Social Entrepreneurship Exam 1 Review Verified Answers
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Social Entrepreneurship Exm 1
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Social Entrepreneurship Exm 1
Social Entrepreneurship Exam 1 Review Verified Answers
Opportunity recognition; concept development; resource determination and acquisition; launch and
venture growth; goal attainment ️Five parts that make up the process of entrepreneurship (social
entrepreneurship)?
Environmental ️Theo...
Social Entrepreneurship Exam 1 Review Verified Answers
Opportunity recognition; concept development; resource determination and acquisition; launch and
venture growth; goal attainment ✔️Five parts that make up the process of entrepreneurship (social
entrepreneurship)?
Environmental ✔️Theory of Entrepreneurship:
Under this view, entrepreneurship is a latent condition in the population that is stimulated when the
environment is conducive to it. This environment can be inside a firm, in a person's social circle, or even
in public policy and politics.
Resource ✔️Theory of Entrepreneurship:
This theory focuses on the availability of resources for new venture. The idea here is that the availability
of financial capital, human resources, and human capital are the key to understanding why
entrepreneurs decide to try and exploit an opportunity.
Perturbation (Displacement) ✔️Theory of Entrepreneurship:
Also known as _______, this theory argues that entrepreneurship occurs when people are displaced
from their regular business routines by political, cultural, or economic factors.
Personal Traits (displacement) ✔️Theory of Entrepreneurship:
This class of theories holds that there are identifiable traits of an "entrepreneurial personality."
Entrepreneurship occurs because people with these traits are able to operationalize their tendencies.
Preparation ✔️Theory of Entrepreneurship:
Related to personality traits is the idea that entrepreneurship can be taught, and hence it depends on
factors such as education and work experience.
,Environment; resources; perturbation; personal traits; Preparation ✔️What are the 5 theories of
entrepreneurship
Environmental factors; Availability of financial and nonfinancial resources; Perturbation of the
environment ✔️What are the External Forces of Entrepreneurship?
Entrepreneurial Personality Traits; Preparation to Exploit Opportunities ✔️What are the Internal Forces
of Entrepreneurship?
Environmental factors ✔️External force of Entrepreneurship:
Deals with:
- Whether the social climate is conducive to entrepreneurship
- The political climate that facilitates social innovation
Perturbation of the environment ✔️External force of entrepreneurship:
Deals with:
- Political Change
- Cultural Change
- Economic Change
Preparation to Exploit Opportunities ✔️Internal Force of Entrepreneurship:
Deals with:
- Education
- Experience
, Myth ✔️T/Myth: S.ENTPs are anti-business
Myth ✔️T/Myth: The difference between commercial entrepreneurship and social entrepreneurship is
greed.
Myth ✔️T/Myth: Social entrepreneurs always run nonprofits
True ✔️T/Myth: S.ENTPs are Made not Born
Myth ✔️T/Myth: S.ENTPs are Misfits
Myth ✔️T/Myth: S.ENTPs usually fail
Myth ✔️T/Myth: S.ENTPs love risk
Entrepreneurship ✔️the process of pursuing opportunities without limitation by resources currently in
hand.
unmet by private markets or governments ✔️When we look into the definition of Social
Entrepreneurship: we see that it
- addresses social problems or needs that are _______________________________________
Social Benefit ✔️When we look into the definition of Social Entrepreneurship: we see that it
- is motivated by _____________
with ✔️When we look into the definition of Social Entrepreneurship: we see that it
- generally works ______ market forces
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