

Which of the following has not been identified by Bornstein as a key change that has made today's social entrepreneurship phenomenon possible?
A) The increase in the number of democratic and semi-democratic societies, which has given citizens the freedom to pursue the correction of social and environmental wrong outside of government and the business sector
B) The fear for developments that may jeopardize the future of mankind
C) The proliferation of new communications technology that has increased people's level of awareness of global societal problems and their impacts
D) The removal of many obstacles to the active participation of women and certain subjugated groups in societal affairs

Accepted Answer

Bornstein identifies the increase in democratic societies, proliferation of new communications technology, and removal of obstacles for certain groups as key changes that have made social entrepreneurship possible. However, he does not mention the fear for developments that may jeopardize the future of mankind as a contributing factor.

Question 8

By filtering out common limiting factors of private and public sectors, how does social entrepreneurship represent the best of the private and public sectors?
A) It embodies the enterprising spirit of the private sector
B) It uses the power of economic markets to generate and deliver solutions to problems
C) It strives to intervene in broken markets in an effort to repair them and places the public interest ahead of private interests
D) All of the above

Accepted Answer

Social entrepreneurship embodies the enterprising spirit of the private sector, by using the power of economic markets to generate and deliver solutions to problems. However, it also strives to intervene in broken markets in an effort to repair them and places the public interest ahead of private interests, which represents the best of the public sector.

Question 9

Which of the following is one of the unique qualifications of social entrepreneurship that makes it an attractive alternative to purely private or purely public approaches to social and environmental problem solving?
A) It is passionate and personal because the problem chosen to be addressed has deep meaning to the social entrepreneur
B) It has a well-established bureaucracy that facilitates its operations
C) It is based on an approach whereby goods and services are exchanged via short-term transactional relationships
D) It fosters growth by maintaining the status quo as a means to problem solving and transformative change

Accepted Answer

One of the unique qualifications of social entrepreneurship is that it is passionate and personal. Social entrepreneurs are driven by their deep commitment to solving a social or environmental problem, which makes their approach more effective and sustainable than purely private or purely public approaches. Social entrepreneurs are able to tap into their own experiences and insights to develop innovative solutions that are tailored to the needs of the communities they serve. This personal connection to the problem also enables social entrepreneurs to mobilize resources, build partnerships, and inspire others to join their efforts.

Question 10

Social entrepreneurship is passionate and personal, in that the social entrepreneur has chosen the problem to be addressed because it has deep meaning to her or to him. But wherefrom may this meaning be derived?
A) From personal experience
B) From second-hand knowledge
C) From avocation
D) From all three

Accepted Answer

The meaning behind a social entrepreneur's passion may come from personal experience, second-hand knowledge, or avocation, or a combination of all three.

Question 11

Which of the following is not one of the unique qualifications of social entrepreneurship that makes it an attractive alternative to purely private or purely public approaches to social and environmental problem solving?
A) It builds, maintains, and utilizes social capital (networking)
B) It is profit driven, not mission focused
C) It is accountable to society, not to private shareholders
D) It facilitates development by lending and stability

Accepted Answer

Social entrepreneurship is mission-driven rather than profit-driven, making option B incorrect. The other options (A, C, and D) are all unique qualifications of social entrepreneurship that distinguish it from purely private or purely public approaches.

Question 12

Social entrepreneurs embrace the concept of "co-opetition", but what does "co-opetition" mean?
A) It only makes sense to compete with other social entrepreneurs and never to collaborate
B) Much of the time it makes sense to compete with other social entrepreneurs whereas sometimes they must collaborate with other social entrepreneurs
C) Much of the time it makes sense to collaborate with other social entrepreneurs whereas sometimes they must compete with other social entrepreneurs
D) It only makes sense to collaborate with other social entrepreneurs and never to compete

Accepted Answer

"Co-opetition" means a combination of cooperation and competition. Social entrepreneurs embrace this concept because sometimes it makes sense to collaborate with other social entrepreneurs to achieve common goals, whereas in other situations, they have to compete with other social entrepreneurs to attract funding or resources. Therefore, option C is the correct choice.

Question 13

Social entrepreneurship is mission focused, not profit driven. What does this mean?
A) There are no social ventures that are for-profit
B) Even social ventures that are for-profit in their structure put mission above revenue
C) Even social ventures that are for-profit in their structure put revenue above mission
D) All social ventures are for-profit

Accepted Answer

Social entrepreneurship is characterized by a strong focus on achieving a social or environmental mission, rather than just generating profits for shareholders. While there may be social ventures that are structured as for-profit entities, their priority is still their mission, and not revenue maximization.

Question 14

Social ventures are said to operate in a "fish bowl". What does this kind of operating bring with it?
A) Greater freedom
B) A higher level of responsibility
C) Both greater freedom and a higher level of responsibility
D) Neither greater freedom nor a higher level of responsibility

Accepted Answer

Social ventures operate in a "fish bowl" which means they operate with greater visibility and scrutiny, which brings both greater freedom and a higher level of responsibility. They have freedom to pursue their social mission but also have a responsibility to ensure that their operations and impact are transparent and accountable.

Question 15

Who are the "shareholders" of social ventures?
A) The investors in the firm
B) The banks
C) The government
D) The people who are invested in the successful solution of the problem they address

Accepted Answer

The shareholders of social ventures are the people who are invested in the successful solution of the problem they address. These can include beneficiaries, customers, and supporters who share the company's mission and values. Unlike traditional for-profit companies, social ventures prioritize impact over profit, and their shareholders demonstrate their commitment to this goal by investing their time, money, and resources in the company.

Question 16

How would you describe the relationship between social entrepreneurship and politics?
A) Social entrepreneurship = politics
B) Social entrepreneurship is mainly politics
C) Social entrepreneurship circumnavigates politics
D) Social entrepreneurship neglects politics

Accepted Answer

Social entrepreneurship often seeks to create change and address social issues in innovative ways that bypass traditional political systems and bureaucracy. However, social entrepreneurs may still engage with politicians or policy makers to advocate for their cause or seek support. Overall, social entrepreneurship is not primarily driven by politics, but may intersect with it in various ways.

Question 17

According to Hamlin and Lyons, which of the following is a prerequisite to successful development?
A) Personnel
B) Profit
C) Scale
D) Marketing

Accepted Answer

The answer of According to Hamlin and Lyons, which of...

Question 18

All of the following are sources of instability that negatively affect growth and development except which one?
A) Incompetent governance and the resulting frequent turnover of leadership
B) Natural disasters such as floods, earthquakes, etc.
C) Full equity among all members of a society's members
D) Disparity in socio-economic status among a society's members that is too great to be sustainable

Accepted Answer

Full equity among all members of a society's members is not a source of instability that negatively affects growth and development. In fact, it can lead to greater social cohesion and stability. The other options - incompetent governance, natural disasters, and socio-economic disparities - are all known sources of instability that can impede growth and development.

Question 19

What do social entrepreneurs address through their efforts?
A) Equity and stability
B) Only equity
C) Only stability
D) Neither equity nor stability

Accepted Answer

Social entrepreneurs address both equity (by promoting fairness and equality) and stability (by creating sustainable solutions and reducing social and economic disparities).

Question 20

Concerning social entrepreneurship, what can be found on the World Wide Web?
A) Definitions, tools, and examples
B) Profiles of organizations that are leaders in social entrepreneurship
C) Definitions, tools, and examples and profiles of organizations that are leaders in social entrepreneurship
D) Neither definitions, tools, and examples nor profiles of organizations that are leaders in social entrepreneurship

Accepted Answer

The World Wide Web contains both definitions, tools, and examples of social entrepreneurship as well as profiles of organizations that are leaders in the field. Therefore, option C is the best choice. Option A is incorrect because it does not include profiles of organizations. Option B is also incorrect because it only includes profiles of organizations and not definitions, tools, and examples. Option D is incorrect because it states that nothing related to social entrepreneurship can be found on the World Wide Web, which is not true.

Quiz 1: Introduction

How is social entrepreneurship defined in this chapter?

How old is social entrepreneurship as a field of study?

All of the following statements accurately describe what can be called market failures in terms of a "free market economy" except which one?

There is often a general lack of political will to sustain efforts to address societal problems in democratic societies. Which of the following contributes to this lack of political will?

Which of the following is given as a reason authoritarian governments are no more successful than democratic governments at solving their society's problems?

Which of the following has been identified by Bornstein as a key change that has made today's social entrepreneurship phenomenon possible?

Which of the following has not been identified by Bornstein as a key change that has made today's social entrepreneurship phenomenon possible?

By filtering out common limiting factors of private and public sectors, how does social entrepreneurship represent the best of the private and public sectors?

Which of the following is one of the unique qualifications of social entrepreneurship that makes it an attractive alternative to purely private or purely public approaches to social and environmental problem solving?

Social entrepreneurship is passionate and personal, in that the social entrepreneur has chosen the problem to be addressed because it has deep meaning to her or to him. But wherefrom may this meaning be derived?

Which of the following is not one of the unique qualifications of social entrepreneurship that makes it an attractive alternative to purely private or purely public approaches to social and environmental problem solving?

Social entrepreneurs embrace the concept of "co-opetition", but what does "co-opetition" mean?

Social entrepreneurship is mission focused, not profit driven. What does this mean?

Social ventures are said to operate in a "fish bowl". What does this kind of operating bring with it?

Who are the "shareholders" of social ventures?

How would you describe the relationship between social entrepreneurship and politics?

According to Hamlin and Lyons, which of the following is a prerequisite to successful development?

All of the following are sources of instability that negatively affect growth and development except which one?

What do social entrepreneurs address through their efforts?

Concerning social entrepreneurship, what can be found on the World Wide Web?