Lecture 1: Understanding social & environmental entrepreneurship Flashcards
(20 cards)
What are the Sustainable Development Goals (SDGs)?
A common language, call to action, goals and sub goals, targets, measurement and comparison, and a source of entrepreneurial opportunities
What is the main goal of the lecture on Social & Environmental Entrepreneurship?
To understand how Social & Environmental Entrepreneurship differs from traditional entrepreneurship
What is the PCDO Model?
A framework by Austin et al. (2006) used to analyze entrepreneurship through People, Context, Deal, and Opportunity
What is the key distinction between value creation and value capture in traditional entrepreneurship?
Value capture for the organization (and owners) and value creation for its customers
How is social entrepreneurship defined according to Haugh (2007)?
The simultaneous pursuit of economic, social, and environmental goals by enterprising ventures
What are the distinct goals of social entrepreneurs compared to traditional commercial entrepreneurs?
Aim to achieve sustainable solutions rather than sustainable competitive advantage
In the context of social entrepreneurship, what does ‘logic of empowerment’ refer to?
Beneficiaries, users, and partners become a part of the solution
What are the key differentiators between commercial and social entrepreneurship?
- Commercial focus maximizes economic value capture
- Social/environmental mission focuses on creating social/environmental value
What does the ‘logic of control’ in commercial entrepreneurship emphasize?
Dominating the market, reducing competition, and managing value chains to appropriate value
What is the focus of social entrepreneurship regarding profits?
Reinvest profits in the enterprise mission
What does the PCDO model provide insights into?
Four critical considerations for commercial entrepreneurship: People, Context, Deal, Opportunity
What challenges do social enterprises face in obtaining resources?
- Limited access to talent
- Fewer financial institutions
- Inherent strategic rigidities
What is the role of context in social entrepreneurship?
Social needs and mission can be intensified by adverse contexts, and SEs seek to change these contexts
Fill in the blank: The centrality of the _______ is crucial for social entrepreneurship.
Social Value Proposition
What is the mission of Khan Academy?
To provide a free, world-class education to anyone, anywhere
According to the PCDO model, what does ‘Deal’ refer to?
Exchange of value, including who gives, who gets, and what is exchanged
What is a key element of social entrepreneurship’s strategy?
Focus on creating social or environmental value over competitive advantage
What does the term ‘performance measurement’ in social entrepreneurship involve?
Trade-off economic value capture to achieve impact
What is the significance of flexible organizational boundaries in social entrepreneurship?
Allows access to resources and collaborations with other entities toward achieving the SVP
What is Greyston Bakery’s approach to social entrepreneurship?
Strong focus on social impact and community, emphasizing ‘We don’t hire people to bake brownies. We bake brownies to hire people.’
