Social Entrepreneurship Quiz & Flashcards

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Questions and Answers

What is the main focus of social enterprises as mentioned in the text?

Maximizing economic growth

Enhancing global inequality

Generating profit for shareholders

Driving social impact and innovation (correct)

How does the text define economic growth in the context of social impact?

Limiting access to goods and services

Promoting human physical capital

Fostering development for all individuals (correct)

Increasing global inequality

What factors contribute to economic growth?

Healthcare and sanitation

Wealth and education

Ideas, technology, and innovation (correct)

Craft and livelihood creation

How does the text describe the relationship between development and economic growth?

Economic growth leads to development Signup and view all the answers

In the context of the Solow Model of Growth, what is essential for economic growth?

Ideas, technology, and innovation Signup and view all the answers

Why do some countries grow faster than others, according to the text?

Variances in economic policies and governance Signup and view all the answers

What is a key difference between a social enterprise and a charity?

Funding source Signup and view all the answers

How do social enterprises aim to create social impact compared to charities?

By engaging in entrepreneurial and innovative activities Signup and view all the answers

What is a primary goal of a social entrepreneur?

Innovating to address social needs Signup and view all the answers

How does a social enterprise differ from a charity in terms of financial sustainability?

Social enterprises aim to be self-sustainable Signup and view all the answers

Which aspect showcases the heterogeneity among social enterprises, according to the text?

Who they serve as customers/consumers Signup and view all the answers

What is a primary factor contributing to the greater social impact of social entrepreneurs compared to traditional businesses?

Reinvestment of surplus into creating social impact Signup and view all the answers

How is success measured in a double bottom line approach in social enterprises?

By social value created and economic value generated Signup and view all the answers

What is a key difference between an entrepreneur and a social entrepreneur in terms of motivation?

Entrepreneurs focus on generating wealth, while social entrepreneurs focus on generating social change. Signup and view all the answers

What is the primary goal of a social entrepreneur compared to a traditional entrepreneur?

Social entrepreneurs aim to generate social change, while traditional entrepreneurs aim to reduce competition. Signup and view all the answers

What is a key factor that distinguishes the success of an entrepreneur from that of a social entrepreneur?

Social impact and surplus generation Signup and view all the answers

What does the term 'double bottom line' refer to in the context of social enterprises?

Measuring both economic value generated and financial revenue Signup and view all the answers

What is the central focus of a hybrid social enterprise that combines a for-profit arm and a non-profit arm?

Combining economic value with social value creation Signup and view all the answers

Study Notes

Motivation: Entrepreneur is driven by market opportunity to generate wealth, while Social Entrepreneur is driven by social need to create social change.
Goal: Entrepreneur aims to reduce competition and increase market presence, while Social Entrepreneur aims to scale and deepen social impact.

Charity: relies on grants and donations, operates repetitive and shorter-term programs, and is not-for-profit.
Social Enterprise: trades or sells products and services, is entrepreneurial and innovation-focused, and can be for-profit or not-for-profit.

Huge diversity in types of social enterprises, how they make money, operate, make impact, and serve customers.
Examples include non-profit social enterprise, hybrid social enterprise, and more.

Double Bottom Line

Success measured by social value created and economic value generated.
Economic value: revenue, profit, sales, other income.
Social value: number of individuals reached, income or jobs generated, improvement in living standards, access to services.

Measuring Success

Double bottom line approach measures both economic and social impact.

Economic Growth and Development

Production factors (capital, human capital, and ideas) lead to output and economic growth.
Solow Model of Growth: human capital + physical capital + ideas, tech, and innovation => goods & services => economic growth.
Development: transforming a place so that what was previously only attainable for the few comes into reach for most.

The Growth Puzzle

Questions: Why do some countries grow faster than others? Why do some countries maintain higher growth?

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Description

Test your knowledge on social entrepreneurship, including topics like motivation, market opportunities, innovation, social impact, and the differences between charity and social enterprise.

Social Entrepreneurship Quiz