What is the primary goal of a social entrepreneurship venture?
a) Maximizing profits
b) Solving social problems
c) Competing with established businesses
d) Acquiring venture capital
Answer: b) Solving social problems
Which term refers to the practice of generating revenue to sustain and grow a social enterprise’s activities?
a) Philanthropy
b) Crowdfunding
c) Social investment
d) Volunteering
Answer: c) Social investment
What is the concept of a “double bottom line” in social entrepreneurship?
a) Generating two different types of products
b) Achieving both financial and social impact
c) Focusing on dual marketing strategies
d) Operating in two different industries
Answer: b) Achieving both financial and social impact
Which term refers to the process of creating new products, services, or business models to address social issues?
a) Innovation
b) Imitation
c) Replication
d) Outsourcing
Answer: a) Innovation
What is the main source of funding for many social enterprises in the UK?
a) Government grants
b) Bank loans
c) Venture capital
d) Stock market listings
Answer: a) Government grants
Which type of legal structure allows a social enterprise to pursue both social and financial goals?
a) Non-profit organization
b) Limited liability partnership
c) Sole proprietorship
d) Community interest company (CIC)
Answer: d) Community interest company (CIC)
What is the “triple bottom line” framework in social entrepreneurship?
a) Focusing on three different target markets
b) Maximizing profits, social impact, and innovation
c) Measuring financial, social, and environmental performance
d) Balancing three different types of products
Answer: c) Measuring financial, social, and environmental performance
Which approach involves collaborating with other organizations to address complex social challenges?
a) Competitive strategy
b) Isolation strategy
c) Partnership strategy
d) Segmentation strategy
Answer: c) Partnership strategy
What does the term “impact investing” refer to in social entrepreneurship?
a) Investing in companies solely for financial returns
b) Investing in companies without any expected returns
c) Investing in companies for both financial and social returns
d) Investing in companies to maximize tax benefits
Answer: c) Investing in companies for both financial and social returns
Which organization in the UK supports and promotes social enterprises through training, funding, and advocacy?
a) Royal Society for the Protection of Birds (RSPB)
b) National Health Service (NHS)
c) Social Enterprise UK
d) Her Majesty’s Revenue and Customs (HMRC)
Answer: c) Social Enterprise UK
What is a “social impact bond” (SIB) in the context of social entrepreneurship?
a) A bond issued by the government to fund social enterprises
b) A financial instrument used to raise funds for non-profit organizations
c) A financial arrangement where investors are repaid based on the achievement of specific social outcomes
d) A bond that focuses solely on environmental impact projects
Answer: c) A financial arrangement where investors are repaid based on the achievement of specific social outcomes
What term describes the process of transitioning a social enterprise to financial self-sustainability?
a) Pivot
b) Scaling
c) Fundraising
d) Graduation
Answer: d) Graduation
What does the term “mission drift” refer to in social entrepreneurship?
a) The intentional shift in organizational goals for financial gain
b) The tendency to pursue only social goals and ignore financial viability
c) The need for constant reassessment of a social enterprise’s mission
d) The practice of outsourcing key business functions
Answer: a) The intentional shift in organizational goals for financial gain
Which term refers to a social enterprise’s primary objective, outlining its intended social impact?
a) Vision statement
b) Business plan
c) Financial forecast
d) Social mission
Answer: d) Social mission
What is the process of measuring and reporting a social enterprise’s non-financial performance?
a) Financial reporting
b) Social accounting
c) Competitive analysis
d) Market research
Answer: b) Social accounting
What does the term “social innovation” mean in the context of social entrepreneurship?
a) Adopting traditional business practices for social causes
b) Implementing technological advancements for financial gain
c) Developing new solutions to address social challenges
d) Replicating successful business models
Answer: c) Developing new solutions to address social challenges
Which type of business model involves selling products or services to generate revenue for social impact?
a) Non-profit model
b) Charity model
c) Hybrid model
d) Donation-based model
Answer: c) Hybrid model
What term describes the act of creating employment opportunities for marginalized individuals?
a) Workforce optimization
b) Employment redistribution
c) Social hiring
d) Labor enrichment
Answer: c) Social hiring
Which factor plays a significant role in the success of a social enterprise’s mission?
a) Competing with established corporations
b) Generating the highest possible financial return
c) Achieving a balance between financial and social objectives
d) Avoiding partnerships with other organizations
Answer: c) Achieving a balance between financial and social objectives
What is “patient capital” in the context of social entrepreneurship?
a) Capital invested in medical research
b) Capital invested with a long-term perspective on achieving social impact
c) Capital invested in healthcare-related enterprises
d) Capital invested in projects with quick financial returns
Answer: b) Capital invested with a long-term perspective on achieving social impact
What is the primary purpose of a social enterprise’s theory of change?
a) Demonstrating how the organization is a charity
b) Outlining how the organization generates revenue
c) Illustrating how the organization achieves its intended social impact
d) Describing how the organization achieves profit maximization
Answer: c) Illustrating how the organization achieves its intended social impact
Which term refers to the process of adapting a successful social enterprise model to a new location or context?
a) Innovation
b) Imitation
c) Replication
d) Outsourcing
Answer: c) Replication
What does the term “bottom of the pyramid” refer to in social entrepreneurship?
a) The least financially profitable segment of the population
b) The top income earners in society
c) A market segment targeted by luxury brands
d) A reference to the overall economy’s stability
Answer: a) The least financially profitable segment of the population
Which organization supports and promotes social entrepreneurship among young people in the UK?
a) Social Enterprise UK
b) The Prince’s Trust
c) National Health Service (NHS)
d) Community interest company (CIC)
Answer: b) The Prince’s Trust
What is the primary goal of impact measurement and assessment in social entrepreneurship?
a) Comparing social enterprises to traditional businesses
b) Demonstrating financial viability to investors
c) Providing evidence of the social impact created
d) Evaluating competition within the social sector
Answer: c) Providing evidence of the social impact created
Which term refers to the practice of using business strategies to address environmental challenges?
a) Social entrepreneurship
b) Green entrepreneurship
c) Sustainable entrepreneurship
d) Ethical entrepreneurship
Answer: b) Green entrepreneurship
What is “shared value” in the context of social entrepreneurship?
a) A concept where businesses focus solely on their own profits
b) A strategy to create economic value while addressing social issues
c) A business model that prioritizes charity over profitability
d) A term used to describe government subsidies for social enterprises
Answer: b) A strategy to create economic value while addressing social issues
Which term describes the process of a social enterprise expanding its operations to increase its social impact?
a) Shrinking
b) Scaling
c) Contracting
d) Downsizing
Answer: b) Scaling
What does the term “ethical consumerism” mean in the context of social entrepreneurship?
a) Consumers making purchases based solely on price
b) Consumers making choices that align with their values and beliefs
c) Consumers avoiding all purchases to reduce consumption
d) Consumers disregarding the ethical practices of companies
Answer: b) Consumers making choices that align with their values and beliefs
Which term refers to the process of a social enterprise changing its business model to better achieve its mission?
a) Pivot
b) Transformation
c) Expansion
d) Replication
Answer: a) Pivot
What is the “social return on investment” (SROI) in social entrepreneurship?
a) The amount of profit generated by a social enterprise
b) The financial gain experienced by social investors
c) The ratio of social impact to financial investment
d) The total number of customers served by a social enterprise
Answer: c) The ratio of social impact to financial investment
Which term describes the process of a social enterprise shifting its focus to achieve a broader impact?
a) Narrowing
b) Focusing
c) Diluting
d) Broadening
Answer: d) Broadening
What is the primary goal of a “buy one, give one” business model in social entrepreneurship?
a) Maximizing profit margins
b) Selling products to the highest bidder
c) Addressing social challenges through charitable donations
d) Providing consumers with discounted products
Answer: c) Addressing social challenges through charitable donations
Which term refers to the process of a social enterprise shifting its focus to achieve a narrower impact?
a) Broadening
b) Niche targeting
c) Expanding
d) Focusing
Answer: d) Focusing
What does the term “social intrapreneurship” mean?
a) Starting a social enterprise within an existing organization
b) Starting a non-profit organization
c) Partnering with government agencies for social impact
d) Working for a traditional business while supporting social causes
Answer: a) Starting a social enterprise within an existing organization
Which term refers to the process of reducing a social enterprise’s operations or impact?
a) Shrinking
b) Scaling
c) Expanding
d) Pivoting
Answer: a) Shrinking
What is the primary purpose of a social enterprise’s “theory of change”?
a) Demonstrating the organization’s financial stability
b) Outlining the organization’s approach to marketing
c) Illustrating how the organization plans to pivot
d) Describing how the organization will create social impact
Answer: d) Describing how the organization will create social impact
Which term refers to the process of developing a sustainable business model for a social enterprise?
a) Impact assessment
b) Business planning
c) Financial forecasting
d) Philanthropic strategy
Answer: b) Business planning
What is the main focus of “social incubators” in the context of social entrepreneurship?
a) Providing funding for established social enterprises
b) Supporting new social enterprises in their early stages
c) Advocating for changes in government policies
d) Promoting traditional business practices
Answer: b) Supporting new social enterprises in their early stages
Which term describes the process of a social enterprise adjusting its approach in response to changing circumstances?
a) Scaling
b) Replicating
c) Pivoting
d) Focusing
Answer: c) Pivoting
What is “hybrid value creation” in the context of social entrepreneurship?
a) Creating value solely for financial gain
b) Balancing social and environmental impacts
c) Ignoring environmental concerns for profitability
d) Reducing social impact for increased profit
Answer: b) Balancing social and environmental impacts
Which term refers to the process of expanding a social enterprise’s operations to new geographical areas?
a) Niche targeting
b) Market segmentation
c) Geographical diversification
d) Replication
Answer: c) Geographical diversification
What does the term “social accelerator” mean?
a) An organization that supports social enterprises through advocacy
b) An organization that provides mentorship and funding to new social enterprises
c) An organization that solely focuses on financial returns
d) An organization that specializes in charity work
Answer: b) An organization that provides mentorship and funding to new social enterprises
Which term describes a social enterprise’s plan for achieving its intended social impact?
a) Business model
b) Financial forecast
c) Social mission
d) Theory of change
Answer: d) Theory of change
What is the primary goal of “impact investing”?
a) Maximizing profits for investors
b) Generating financial returns for the government
c) Achieving both financial and social returns
d) Funding traditional business ventures
Answer: c) Achieving both financial and social returns
Which term describes the process of growing a social enterprise’s operations to serve a larger audience?
a) Narrowing
b) Scaling
c) Expanding
d) Focusing
Answer: b) Scaling
What is the primary focus of a “charitable trading” business model in social entrepreneurship?
a) Maximizing profit margins
b) Donating all revenue to charity
c) Creating products solely for social impact
d) Selling products or services to generate revenue for social objectives
Answer: d) Selling products or services to generate revenue for social objectives
Which term refers to the process of a social enterprise pivoting its approach to better achieve its intended social impact?
a) Narrowing
b) Scaling
c) Expanding
d) Broadening
Answer: d) Broadening
What is “social capital” in the context of social entrepreneurship?
a) Financial investments made in social enterprises
b) The networks and relationships that contribute to social impact
c) Charitable donations made to support social causes
d) The amount of revenue generated by a social enterprise
Answer: b) The networks and relationships that contribute to social impact
Which term describes the process of a social enterprise expanding its operations to reach a more targeted audience?
a) Shrinking
b) Scaling
c) Broadening
d) Focusing
Answer: d) Focusing
