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Questions and Answers of Entrepreneurship

Is social marketing different from marketing for social ventures (yes or no)? Explain.
Explain the difference between marketing for social ventures and causerelated marketing.
Should social ventures segment their markets?
Do you think social ventures should market their products or services (yes or no)? Explain.
You have been asked to develop a public relations campaign for a recently launched social venture that helps street children in São Paulo, Brazil.Describe how you would develop and implement such a
Suppose you and two of your friends have recently started a social venture aimed at reducing the incidence of malaria in an African country. Select the country that the social venture will target.
You have been asked to develop a social marketing plan for a purely philanthropic social venture. Describe the key components of your social marketing plan. Also describe how you would implement the
Suppose that you have been asked to design a social media strategy for a social venture. How would you proceed and what social media would you choose? Explain.
Watch the video at www.youtube.com/watch?v=33si-6BkkMk/ and answer the following questions. What do you think about texting while driving? Texting while driving is prohibited in some parts of the
If you were asked to develop a marketing plan for Ascovime, how would you proceed? How would you implement such a plan? How would you measure its success?
Based on your understanding of the work of Ascovime, would you volunteer to provide any service you could to the organization (yes or no)?Explain.
Watch the video about Ascovime and Dr. Bwelle at www.youtube.com/watch?v=SEQ1B34mOLc and describe your reactions to the story and the organization’s work.
How are social media helping Ascovime and Dr. Bwelle gain visibility?
Explain why a social venture plan should contain a section on risk assessment.
Why should the executive summary, which is one of the first things to appear in a business plan, be written last?
What are the advantages of preparing a social venture plan for a new social venture? Explain.
Is there a difference between writing a business plan and writing a social venture plan? Explain.
Some entrepreneurship authors argue that writing a business plan is a futile exercise. Do you agree with this assumption (yes or no)? Explain.
What are some of the criticisms geared toward writing business plans? Do you think these criticisms are justified?
What is the purpose of writing a social venture plan?
Explain the importance of an executive summary in a social venture plan.
Identify the components of a business plan.
Identify and discuss the differences between a business plan and a feasibility analysis.
Your team of three social entrepreneurs is scheduled to present its social venture plan to a group of potential donors. You are the team leader.Describe the preparation for this presentation and the
You and two of your friends have decided to start a new social venture. To this end, you have the task of writing the social venture plan. Describe how you will go about this. Indicate the critical
Suppose you have been asked by your local chamber of commerce to conduct a twohour workshop on how to write an effective social venture plan. The workshop will be attended by people who are thinking
John recently decided to quit his job to start a social venture. As he puts it,“I am pretty much interested in helping to make the world a better place.”His social venture intends to improve
Your friend, Michael, has recently approached you about an idea for a social venture to address the problem of street kids in Lagos, the largest city of Nigeria. He has set aside the next few weeks
Visit the TechWadi website and do additional research on the organization.How does it sustain itself?
Do some research on TechWadi and identify the Arab countries where it has helped young entrepreneurs.
What do you think about the formal structure of TechWadi?
How would writing a formal business plan have helped TechWadi?
One of the limitations of buyer-intentions surveys is that buyer intentions do not always translate into actual buying behavior. How would you overcome this limitation in a proof-of-concept study?
Explain the difference between a buyer-intentions survey and a concept statement.
Must a social entrepreneur conduct a feasibility analysis to determine whether to go ahead with his/her social venture idea (yes or no)? Explain.
Describe a buyer-intentions survey and explain its importance for social ventures.
Discuss how a feasibility analysis could help anticipate the sustainability of a social venture.
Discuss the importance of using secondary data in feasibility analysis.
Discuss the importance of using primary data in feasibility analysis.
Describe the elements that would make a social venture opportunity attractive.
Identify and describe the four components of a feasibility analysis.
What is feasibility analysis? What is it designed to achieve and how is it different from a business plan?
Identify a social venture opportunity and conduct a buyer-intentions survey using the elements contained in Table 7.1. Show your survey to at least ten people. What would you say about your social
Identify a social venture opportunity and write a one-page concept statement. Show the concept statement to ten people. Based on the feedback received, determine whether your concept should be
Your former college classmate approached you with a social venture idea.He is thinking of starting a social venture to address the problems facing street children in Lagos, the largest city in
Identify a social venture opportunity and conduct a feasibility study using the social opportunity assessment tool. Use this study to answer the question of whether your social venture concept is
How would a feasibility study help determine whether there is market potential for new versions of Martha’s Table in other large cities in the United States and around the world?
Martha’s Table launched its Success Center in 2014. How would conducting a feasibility study help it scale this center?
How do you think a feasibility study would have helped the founder of Martha’s Table, Veronica Maz?
Martha’s Table did not conduct a formal feasibility study before launching in 1980. Do you think that today’s social entrepreneurs should always conduct a feasibility analysis before launching
Is the location of a firm an important aspect of its business model (yes or no)? Explain.
Discuss each of the phases of the life cycle of a business model.
Why do you think entrepreneurs need to formulate business models at the start of their new ventures?
Discuss the relationship between the design elements and the design themes in using an activity system design framework for designing a business model.
Identify some of the reasons why it is important for social entrepreneurs to develop sutainability models for their social ventures.
What are the two parameters of a business model design? Discuss their key elements.
Identify the reasons why social ventures need different sustainability models compared to purely commercial ventures.
Explain the difference between business model and business concept.
Identify potential differences between a business model and a social venture sustainability model as defined in the chapter.
Explain the key components of a business model.
Do some research on Muhammad Yunus and the Grameen Bank. Identify the social business model of the bank. How does its social business model differ from the business models of traditional banks?
Do some research on Zipcar, the car-sharing company. Identify the company’s business model. Is this business model innovative? Explain why some car rental companies, such as Enterprise, Avis, and
Twitter (http://twitter.com) is a free networking and microblogging service that allows users to send and read other users’ updates (known as tweets).How does the company make money? Does it have a
Identify Dell’s business model. Discuss it on the basis of the information you learn in class and in your textbook. Would this business model work effectively in the developing countries of Africa,
Watch the video at www.youtube.com/watch?v=QoAOzMTLP5s, then identify the key elements of a business model.
Watch the YouTube video, “We Are Now a One World Play Project” at https://www.youtube.com/watch?v=ctQHOizknhc. What is your assessment of the reason for creating this social venture and its
Would you consider the recent rebranding of One World Play Project a refinement of its business model? Yes?No? Explain.
What is the revenue model of One World Play Project?
Identify and describe the social venture sustainability model of One World Play Project.
Discuss some of the techniques of idea generation, such as brainstorming and focus groups, and apply them to social venture opportunities.
How can being alert help individuals to spot social venture opportunities?
Explain how design thinking can help to address wicked problems.
Explain the differences between a business concept and a social venture(or social business) concept.
What are the main differences between the effectuation and discovery theories of entrepreneurial opportunity?
Explain the key assumptions of the creation theory of entrepreneurial opportunity.
Explain the key assumptions of the discovery theory of entrepreneurial opportunity.
Explain the difference between an opportunity and a business concept.
What is the difference between an idea and an opportunity?
What is the difference between a business opportunity and a social venture opportunity?
Social venture idea generation exercise. The purpose of this exercise is to help you understand and practice the process of generating ideas for social ventures. Use your personal experiences,
Apply the concept of design thinking to social entrepreneurship. Use Table 5.3 as a guideline for your project.
Entrepreneurship diary. From the beginning of this class, keep a diary of entrepreneurial ideas. You can ask your relatives, friends, and classmates for their venture ideas. You can also read
Travel around your town and identify opportunities for a social venture.Explain why you believe that this opportunity is a viable one.
Form groups of three to five students and brainstorm on the opportunity for a new social venture. Based on the results of the brainstorming session, transform your idea into a business concept. Is it
What (if anything) would you do (differently)?
Do you personally subscribe to Jack’s dream?
What would be your advice with regards to the $12 million? Do you think that Jack will be able to raise such a large amount of money?
How would you translate his dream into a social venture concept?
Is Jack’s dream a social venture opportunity or merely a dream?
Which institutional factors would facilitate or impede the diffusion of this technology in developing countries?
Devise pricing options that could make this product affordable to most people in rural areas of Africa, East Asia, and Latin America.
What social needs is the BRCK device addressing?
Using the PEST model, identify the factors that led to the creation of the BRCK device.
Select a social venture you are familiar with and apply Porter’s five forces model. To what extent does this model allow you to increase your understanding of the competitive landscape of this
Select a country other than your country of birth, citizenship, or current residency. Analyze that country’s external environment using the PEST model. Explain how each of the four factors of the
The Ease of Doing Business Index, compiled by the World Bank, ranks countries on ten dimensions. Visit the website(www.doingbusiness.org/rankings) and consider the latest rankings.Identify some of
Visit the website of the Global Competitiveness Index(www.weforum.org/issues/globalcompetitiveness). Perform an analysis of the top five countries in the ranking. Which characteristics make these
Visit the website of the Global Entrepreneurship Monitor(www.gemconsortium.org). Select two countries that are ranked among the top five for social entrepreneurship. Identify what characteristics
Discuss the extent to which the external environment could have similar or differential effects on social and commercial entrepreneurship.
Discuss the PEST model and its influence on understanding social venture environments.

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