Chapter 4 Flashcards
What is Social entrepreneurship?
Social entrepreneurship is a type of entrepreneurship that uses innovative approaches and risk-taking to solve social problems, focusing on creating positive change on a larger scale, just like traditional private sector entrepreneurship.
What are the three steps of Social Entrepreneurship Process?
The three steps of Social Entrepreneurship Process are:
1) Identifying social opportunity
2) setting enterprise goals
3) Acquiring resources to achieve enterprise goals
What are the challenges of Social Entrepreneurship firms?
The challenges of Social Entrepreneurship firms are:
1) reacting to social issues through obligation of laws.
2) responding actively to social issues and
3) accepting responsibility of initiating programs.
4) being highly proactive and willing to be evaluated by public
On what factors can the nature
of Social Enterprise vary?
The factors based on which the nature of Social Enterprise can vary include:
1) Environment
2) Conservation of Energy
3) Human Resources
4) Community involvement
5) Fair Business Practices
6) Production
What are the two Dimensions of Behavior of Social Enterprises?
the two Dimensions of Behavior of Social Enterprises are:
1) Responses to social pressures
2) Philanthropy
What are the three stages of behavioral response of social enterprises?
The three stages of behavioral response of social enterprises are:
1) Stage one: social obligation
2) stage two: social responsibility
3) Social responsiveness
Give examples of social enterprises
examples of social enterprises are:
1) TOMS: A footwear company that operates on a one-for-one model, donating a pair of shoes to a person in need for every pair purchased.
2) Patagonia: An outdoor clothing company that prioritizes environmental sustainability and donates a percentage of its profits to environmental causes.
What is Business ethics?
Business ethics are principles that guide good and right behavior in business, outlining moral duties and providing guidelines for conducting activities acceptably.
Describe the CONCEPTUAL FRAMEWORK FOR DECISION MAKING in business
he CONCEPTUAL FRAMEWORK FOR DECISION MAKING is centered around corporate decisions, followed by their manifestation, and their codification which consists of 4 quadrants based on ethics and legality:
(Clockwise from the right)
Quad 1= Ethical & legal (++)
Quad 2= Unethical & legal (-+)
Quad 3= Unethical & illegal (–)
Quad 4= Ethical & illegal (+-)
What are the Managerial Rationalizations/Justifications in defense of unethical acts?
The Managerial Rationalizations/Justifications in defense of unethical acts
are believing that an activity is:
a). not “really” illegal or unethical
b). in the individual’s or the corporation’s best interest.
c). what helps the company will be condoned by the company
d) Will never be found out.
What are the different types of Morally Questionable Acts?
the different types of Morally Questionable Acts are
A) Against the firm
1) Non-role (like stealing)
2) Role-failure (like not confronting stealing)
B) For the firm
3) Role distortion ( like bribery)
4) Role assertion (insufficient safety measures)
Can Ethical conduct reach beyond the limits of law?
Yes, Ethical conduct reach beyond the limits of law.
Can Requirements of law be same as/identical to ethics of society?
Requirements of law and ethics of society may overlap at times i.e., they may have similarities, but they are not the same/identical.
Is it true or false:
Legal requirements tend to be negative(forbidding acts),
whereas morality tends to be positive(encouraging acts).
Generally True: legality forbids acts (such as theft) so its negative and morality encourages acts (such honesty) so it is positive.
Is it true or false:
Legal requirements
usually lag behind the
acceptable moral
standards of society.
true: In some cases, certain actions or practices that are considered morally unacceptable by a significant portion of the society may not yet be prohibited by law. (example: majority of muslims believe that interest is not socially acceptable as rule in islam, but it is not yet illegal by law in majority of places if not all)
