Foundation of SE
Traditional businesses focus primarily on profit, while social enterprises focus primarily on this.
What is Social Impact?
Name TWO social problems mentioned in the readings that entrepreneurs can address.
What are any two of: Poverty, food insecurity, plastic pollution, lack of access to education, healthcare disparities, discrimination?
Name the "3 Ps" that make up the Triple Bottom Line framework.
What are People, Planet, Profit?
This type of business model is owned and democratically controlled by its members, who share in the profits.
What is a Cooperative (Co-op)?
Unlike loans or equity investments, this type of funding provided by governments or foundations does NOT need to be repaid.
What are Grants?
Name TWO key characteristics of a social entrepreneur listed in the readings.
What are any two of: Mission-driven, Innovative mindset, Resilience/Persistence, Collaborative spirit, Focus on impact measurement?
Before launching a product or service, entrepreneurs conduct market research to assess this to ensure people will pay for or engage with their solution.
What is Market Demand (or Feasibility)?
This person introduced the Triple Bottom Line framework in the mid-1990s.
Who is John Elkington?
This hybrid corporate structure operates as a for-profit business but legally commits to social and environmental goals alongside profits.
What is a Benefit Corporation (B Corp) (or L3C)?
Investors or funds that provide capital to social ventures seeking both financial returns and measurable social impact are called this.
What are Impact Investors?
Unlike traditional non-profits that rely mainly on grants and donations, social enterprises use these types of income strategies to stay financially sustainable.
What are Earned Income Strategies (or commercial revenue streams)?
This UK-based social enterprise empowers people experiencing homelessness by letting them sell magazines and keep the profits.
What is The Big Issue?
The "People" pillar of TBL focuses on improving working conditions, promoting equality, and investing in this.
What is Community Development (or local communities/society)?
Founded by Muhammad Yunus in Bangladesh, this cooperative bank pioneered microfinance for low-income individuals
What is Grameen Bank?
Kickstarter, GoFundMe, and Indiegogo are online platforms used for this type of public fundraising.
What is Crowdfunding?
This model, used by companies like TOMS and Warby Parker, donates a product to someone in need for every item purchased.
What is the "One-for-One" Model?
Name TWO direct methods social entrepreneurs use to research and understand a community's needs.
What are any two of: Surveys, research, direct community engagement/listening?
This global carpet company created "Mission Zero" to eliminate its negative environmental impact using circular economy principles.
What is Interface?
The core foundation of a business model that clearly explains both the social impact and financial value offered is called this.
What is a Value Proposition?
Social enterprises have a "blended value proposition." Why can this make traditional investors hesitant to invest?
What is Investors may worry that prioritizing social impact will lower or slow down financial returns?
Why is financial sustainability just as important as social impact for a social enterprise?
What is Without financial sustainability, the venture cannot survive or scale its impact long-term without external funding?
Ben & Jerry's aligns its business goals with its social mission by sourcing these types of certified ingredients to support farmers.
What are Fairtrade-certified ingredients?
Describe a trade-off a business might face when balancing the "Planet" and "Profit" pillars.
What is Sourcing eco-friendly/sustainable materials can cost more, which may reduce short-term profitability?
Instead of requiring physical collateral, Grameen Bank relies on this system among small groups of borrowers to ensure loans are repaid.
What is Group Responsibility / Mutual Accountability?
Name TWO critical elements a social entrepreneur must include when pitching their venture to potential funders
What are any two of: Impact metrics, proof of financial viability/projections, risk mitigation strategies, tailored message matching funder values?