Social Entrepreneurship
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Course Introduction
Social Entrepreneurship explores the innovative application of business and entrepreneurial principles to address social, cultural, and environmental challenges. This course examines the processes by which individuals and organizations create and sustain social value, including opportunity identification, resource mobilization, and sustainable model development. Students will analyze case studies of successful social enterprises, engage with frameworks for measuring social impact, and develop practical skills for launching and managing ventures that aim to generate both social change and financial viability. The course emphasizes ethical leadership, stakeholder engagement, and strategies for scaling social innovations within domestic and global contexts.
Recommended Textbook
New Venture Creation Entrepreneurship for the 21st Century 10th Edition by Stephen
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Spinelli
Chapter 1: The Global Entrepreneurial Revolution for a Flatter World
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Q1) Explain the four entrepreneurial transformations that are changing the world.
Answer: Evidence and trends point to at least four entrepreneurial transformations that profoundly impact how the world lives,works,learns,and enjoys leisure.They are as follows:
1.Entrepreneurship is the new management paradigm:Entrepreneurial thinking and reasoning-so common in dynamic,higher-potential,and robust new and emerging firms-are now becoming infused and embedded into the strategies and practices of corporate America.
2.Entrepreneurship has spawned a new education paradigm for learning and teaching. 3.Entrepreneurship is becoming a dominant management model for running nonprofit businesses and in the emerging field of social ventures.
4.Entrepreneurship is rapidly transcending business schools:Engineering,life sciences,architecture,medicine,music,liberal arts,and K-12 are new academic grounds that are exploring and embracing entrepreneurship in their curricula.
Q2) _____ entrepreneurship means new venture creation.
Answer: Classical
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Chapter 2: The Entrepreneurial Mind: Crafting a Personal
Entrepreneurial
Strategy
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Q1) Which of the following is the least characteristic motivational need of successful entrepreneurs?
A) Achievement
B) Control
C) Power
D) Affiliation
Answer: B
Q2) Studies show a strong connection between the presence of role models and the emergence of entrepreneurs.
A)True
B)False
Answer: True
Q3) Successful entrepreneurs are driven by:
A) the quest for power for its own sake.
B) a personal need for authority expressed by control over others.
C) the quest for achievement and results.
D) a need to seek money as an end in itself.
Answer: C
Q4) Successful entrepreneurs are not gamblers;they take ___.
Answer: calculated risks
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Chapter 3: The Entrepreneurial Process
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Q1) Discuss the overall paradoxical conflict inherent in the entrepreneurial process.
Answer: The world of entrepreneurship is not neat,tidy,linear,consistent,nor predictable and is fraught with paradoxes.To thrive in the entrepreneurial environment,one needs to be very adept at coping with ambiguity,chaos,and uncertainty,while having management skills that mitigate risk in the face of all this uncertainty.The classic paradox is high growth,highly profitable companies in rapidly growing markets frequently are cash-flow negative,requiring ongoing investment to fund this shortfall.
Q2) "Durability" refers to the market advantage a company can enjoy by developing proprietary barriers to entry.
A)True
B)False
Answer: False
Q3) In the entrepreneurial process depicted in the Timmons Model,the required shape,size,and depth of a team and resources are established by the shape,size,and depth of a(n)____.
Answer: opportunity
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Chapter 4: Clean Commerce and Sustainable Enterprise
Movements Are an Opportunity Sea Change
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Q1) Thinking like a _____ requires one to look at his or her immediate environment,or to think small,while not losing the perspective of the larger environment one is operating in.
Q2) The idea of the _____ economy,included in green chemistry tools,is one in which manufacturers make as full use as possible of every input molecule in the final output product.
Q3) Building weak ties is one of the facets of looking through a sustainability lens.
A)True
B)False
Q4) Chemical _____ use additional reagents and generate waste.
Q5) Which of the following countries is setting a high bar for international manufacturing standards?
A) China
B) Japan
C) Mexico
D) Australia
Q6) How are businesses affected by the seismic shift toward clean commerce and sustainable enterprise movements?
Q7) What drives Method's capacity to remain on the competitive edge?
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Chapter 5: Opportunity Recognition
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Q1) What minimum level of gross margin is characteristic of a superior opportunity?
Q2) ________ is the process of linking knowledge in one field or marketplace with quite different technical,business,or market know-how from others.
Q3) Successful entrepreneurs realize that knowing what to do is more important than knowing what not to do.
A)True
B)False
Q4) The importance of an idea is often underrated,and the need for products or services that can be sold in enough quantity to real customers is overemphasized.
A)True
B)False
Q5) According to Moore's law,the computing power of a chip decreases every 18 months. A)True
B)False
Q6) In the United States,the economy is dominated by _____ businesses.
Q7) The goal for a firm is to avoid declining revenue conditions and become the _____ provider.
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Chapter 6: Opportunities for Social Entrepreneurship
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Q1) _____ is derived from entrepreneurial activities that seek to address problems related to people and problems related to the planet-regardless of profit orientation.
Q2) _____ is a type of social venture capital whose purpose is typically economic development and job creation in impoverished areas.
A) Focused fund
B) Community fund
C) VC with a conscience
D) Philanthropy fund
Q3) What is the result of social entrepreneurship?
Q4) A social entrepreneur must accept that a wicked problem is never fully solved,and the solution is not likely to meet all expectations.
A)True
B)False
Q5) _____ is a type of social venture capital that stipulates that a certain percentage of funds will be invested in socially responsible businesses related to a venture's target investment area.
Q6) The primary difference between traditional entrepreneurship and social entrepreneurship is the ____.
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Chapter 7: The Business Plan
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Q1) When speaking with venture capitalists,the entrepreneurial team should be prepared to provide the complete details of ongoing talks with other venture capitalists.
A)True B)False
Q2) Business plans are seldom obsolete and last throughout the lifecycle of a project.
A)True B)False
Q3) A business plan is:
A) the start of a relationship with the investors.
B) never obsolete.
C) typically outsourced.
D) usually completed after raising outside capital.
Q4) There is not much difference between developing a business plan and screening an opportunity.
A)True B)False
Q5) Briefly discuss the guidelines to be followed for writing an effective business plan.
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Chapter 8: The Entrepreneurial Leader and the Team
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Q1) In growing new ventures,managers appear unconcerned about ____.
A) team goals
B) competence
C) status
D) task supervision
Q2) The startup stage of venture growth is usually referred to as the nascent stage.
A)True
B)False
Q3) Which of the following factors is frequently overvalued while developing a reward system for a venture,particularly the distribution of stock?
A) Bringing to the venture skills or contacts in such areas as marketing and technology
B) Expending a great amount of time in preparing the business plan
C) Bringing to the venture experience and track records
D) Taking adequate responsibility
Q4) The key to success in high-potential ventures is directly related to the talent and quality of the lead entrepreneur and the ____.
Q5) From the high-growth stage of venture growth,a company moves to the _____ stage.
Q6) Briefly discuss the entrepreneurial culture in growing new ventures.
Page 10
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Chapter 9: Ethical Decision Making and the Entrepreneur
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Q1) According to the _____ approach,the aim of each person should be to perfect his or her inherent human nature,and if successful,become a person of virtue.
A) Totalitarian
B) Aristotelian
C) Utilitarian
D) Deontology
Q2) _____ is one of the oldest approaches to ethics provided by Aristotle.
A) Placing one's duty to society over one's self-interest
B) Choosing actions that will provide for the greatest good
C) Focusing on the consequences of an action
D) Emulating exemplary role models
Q3) Who is associated with deontology-one's duty to act?
A) J.Stewart Mill
B) Aristotle
C) Kohlberg
D) Kant
Q4) ____,which is a narrowly defined ethical perspective that can lead to trouble,can be prevented by considering different approaches to the same issue.
Q5) What are the issues associated with the Aristotelian approach to ethics?
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Chapter 10: Resource Requirements
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Q1) The approach of seeking to control the resources needed rather than owning them results in:
A) less capital.
B) less flexibility.
C) increased risk.
D) increased sunk costs.
Q2) Courts have held that even if a director of a company can prove that he or she acted in good faith,the director cannot be excused from liability.
A)True
B)False
Q3) Describe the use of other people's resources (OPR)as an approach for entrepreneurs.
Q4) The best place to start in selecting an attorney is with acquaintances of the lead entrepreneur,of members of the management team,or of directors.
A)True
B)False
Q5) Why are members of a board of advisors not exposed to personal liability like formal board directors?
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Chapter 11: Franchising
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Q1) The road map for marshaling resources for a franchise comes from establishing the ____.
Q2) At the most fundamental level,the _____ is the defining quality of the opportunity recognition process.
Q3) What are the three major profiles used to define the primary target audience?
Q4) If adding suppliers to an approved list is impossible,this constitutes a de-facto _____ agreement.
Q5) Which of the following is the most valuable asset in a franchise system?
A) Tying agreement
B) Trade name
C) Product specification list
D) Transaction analysis
Q6) The service delivery system is the basis for a franchise venture's competitive advantage.
A)True
B)False
Q7) Describe the Service Delivery System (SDS)component of a franchise offering.
Q8) When defining the target audience,_____ variables segment potential customers by their knowledge,attitude,and use of products in order to project usage of the product or service.
Page 13
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Chapter 12: Entrepreneurial Finance
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Q1) An existing business seeking expansion capital or funds for temporary use has a much easier job obtaining both debt and equity.
A)True
B)False
Q2) A new or existing business needs to obtain both equity and debt financing if it is to have a sound financial foundation.
A)True
B)False
Q3) Which critical issue faced by entrepreneurs is concerned with the constituencies for whom value must be created or added to achieve a positive cash flow?
A) Slicing the value pie
B) Covering risk
C) Creating value
D) Ignoring the value pie
Q4) Short-term debt is incurred for _____ months or less.
Q5) What phenomenon is at the heart of the financing challenges faced by new and high revenue growth companies?
Q6) The date a company runs out of money is called ____.
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Chapter 13: Obtaining Venture and Growth Capital
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Q1) What are the three central issues that should be considered when beginning to think about obtaining investment capital?
Q2) With mezzanine financing,the principle amount may be converted into equity.
A)True
B)False
Q3) Discuss how timing is a critical aspect of raising risk capital.
Q4) The single most important criterion for selecting an investor is the size of fund it can provide to an organization.
A)True
B)False
Q5) What is the size of funds provided by mainstream venture capitalists?
A) $25-$50 million under management
B) $50-$100 million under management
C) $250-$499 million under management
D) Over $500 million under management
Q6) Name three non-monetary capabilities a venture capitalist brings to an investment.
Q7) A venture should look for capital only when it has a serious cash shortage.
A)True
B)False
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Chapter 14: The Deal: Valuation, Structure, and Negotiation
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Q1) Explain how strategic circumference relates to fund raising.
Q2) By _____ their capital contributions,venture capitalists maintain the right to abandon a project whose prospects look dim.
Q3) In the context of venture capital investment,discuss the consequences of venturing into an unknown territory.
Q4) The First Chicago evaluation method employs a higher discount rate and applies it to an expected cash flow.
A)True
B)False
Q5) _____ financing is a strategy of last resort that wipes out all previously issued stocks when existing preferred shareholders will not commit additional funds.
Q6) What is the typical expected holding period for a venture capital investment at the seed stage?
A) 3-5 years
B) 4-7 years
C) 5-10 years
D) More than 10 years
Q7) _____ are defined as economic agreements between at least two parties.
Page 16
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Chapter 15: Obtaining Debt Capital
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Q1) Lines of credit must be secured by a pledge of inventory,receivables,equipment,or other acceptable assets.
A)True
B)False
Q2) Banks will lend to a startup if the lead entrepreneur has a track record and is well connected in the local area.
A)True
B)False
Q3) The risk averse nature of commercial lending institutions is consistent with their _____.
A) management structure
B) expertise
C) profit margins
D) legal responsibilities to depositors
Q4) Loans made to finance improvements to business properties and plants are called _____ loans.
Q5) Commercial finance companies lend against the _____ value of assets.
Q6) With regard to personal guarantees,what is meant by "joint and severable?"
Q7) What are the three distinguishing features of term loans?
Page 17
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Chapter 16: Leading Rapid Growth, Crises, and Recovery
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Q1) _____ refers to the problem of starting a firm around an idea without strategically analyzing the firm's opportunities.
Q2) In _____ bankruptcy,creditors force a troubled company into bankruptcy.
Q3) Founders of high-potential ventures are frequently experienced in launching companies.
A)True
B)False
Q4) A company focuses on growth without considering profitability.Instead of developing a strategy,the firm takes on low-margin business and adds capacity in an effort to grow.What is the likely result?
Q5) Which of the following tasks involves the technique called subaccount analysis?
A) Reconstructing a business
B) Determining the available cash
C) Analyzing the differences in financial statements
D) Determining where the money is going
Q6) In highly successful ventures,leadership is based on _____ rather than on authority.
Q7) _____ is not as liquid as receivables but still can be liquidated to generate quick cash.
Page 18
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Chapter 17: The Family As Entrepreneur
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Q1) Most of the small and midsized family-owned businesses in the U.S.are modest and typical mom-and-pop operations.
A)True
B)False
Q2) Family corporate renewal occurs where the family's entrepreneurial activity is focused on _____.
A) creating new streams of value within the family business
B) strategic alliances
C) creating a sense of shared urgency in the organization
D) family holding companies
Q3) Family enterprising is the combination of a _____ ownership mind-set and entrepreneurial strategic methods.
Q4) The goal of dialogue is to find solutions that are not constrained by the boundaries of either of the original positions.
A)True
B)False
Q5) Define enterprising.
Q6) The family _____ category occurs when an existing family company or group starts new businesses.
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Chapter 18: The Harvest and Beyond
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Q1) Having a harvest goal and crafting a strategy to achieve it are what separate successful entrepreneurs from the rest of the pack.
A)True
B)False
Q2) In a _____,founders can attract capital,often in substantial amounts,from a large company interested in their technologies.
Q3) Managing a business that is oriented to harvest is less stressful than managing a business that is not.
A)True
B)False
Q4) For many would-be entrepreneurs,_____ is the most attractive harvest option of all in terms of value.
A) merger
B) acquisition
C) public offering
D) strategic alliance
Q5) What is a critical issue associated with stock-for-stock exchange?
Q6) Harvesting at the right time,willingly,involves hitting one of the many _____ that entrepreneurs face.
Page 20
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