Social Entrepreneurship Quiz

An educational and illustrative image of social entrepreneurship concepts, showcasing diverse entrepreneurs working on social innovation projects with graphs and charts in a vibrant environment.

Social Entrepreneurship Quiz

Are you ready to test your knowledge on social entrepreneurship? This quiz covers key concepts, models, and characteristics of social enterprises and innovations. Dive into the world where social impact meets entrepreneurial spirit!

23 engaging multiple-choice questions
Learn about social value creation
Assess your understanding of social enterprise dynamics

23 Questions6 MinutesCreated by EngagingMind752

1. How can the concept of ‘Social Entrepreneurship’ be defined?

A. A SE is someone that has the right attitude to identify opportunities, leans towards problem-solving and addresses a complex social problem

B. A SE is someone that is making business without economic goals but just with the long-term aim of creating shared value

C. A SE is an entrepreneur that, along with their everyday job, in their free time helps people and gives out their money to different entities.

D. A SE is an entrepreneur that, understanding the complexity of a social problem, decides to solve it only for money reasons, despite the good consequences of its business.

2. What were the macro-dynamics that resulted in the emergence of SEVs? (

A. Crisis of traditional welfare state

B. Increase in competitive pressure within the non-profit sector

C. Abundance of funds within the non-profit sector

D. A and B

3. Which of the following is not true for Model 1 of Social Enterprises, Leveraged Non-profit Ventures?

A. Public goods are delivered to the most economically vulnerable

B. Private goods are delivered to the most economically vulnerable

C. They rely a lot on external partners’ financial and political support

D. Much of the early ventures evolved in the context of strong religious convictions

6. What stages and intervening dimensions are identified when defining a model for a process-based view of social entrepreneurship? (Class 2 MR: A process-based view of social entrepreneurship)

A. Stages: Opportunity identification, evaluation, formalization, exploitation, scaling-up Dimensions: Individual and contextual

B. Stages: Opportunity identification, evaluation, formalization, exploitation; Dimensions: Individual and collaborative

C. Stages: Opportunity evaluation, formalization, exploitation Dimensions: Individual and contextual

D. Stages: Opportunity evaluation, and exploitation Dimensions: Individual and collaborative

7. What is the final key take away of the Stanford Social Innovation Review?

A. To be considered an innovation, a process or outcome must meet two criteria: novelty and improvement

B. Social innovation is a process creating value to society as a whole and not only private individuals

C. Innovation blossoms through cross-sector collaborations

D.None of the above

8. Which characteristics are true for a non-profit (compared to a for-profit)?

A. Tax advantage, social legitimacy, activities highly regulated in particular towards income generation

B. Less regulated, social legitimacy, no tax advantage

C. Tax advantages, market legitimacy, risk of mission drift

D. None of the above

9. Considering hybrid organizations, which hiring approach constrained the rate of growth at first but proved to be sustainable in the long run?

A. Hiring senior candidates with work experience in the market sector

B. Hiring college graduates with essentially no work experience

C. Hiring senior candidates with work experience in the social sector

D. Hiring a mix of senior candidates with work experience in the market and social sector

10. Approaches to dual-mission management vary in approaches to balancing the social and economic mission components. Which of the following is NOT one of the three drivers of the integrated approach?

A. Blended strategic planning

B. Blended governance and management structures

C. Compartmentalisation

D. Tailored production processes

11. Which of the following statements about the indicators to measure and evaluate your organization’s effectiveness in achieving its mission is FALSE?

A. The indicators have to be adapted to the stage of the organization

B. The indicators should be an asset to set and measure interim milestones on the way to longer-term goals

C. The indicators should link back to your mission, theory of change and strategy

D. The larger the number of indicators, the better

12. What is the goal of SROI?

A. The goal of SROI is to quantify social value and see by how much it exceeds financial inputs

B. The goal of SROI is to quantify the financial value of a non-profit entity

C. SROI is a certification to obtain the legal status of B-Corp

D. SROI is a certification to obtain the legal status of cooperative

13. Referring to Muhammad Yunus's definition of a social business, which of these options is wrong?

A. Repayment of invested capital is not allowed

B. From an organizational point of view, social businesses are basically the same as profit-maximizing

C. Dividend payments are not allowed

D. Social businesses need to recover their full costs to be self-sustainable

15. Which of these characteristics does NOT represent a barrier for future development of Venture Philanthropy (VP)?

A. The ambiguity of the social dimension, dictating what is and what isn't an entrepreneurial innovation

B. The 'engaged giving' philosophy, as the long-term prospects for SEVs are uncertain, making deeper relationships riskier for VPs, especially the ones established more recently.

C. Gaps in financing to social enterprises, as newly established VPs may find too risky to finance even the most promising, yet under-developed, social start-ups

D. Lack of necessary expertise, as financing organizations tend to focus on specific fields of intervention or geographical regions, making financing models hard to replicate elsewhere

16. Which of the statements does describe the core characteristics of impact investing more accurately?

A. The two core elements of impact investing are (1) financial return of an investment, which can range from below-market-rate to market-rate, and (2) any non-financial impact which could be either direct or indirect consequence of the investment.

B. The two core elements of impact investing are (1) financial return of an investment, which, however, shall never achieve market-rate, and (2) non-financial impact (environmental, social, etc) which must always be intentional, and could not be an incidental side-effect of the investment.

C. The two core elements of impact investing are (1) financial return of an investment, which can range from below-market-rate to market-rate, and (2) non-financial impact (environmental, social, etc) which must always be intentional, and could not be an incidental side-effect of the investment.

D. The core elements of impact investing are (1) particular categories of the end beneficiaries such as poor, marginalized, or vulnerable populations, and (2) specific financial instruments involved, for instance, social-impact bonds.

17. Which of the following options is NOT an ingredient to conduct a SCRI?

A. Find a common measurement of the charity's outcomes that is meaningful to all the stakeholders

B. Engage the charity's stakeholders

C. Collect quantitative data about inputs, outputs and outcomes of the charity

D. Give a financial value, where possible, to the charity’s outcomes

18. Which is true of the common mechanisms for scaling social impact - dissemination, affiliation, and branching?

A. From dissemination to branching, a decreasing degree of central coordination and greater resources are typically required

B. From dissemination to branching, an increasing degree of central coordination and greater resources are typically required

C. From dissemination to branching, an increasing degree of central coordination and less resources are typically required

D. From dissemination to branching, a decreasing degree of central coordination and less resources are typically required

19. Why is it necessary to develop a score sheet of the target beneficiary population that might adopt your social innovation?

A. To see with which potential beneficiaries may have a high rate of acceptance of the innovation.

B. To see which potential beneficiaries you should target first as part of your social business plan

C. To see which beneficiaries have a high probability of adopting your innovation fast enough, with a view to lowering the total costs of the project.

D. All of the Above

20. When talking about social entrepreneurship, is it preferable to have a product or a beneficiary orientation?

A. A product orientation because you can think of who would be the best target beneficiary only after having developed the product you will offer and/or sell.

B. A beneficiary orientation as it is necessary to first develop a clear idea of who your target beneficiaries would be before proceeding to finalize the features of the social service/product that you will offer/sell them.

C. A product orientation because the goal of social entrepreneurship is of maximizing sales of the product to reinvest profits in local communities

D. A beneficiary orientation as it is necessary to take into consideration the social norms and dynamics that might affect your target beneficiaries' capability to benefit from your suggested solution

21. While developing the sociopolitical strategy of your social enterprise, identifying major current issues occupying stakeholders’ attention is crucial because

A. It is a valuable tool for your advisory group members when you discuss your planned activities with them.

B. It creates a protected niche position where you can get your venture going without being subjected to immediate hostile opposition.

C. It helps to determine which of your actions they will be most sensitive and reactive to. It helps you better understand the basis of stakeholder opposition, stakeholder support, or stakeholder indifference.

D. You need individuals and organizations willing to protect your growing enterprise from unnecessary delays and to help you get through the bureaucratic morass when it holds you back, seemingly indefinitely

22. The concept statement highlights 4 main subcategories of social entrepreneurship

A. Mission, Vision, Values, Strategy

B. Heading, Assets, Liability and Equity

C. Mission, Strategy, Financial Analysis, Stakeholder Framework

D. The problem and the proposed solution, Business proposition, Market and competition, Sociopolitical landscape

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