1/29/2015

SocialEntrepreneurshipExam#1flashcards|Quizlet

Social Entrepreneurship Exam #1

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21 terms by callieburke23

HighIncome

Havebasicneedsandnumerouscomforts
(plumbing,heatedhomes,automobiles)

MiddleIncome

Havebasicneedsandsomecomforts
(indoorplumbing)

Poor

Havebasicneeds,andlittleelse

Extremelypoor

lackadequatefood,shelter,andsanitation
(can'treachtheladder)

BenefitsofMicrofinance

Equipspeopletoprovideforthemselves
Equipsbusinessestooffergoodsand
servicestopoorcommunities
Encouragessaving
Buildsconfidence

Potentialmicrofinanceproblemsforthe
poor

Rarelyreachestthepoorestpoor
Potentialforabusivelendingpractices
Maycausehardshipifpoorpeoplecan't
repayloan
Cancreatedependenceonloans

Potentialmicrofinanceproblemsfor
management

balancingcommercialviabilityand
mission
exchangeraterisk
politicalrisk
costofmonitoringuseofmoneyand
repayment

ImportantcharacteristicsofaSocial
Entrepreneur

motivated,humble,goodproblemsolver,
interpersonalskills,willingtoacceptrisk,
resolute

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1/29/2015

SocialEntrepreneurshipExam#1flashcards|Quizlet

Habitstodevelopthequalitiesweneedto
changetheworld

Nurtureaconstructiveworldview(hope,
personalresponsibility,acceptance,
stewardship)
Keeplearning
Spendtimewiththepoor
Spendtimewithotherentrepreneurs

Whatdoentrepreneursdo?

Recognizeopportunity,innovate,andseek
results

Stagesintheentrepreneurshipprocess

1.Opportunityrecognition
2.Conceptdevelopment
3.resourcedeterminationandacquisition
4.Launchandventuregrowth
5.Harvesttheventure

Categoriesofsocialventure

1.startanewprocessorservice
2.expandanexistingprocessorservice
3.expandanexistingactivityforanew
groupofpeople
4.Expandanexistingactivitytoanew
geographicalarea
5.Acquireanexistingbusiness
6.partnerormergewithanexisting
business

OpportunityIdentificationProcess

1.Feedtheimagination
2.identifyproblem,need,orinefficiency
3.identifythreeorganizationsthatmeet
thisorasimilarneed
4.brainstormidealwaystomeettheneed
5.consideringwhatalreadyexistsand
whatisideal,whatdoyoupropose?
6.decidehowtomeasuresuccess
7.estimatethesizeofthemarket
8.estimatehowmuchofthisneedyour
venturewillmeetusingyourmeasureof
success
9.estimatetheneededhumanandfinancial
resources
10.determinewheretoseekthese
resources

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Whenarewemostlikelytoobserve
entrepreneurship?

1.environment
2.resources
3.perturbation
4.personaltraits
5.preparation

Networking

Innovatorsgooutoftheirwaytomeet
peoplewithdifferentideasand
perspectives

Observing

Scrutinizebehaviorofpotentialcustomers.
Observeactively

Questioning

Innovatorsconstantlyaskquestionsthat
challengethecommonwisdom

Associating

Abilitytoconnectseeminglyunrelated
questions,problems,orideasfrom
differentfields

Experimenting

Innovativeentrepreneursactivelytryout
newideasbycreatingprototypesand
launchingpilots

10waystoidentifyingopportunity

1.Redefineinconvenience
2.Redefineriskasopportunity
3.Opportunitiesinsecondarymarkets
4.Buyinginbulkandsellingsmaller
quantities
5.Noticehowthingsaremade
6.Studythevaluechain
7.Lookforchangeintechnology,public
policy,demographics,etc.
8.Thinkofneedsthatbusinesseshave
9.knowyourstrengthsbutdon'tbelimited
bythem
10.findlowcostwaystotrynewideas,to
reducetheriskoffailure

Whatisamicroloan?

Extendingsmallloanstopeopleat
reasonableterms

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