Exam 3: Recognizing Social Opportunities

Gatherings of experts in a particular field or industry who discuss trends and tease out ideas that might be pursued by value-adding enterprises are sometimes called "idea baths."

Timmons and Spinelli describe the key characteristics of a business opportunity as: adding value for the customer; adding value by solving a customer problem or fulfilling a need; capturing a market and generating profits; and being compatible with the skill set of the entrepreneurs.

Which two competing schools of thought about the nature of a mission statement can be distinguished?

The Social Opportunity Assessment Tool measures the overall potential from "strong opportunity" to "weak opportunity" for four general categories. Which of the following is not one of these four categories?

Kitzi provides an opportunity assessment model for nonprofit social ventures that has which of the following characteristics?

Identify the five criteria of Competitive Advantage Potential.

Identify the five criteria of Social Value Potential.

Which of the following statements accurately describes the work of entrepreneurship researcher W. D. Bygrave?

A compelling mission statement is essential for a social venture for all of the following reasons except which one?

There are four major areas of society to monitor when looking for trends and patterns to help predict needs to be addressed. These areas have been given the acronym PEST (Bryson, 1995) which stands for which of the following?

Which five types of innovation were distinguished by the Austrian economist Joseph Schumpeter?

Which seven major areas for the assessment of an opportunity did Bygrave identify?

On which broad dimension does the Kitzi model evaluate social ideas?

Identify the four types of potential to the Social Opportunity Assessment Tool.

To be successful, social entrepreneurs must assess their initial idea's potential as a viable opportunity to address a social or environmental need, a process known in the entrepreneurship field as opportunity recognition.

According to Timmons and Spinelli there are four key characteristics of a business opportunity. What are they?

One competitive advantage potential of an opportunity is seen in the management team of the social venture. A strong team should reflect a complete skill set to effectively operate the venture. Which of the following are important attributes of the management team?

Which two types of innovation that are specific to social entrepreneurship were added to Joseph Schumpeter's five types of innovation by Dees et al.?

In these days, we observe discussions about the working of the economy, especially what should be left to the government, to business enterprises and to social enterprises. Write an essay about the optimum equilibrium between the three.

What are the five general sources of ideas that apply to both business and social entrepreneurs?