ENT 3003 Chapter 3 Exam Questions Answered Correctly Latest Update 2026/2027
social entrepreneurship - Answers the process of identifying pressing social and environmental
problems in society and creating sustainable solutions for positive and long-term impact.
social venture - Answers businesses created by social entrepreneurs to resolve social or
environmental problems.
Social innovation - Answers a novel solution to a social problem that is more effective, efficient,
or just than existing solutions and for which the value created accrues primarily to society as a
whole rather than private individuals
social value - Answers the quantification of value beyond monetary value that is created when
people experience changes in their lives.
What is the main difference between social and traditional entrepreneurs? - Answers the
mission they set out to accomplish
Social value is created when a social innovation is ______. - Answers used
Unlike traditional solutions, social innovations tend to ______. - Answers solve more complex
problems
Social entrepreneurship is the process of sourcing innovative solutions to social and
environmental problem - Answers True
Wicked problems - Answers large, complex social problems for which there is no clear or
obvious solution; where there is limited, confusing, or contradictory information available; and
where a whole range of people with conflicting interests engage in debate or solution
generation.
The focus of the UN Sustainable Development Goals is to bring recycling to all countries. -
Answers False
As discussed in the example of the Interaction Design Foundation in the text, recycling may not
be the best solution to the "wicked problem" of ______. - Answers sustainability
Complex, large-scale social problems with no clear solution were termed ______ problems by
scholars in the 1960s. - Answers wicked
for-profit social venture - Answers a business that has a dual mission, aiming to achieve both
social or environmental objectives and financial sustainability.
shared value - Answers a framework designed to create economic value while providing
solutions to social and environmental problems
Enterprising nonprofits - Answers a form of social entrepreneurship where both the venture
, mission and the market impact are for social purposes.
earned-income activities - Answers the sale of products or services that are used as a source of
revenue generation.
Hybrid social ventures - Answers organizations that engage in revenue-generating activities
while also having a philanthropic strategy to help deliver social value
Goodwill, the organization that trains hundreds of thousands of people and operates more than
3,000 donation clothing stores across the United States, is an enterprising nonprofit. - Answers
True
For-profit social ventures consider profit as an added benefit to achieving their social mission. -
Answers False
Which term describes social ventures that are for-profit with a philanthropic orientation? -
Answers hybrid
A nonprofit that generates funds by selling items uses which form of revenue generation? -
Answers product
Social venture capital (SVC - Answers a form of investment funding that focuses on social
ventures with a social or environmental mission.
Venture philanthropy - Answers a type of impact investment in which investors support social
ventures by applying some principles of venture capital funding.
Venture philanthropists fund and support for-profit social ventures until they become financially
self-sustaining. - Answers False
The social venture capitalist (SVC) market is a growing one. - Answers True
Which is true about the actions of an impact investment fund? - Answers It seeks a return on
investment and aims to make a social impact.
stakeholders - Answers the people or groups affected by or involved with the achievements of
the social enterprise's objectives.
When assessing the attributes of stakeholders, a social entrepreneur must consider if the
stakeholder's actions are appropriate, proper, and desired (within the enterprise's context). If so,
what is that stakeholder said to have? - Answers legitimacy
Which model will help social entrepreneurs prioritize the needs of different stakeholders at a
particular time? - Answers salience
Which type of stakeholders have both power and legitimacy? - Answers dominant
social entrepreneurship - Answers the process of identifying pressing social and environmental
problems in society and creating sustainable solutions for positive and long-term impact.
social venture - Answers businesses created by social entrepreneurs to resolve social or
environmental problems.
Social innovation - Answers a novel solution to a social problem that is more effective, efficient,
or just than existing solutions and for which the value created accrues primarily to society as a
whole rather than private individuals
social value - Answers the quantification of value beyond monetary value that is created when
people experience changes in their lives.
What is the main difference between social and traditional entrepreneurs? - Answers the
mission they set out to accomplish
Social value is created when a social innovation is ______. - Answers used
Unlike traditional solutions, social innovations tend to ______. - Answers solve more complex
problems
Social entrepreneurship is the process of sourcing innovative solutions to social and
environmental problem - Answers True
Wicked problems - Answers large, complex social problems for which there is no clear or
obvious solution; where there is limited, confusing, or contradictory information available; and
where a whole range of people with conflicting interests engage in debate or solution
generation.
The focus of the UN Sustainable Development Goals is to bring recycling to all countries. -
Answers False
As discussed in the example of the Interaction Design Foundation in the text, recycling may not
be the best solution to the "wicked problem" of ______. - Answers sustainability
Complex, large-scale social problems with no clear solution were termed ______ problems by
scholars in the 1960s. - Answers wicked
for-profit social venture - Answers a business that has a dual mission, aiming to achieve both
social or environmental objectives and financial sustainability.
shared value - Answers a framework designed to create economic value while providing
solutions to social and environmental problems
Enterprising nonprofits - Answers a form of social entrepreneurship where both the venture
, mission and the market impact are for social purposes.
earned-income activities - Answers the sale of products or services that are used as a source of
revenue generation.
Hybrid social ventures - Answers organizations that engage in revenue-generating activities
while also having a philanthropic strategy to help deliver social value
Goodwill, the organization that trains hundreds of thousands of people and operates more than
3,000 donation clothing stores across the United States, is an enterprising nonprofit. - Answers
True
For-profit social ventures consider profit as an added benefit to achieving their social mission. -
Answers False
Which term describes social ventures that are for-profit with a philanthropic orientation? -
Answers hybrid
A nonprofit that generates funds by selling items uses which form of revenue generation? -
Answers product
Social venture capital (SVC - Answers a form of investment funding that focuses on social
ventures with a social or environmental mission.
Venture philanthropy - Answers a type of impact investment in which investors support social
ventures by applying some principles of venture capital funding.
Venture philanthropists fund and support for-profit social ventures until they become financially
self-sustaining. - Answers False
The social venture capitalist (SVC) market is a growing one. - Answers True
Which is true about the actions of an impact investment fund? - Answers It seeks a return on
investment and aims to make a social impact.
stakeholders - Answers the people or groups affected by or involved with the achievements of
the social enterprise's objectives.
When assessing the attributes of stakeholders, a social entrepreneur must consider if the
stakeholder's actions are appropriate, proper, and desired (within the enterprise's context). If so,
what is that stakeholder said to have? - Answers legitimacy
Which model will help social entrepreneurs prioritize the needs of different stakeholders at a
particular time? - Answers salience
Which type of stakeholders have both power and legitimacy? - Answers dominant
