Social Entrepreneurship and Innovation
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Questions and Answers

What is the primary aim of traditional entrepreneurship?

  • Emphasizing market forces for resource distribution
  • Maximizing stockholder wealth (correct)
  • Addressing public goods and externalities
  • Serving broader societal interests

    • In social entrepreneurship, who are the stakeholders considered?

  • Employees and customers only
  • Vendors and suppliers
  • All stakeholders including employees, customers, vendors, suppliers, and local communities (correct)
  • Shareholders and local communities

    • What emerges as a response to market failures in the text?

  • Wealth creation
  • Neoliberal approach
  • Growing gap between rich and poor
  • Social entrepreneurship (correct)

    • What has declined for public and non-profit sectors according to the text?

    <p>Funding</p> Signup and view all the answers

    What approach emphasizes market forces for resource distribution according to the text?

    <p>Neoliberal approach</p> Signup and view all the answers

    Which field of knowledge is described as under-developed but experiencing an explosion in practitioner numbers?

    <p>Social Entrepreneurship</p> Signup and view all the answers

    What is the goal of corporate venturing initiatives?

    <p>Introducing new products, services, or processes</p> Signup and view all the answers

    Which type of behavior involves self-initiated actions by individuals or teams to drive innovation?

    <p>Autonomous strategic behavior</p> Signup and view all the answers

    What is a key element of strategic entrepreneurship?

    <p>Proactive market exploration</p> Signup and view all the answers

    What is crucial for fostering a comprehensive approach to corporate entrepreneurship across different organizational levels?

    <p>Understanding the distinctions between entrepreneurial activities and intrapreneurship</p> Signup and view all the answers

    What type of skills are essential for driving innovation within organizations?

    <p>Entrepreneurial skills</p> Signup and view all the answers

    What is a common misconception regarding intrapreneurship?

    <p>Innovation comes from top-down directives only</p> Signup and view all the answers

    What is the main focus of induced behavior in organizations?

    <p>Being guided by organizational strategies and directives</p> Signup and view all the answers

    What is the primary focus of social entrepreneurs?

    <p>Creating social impact</p> Signup and view all the answers

    Which organization identifies and invests in leading social entrepreneurs globally?

    <p>Ashoka</p> Signup and view all the answers

    What is the primary purpose of socially responsible businesses?

    <p>Generating profit for shareholders</p> Signup and view all the answers

    What distinguishes social enterprises from socially responsible businesses?

    <p>Primary purpose (social impact vs. shareholder return)</p> Signup and view all the answers

    Who taught the first course on social entrepreneurship at Harvard University in 1994?

    <p>Gregory Dees</p> Signup and view all the answers

    What is the primary focus of non-profit organizations with income-generating activities?

    <p>Social impact</p> Signup and view all the answers

    Which term is used to describe an organization that forms to perform 'public tasks' and provide services where there is no supply from for-profits or governments?

    <p>&quot;Non-Profit organization&quot;</p> Signup and view all the answers

    'Activists generally seek to elicit change by influencing the decision making of large institutions, while social entrepreneurs pursue a wider range of options, including building institutions that directly implement solutions themselves.' Based on this statement, what differentiates activists from social entrepreneurs?

    <p>'Outside-' or 'inside-oriented tactics'</p> Signup and view all the answers

    What differentiates hybrid organizations from other types of organizations?

    <p>Degree of activity relating to motive, accountability, and use of income</p> Signup and view all the answers

    What was the earliest use of the term 'social enterprise' related to according to the text?

    <p>Worker co-operatives using social accounting systems</p> Signup and view all the answers

    What is the basis from which integrated social enterprises create their businesses?

    <p>Tangible and intangible assets</p> Signup and view all the answers

    Which category of taxonomy of innovations involves changing the terms on which you relate to clients, consumers, suppliers, funders, or employees?

    <p>Framing new terms of engagement</p> Signup and view all the answers

    What is the largest source of revenue for nonprofit organizations in the United States?

    <p>Public Support</p> Signup and view all the answers

    What percentage of total organizations do nonprofit organizations represent in the United States?

    <p>5.9%</p> Signup and view all the answers

    Which subsector is the largest in terms of expenses for nonprofit organizations?

    <p>Health</p> Signup and view all the answers

    What is the primary benefit of corporate entrepreneurship according to researchers in the United States and Europe?

    <p>Enhanced financial performance</p> Signup and view all the answers

    Which organization is considered the largest nonprofit organization in the US?

    <p>United Way Worldwide</p> Signup and view all the answers

    'Intrapreneurship' and 'corporate entrepreneurship' are often used interchangeably. What does intrapreneurship refer to?

    <p>'Intrapreneurship' is when employees act entrepreneurially within a company.</p> Signup and view all the answers

    What distinguishes social enterprises from for-profit organizations?

    <p>Social enterprises focus on creating social impact in addition to financial gain.</p> Signup and view all the answers

    Which historical figure is considered an early social entrepreneur?

    <p>Frederick Law Olmsted</p> Signup and view all the answers

    What concept suggests that low-income markets offer opportunities for wealthy companies to prosper?

    <p>Bottom of Pyramid Proposition</p> Signup and view all the answers

    What is the largest source of revenue for nonprofit organizations in the United States?

    <p>Public support</p> Signup and view all the answers

    What characterizes a hybrid organization?

    <p>Generates both social and economic value</p> Signup and view all the answers

    What do social entrepreneurs aim to achieve through their enterprises?

    <p>Solve social problems and effect social change</p> Signup and view all the answers

    What are public goods known for?

    <p>Affecting third parties through externalities</p> Signup and view all the answers

    How do social enterprises fund their social programs?

    <p>&quot;Generate income from commercial activities&quot;</p> Signup and view all the answers

    Study Notes

    Social Entrepreneurship

    • Social entrepreneurship focuses on creating a positive impact on society, addressing social, cultural, or environmental issues, beyond just generating profit.
    • Social entrepreneurs pursue a wider range of options, including building institutions that directly implement solutions themselves.
    • Historically, activists have proceeded largely as outsiders to power, while social entrepreneurs frequently combine outside- and inside-oriented tactics to bring change.

    Social Innovation

    • Social innovation involves new strategies, concepts, ideas, and organizations that meet social needs of all kinds, which can be taken up by the public and/or non-profit sectors.

    Organizations Supporting Social Entrepreneurship

    • Ashoka: a global organization that identifies and invests in leading social entrepreneurs.
    • School for Social Entrepreneurs: an institution that provides training and support to individuals seeking to start or grow their own social enterprises.
    • Schwab Foundation: an organization that supports social entrepreneurs with a focus on sustainable social impact.
    • Community Action Network: a UK-based organization that supports community-based social entrepreneurs.

    Hybrid Organizations

    • Hybrid organizations generate both social and economic value and are organized by degree of activity as it relates to motive, accountability, and use of income.
    • Social enterprises and nonprofits with income-generating activities focus on social impact, while socially responsible businesses and corporations practicing social responsibility focus on profit.

    Social Enterprises

    • Social enterprises are market-driven and mission-led organizations that use business tools to achieve social objectives, create social and economic value, generate income from commercial activities to fund social programs, and measure both financial performance and social impact.

    Nonprofit Organizations (NPOs)

    • NPOs enjoy tax-exempt status and can issue tax receipts but have limitations in profit-making and types of investments they can access.
    • The largest source of revenue for NPOs in the United States is public support, with social services being the largest subsector in terms of the number of organizations.

    Terms and Concepts

    • Market Failure: an inefficient market condition where the market does not allocate goods and services efficiently, often due to public goods and externalities not being reflected in their price.
    • Public Goods: goods that are non-excludable and non-rivalrous, meaning they are available to all members of society and one person's consumption does not reduce availability to others.
    • Externality: a situation where the consumption or production of a good affects a third party who is not directly involved in the transaction.
    • Social Entrepreneur: an individual who establishes an enterprise with the aim of solving social problems or effecting social change.

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    Description

    Explore the concepts of social entrepreneurship, social enterprise paradox, and social innovation. Learn about the innovative approaches, sustainability focus, and social impact within the realm of social entrepreneurship.

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