Chapter 4 Social Entrepreneurship Verified A+

Chapter 4 Social Entrepreneurship Verified A+ Wicked problems large, complex, social problems where there is no clear solution, where there is limited, confusing on contradictory information available, and where a whole range of people with conflicting values engage in debate. issues relating to the environment, poverty, sustainability, equality, education, child mortality, sanitation, terrorism, global refugee crisis, and health/wellness Social purpose ventures businesses created by social entrepreneurs to resolve a social problem and make a profit. Social consequence entrepreneurship a for-profit venture whose primary market impact is social. Corporate social responsibility describes the efforts taken by corporations to address the company's effects on the enbvironmental social well-being in order to promote positive change. Conklin's Defining Characteristics of Wicked Problems 1. the problem is not understood until after the formulation of a solution 2. wicked problems have no stopping rule 3. solutions to wicked problems are not right or wrong 4. every wicked problem is essentially novel and unique 5. every solution to a wicked problem is a "one shot operation" 6. wicked problems have no given alternative solutions enterprising nonprofits a form of social entrepreneurship where both the venture mission and the market impact are for social purposes earned-income activities the sale of products or services that are used as a source of revenue generation venture philanthropy funding a combination of financial assistance such as grants with a high level of engagement by the funder hybrid model of social entrepreneurship an organization with a purpose that equally emphasizes both economic and social goals stakeholders the people or groups affected by or involved with the achievements of the social enterprise's objectives work integration social enterprise a social enterprise whose mission is to integrate people who have been socially excluded into work and society through productive activity what role social entrepreneurship plays in society social entrepreneurship is the process of sourcing innovative solutions to social and environmental problems; while many companies strive simply to maximize shareholder value, social entrepreneurs are often more committed to causes centered on preserving and protecting future generations how social entrepreneurship can help solve wicked problems around the world social entrepreneurship can help solve wicked problems such as those related to water shortages, education, health care, poverty, energy, forced migration, and global warming by creating innovative solutions that make a real impact on the lives and livelihoods of others identify the different types of social entrepreneurship there are 3 primary types of social entrepreneurship: social purpose ventures, social consequence entrepreneurs, and enterprising nonprofits how social entrepreneurs can use capital markets to fund their ventures social entrepr