Social Entrepreneurship Exam 1 Review Graded A+
Social entrepreneurship ️The application of the mindset, processes, tools, and techniques of business
entrepreneurship to the pursuit of a social and/or environmental problems (Using entrepreneurship
principles to solve social problems)
Driv...
Social Entrepreneurship Exam 1 Review Graded A+
Social entrepreneurship ✔️The application of the mindset, processes, tools, and techniques of business
entrepreneurship to the pursuit of a social and/or environmental problems (Using entrepreneurship
principles to solve social problems)
Drivers of SE ✔️-A global increase in prosperity
-An increase in free societies interested in correcting social and environmental wrongs
-New communication technology
-Increase in higher education which leads to highly social awareness
-Increase in participation of women and certain subjugated groups on societal affairs
Components of SE ✔️1. Identify a stable but unjust that leads to marginalization of a segment society
2. Identifying an opportunity and developing a social value proposition that addresses this unjust
situation
3. Creating a venture that leads to a new, stable equilibrium that provides a benefit to the targeted
group
Attraction of SE ✔️-The appeal of entrepreneurs and entrepreneurship
-Signals the potential to drive social change and benefit society
-Holds high promise
Traditional entrepreneurs ✔️Serve markets which can afford a new product/service; designed to create
financial profit
Social entrepreneur ✔️Set to create transformational benefit to society, often to underserved
segments that often lack the financial means to obtain the benefit
True ✔️Social entrepreneurships CAN be for profit, but has the primacy of social benefit (T or F)
, Value proposition ✔️The benefit that your product/service offering has to your target audience
Social ✔️"_____" derives from the Latin word socialis, meaning an associate, ally, or companion
Social ✔️The organization of associates, allies, companions, or confederates into a cooperatively
interdependent group-a community or society
Entrepreneurship ✔️A production innovator who perceives the opportunity to provide a new product
or implement a new production method nd then organizes the needed production inputs and assumes
financial risk
Entrepreneurial thinking ✔️A way of thinking, reasoning, and acting that's opportunity obsessed,
holistic in approach, and leadership balanced
Entrepreneurial innovation ✔️Anyone who innovates and who has a goal of growth and development
for themselves and their business
Social entrepreneurs ✔️-Change agents
-Implement change
-Social entrepreneurship way of thinking
-Always involving a social mission
Picking an SE ✔️1. Define what you're passionate about
2. Determine the gaps
3. Identify your strengths and skills
4. Decide on a business model
5. Use social opportunity assessment tools to determine feasibility
False (It doesn't equal) ✔️Ideas IS the same as opportunities (T or F)
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