Social Entrepreneurship Test Complete Solutions
social enterpreneurship ️What sets social
entrepreneurship apart is its focus on social needs. However, some social
entrepreneurship scholars argue that since the concepts of novelty and
profitability are recurrent in the definition of entre...
Social Entrepreneurship Test Complete Solutions
social enterpreneurship ✔️What sets social
entrepreneurship apart is its focus on social needs. However, some social
entrepreneurship scholars argue that since the concepts of novelty and
profitability are recurrent in the definition of entrepreneurship, any definition of
social entrepreneurship must include both terms.1
Four characteristics of a social entrepreneurship ✔️address a particular social need;
• be centered on the creation of social value;
• emphasize social impact; and
• acknowledge that the means to attain the social mission can include purely
philanthropic, hybrid, or market-orientated mechanisms.
Purely Philanthropic social ventures ✔️ask for gifts and grants from donors and then
provide free services and goods to beneficiaries. They rely on external sources of
funding and are sustainable only when these external sources continue to fund
their ventures. Physicians for Human Rights, a social venture based in New York
City (www.physiciansforhumanrights.org) and Médecins Sans Frontières
(Doctors Without Borders; www.doctorswithoutborders.org/?ref=donate-header)
could be considered as philanthropic social ventures.
purely commercial social ventures ✔️A social venture may take the form of a purely
commercial business but its profits are used to address social needs. For
example, a social venture may be created to address a particular social need.
However, in doing so, the social venture may be run as a commercial venture.Such a business model
could help to address the social need without depending
on donors or government grants
, hybrid social ventures ✔️both social value creation and economic value
creation are core organizational activities. Hence, a social enterprise that
combines the organizational forms of both business and charity at its core is an
ideal type of hybrid organization.
McGrath and MacMillan define the entrepreneurial mindset as a way of
thinking about business that captures the benefits of uncertainty and contend that
the entrepreneurial mindset takes hold when the following five characteristics
are displayed: ✔️passionate pursuit of opportunities;
• pursuit of opportunities with discipline;
• pursuit of only the best opportunities;
• a focus on adaptive execution; and
• engagement with the energies of everyone.1
The literature on the entrepreneurial mindset could lead to the identification of
four key elements ✔️entrepreneurial thoughts;
• entrepreneurial choices;
• entrepreneurial actions; and
• entrepreneurial outcomes.
Dees, who was an early social entrepreneur scholar determined that the role of change in the social
sector change agents by ✔️adopting a mission to create and sustain social value (not just private
value);
• recognizing and relentlessly pursuing new opportunities to serve that mission;
• engaging in a process of continuous innovation, adaptation, and learning;
• acting boldly without being limited by current resources; and
• exhibiting heightened accountability to the constituencies served and the
outcomes created.8
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