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Questions and Answers

Which of the following is NOT a characteristic of the Hero's Journey?

The hero faces challenges and overcomes obstacles.

The hero receives a call to adventure that they initially refuse.

The hero typically receives mentorship from a wise figure.

The hero always achieves their goals without experiencing setbacks. (correct)

According to the speaker, what is the most scarce commodity that can be used to build a legacy?

Experience

Resources

Money

Time (correct)

What is the primary purpose of the speaker's focus on 'The Economy of Francesco'?

To promote the principles of Islamic banking and interest-free loans.

To highlight the role of religious institutions in shaping business decisions.

To encourage business leaders to prioritize ethical and sustainable practices. (correct)

To criticize capitalism and advocate for socialist economic systems.

According to the speaker, what is the significance of synchronicity in entrepreneurship?

It can contribute to unexpected opportunities and breakthroughs. (D) Signup and view all the answers

What is the main message of the speaker's argument against long-term business plans?

They stifle creativity and fail to adapt to changing market conditions. (D) Signup and view all the answers

How does the speaker suggest entrepreneurs can create a meaningful story for their business?

By connecting their North Star purpose to their everyday business decisions. (D) Signup and view all the answers

Which of the following philosophers is NOT mentioned as having opposed usury?

Plato (B) Signup and view all the answers

What approach does the speaker advocate for in building successful businesses?

Embracing agile methodologies and adapting to feedback. (A) Signup and view all the answers

Which of the following is NOT a key concept emphasized by the speaker?

The need to prioritize financial gains above all else. (C) Signup and view all the answers

What is the main takeaway from the speaker's discussion on 'breeding money from money'?

Exploiting financial instruments for personal gain is morally unacceptable. (B) Signup and view all the answers

What is the "subsidy trap" as it relates to non-governmental organizations (NGOs)?

NGOs lose their charitable status if they become too business-like. (A) Signup and view all the answers

How can ethical businesses attract talent?

By offering meaningful work and a sense of purpose, even with similar pay. (D) Signup and view all the answers

What is one way in which business can be viewed as art?

By challenging traditional notions of business and art and exploring unconventional models. (B) Signup and view all the answers

How can incorporating "inefficiency" make a business more appealing and human-centered?

By prioritizing customer experience and creating a more personal connection. (B) Signup and view all the answers

What is the significance of "right livelihood" in Buddhism?

It emphasizes the importance of ethical behavior in all aspects of life, including business. (B) Signup and view all the answers

What is the counterintuitive aspect of Taoism's emphasis on "not doing" in business?

It emphasizes the importance of trust and humility, which can be perceived as weakness in a competitive business environment. (B) Signup and view all the answers

What do Semitic religions like Judaism, Christianity, and Islam highlight in the context of economics?

The ethical treatment of money and the importance of fairness, debt relief, and usury. (D) Signup and view all the answers

What does Judaism prohibit?

The charging of interest on loans to the poor. (C) Signup and view all the answers

How does Dante's Inferno illustrate the moral condemnation of excessive profit?

By depicting usurers in the seventh circle of hell. (D) Signup and view all the answers

Which of the following is a characteristic of avant-garde business models?

Being unconventional, inefficient, and focused on originality. (A) Signup and view all the answers

Study Notes

Introduction

The course focuses on post-growth entrepreneurship, exploring its importance before practical skills.
Students will develop hypothetical businesses throughout the course.

Business as Activism

Activism groups rely on donations and volunteers, facing funding challenges.
Non-governmental organizations (NGOs) can encounter the "subsidy trap," potentially losing charitable status with excessive business-like operations.
This mirrors the "poverty trap", where individuals may lose benefits when seeking employment or starting businesses.
Fair trade empowers consumer choices, influencing the type of world consumers want to support economically.
Business-to-business fair trade utilizes business spending power for ethical impact.
Launching an ethical business can encourage existing businesses to prioritize ethics.
Ethical ventures attract talent by providing meaningful work, even at similar pay levels.

Business as Art

Business can serve as a form of art, challenging conventional views.
Avant-garde business models are often inefficient and unconventional, emphasizing unique approaches.
"Inefficiency" can boost appeal and promote human-centered philosophies.
Playfulness and creativity foster innovation and stronger customer engagement.
Overcoming silos between creative and rational minds leads to innovative breakthroughs.

Business as Spirituality

Buddhism highlights "right livelihood" within the Eightfold Path, emphasizing ethical work and money.
Mindfulness and meditation, popularized in companies like Google, improve leadership and company culture.
Mindfulness shouldn't be used manipulatively or unethically.
Taoism emphasizes "not doing", a concept counterintuitive for business, but valuable for leadership.
The Dao De Ching emphasizes trust, humility, and letting go.
Semitic religions (Judaism, Christianity, Islam) address economic fairness, debt relief, and usury issues.
Judaism prohibits interest on loans to the poor.
Christianity discourages greed, promotes lending without profit motives.
Dante's Inferno places usurers in the seventh circle of hell, showcasing the condemnation of excessive profit.

Spiritual Aspects of Business

Islam prohibits interest-bearing loans (usury).
Many Islamic countries have Islamic banks offering interest-free or low-interest loans.
Pope Francis' encyclicals (Laudato si and Fratelli Tutti) discuss economics, climate change, and trickle-down economics, outlining "The Economy of Francesco."
Ancient Greek philosopher Aristotle deemed usury "the most unnatural and unjust trade."
Roman philosophers Cicero, Cato, and Seneca similarly opposed usury.
The speaker examines the ethics of "breeding money from money," referencing businesses such as landlords, bankers, and fund managers.
Reconciling business and spirituality is a multifaceted challenge.

The Hero's Journey in Business

Joseph Campbell's "Hero's Journey"/"Monomyth" is a 12-step framework, common in stories and theater.
The Hero's Journey includes a call to adventure rejected, a helpful mentor, overcoming obstacles, a final battle, and a triumphant return.
Entrepreneurs can use this as a business framework.
The speaker suggests aligning the entrepreneur's "North Star" purpose with daily decisions, creating a meaningful narrative.

Legacy and Personal Impact

Time, not money, is the most scarce resource.
A 44-year-old woman without children emphasizes business as a legacy building tool.
The speaker uses business impact through activism, non-profit work, and entrepreneurship education.

Synchronicity and Scavenger Hunts in Business

Entrepreneurship features synchronicity or coincidences contributing to success.
The speaker encourages prospective entrepreneurs to create space in their lives, saying "no" to unnecessary commitments.
Recognizing curiosity and exploring interests can lead to unexpected business opportunities.
Elizabeth Gilbert's "Big Magic" highlights the importance of curiosity and personal exploration in creativity.

The Value of Lean and Agile Approaches

Detailed business plans can hinder creativity.
Agile and lean approaches, like The Lean Startup methodology, are preferred.
MVPs (Minimum Viable Products), user feedback, and rapid iterations are emphasized.
Business adaptation based on external feedback and user needs is crucial.
The speaker parallels Agile software development (daily stand-ups, two-week sprints, DevOps) with business strategy, showing iterative processes for complex systems.

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Description

Test your knowledge on post-growth entrepreneurship, its significance, and how businesses can function as activism and art. Explore the challenges faced by NGOs and fair trade concepts while considering the impact of ethical businesses. This quiz is designed for students learning about innovative, sustainable business practices.