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business
entrepreneurship theory process practice

Questions and Answers of Entrepreneurship Theory Process Practice

3. With a track record of successful entrepreneurship you have taken over responsibility for an organization that has a poor record of innovation. Explain the issues you would expect to have to
2. Choose an organization that you consider to be very innovative.How has it achieved success so far and how can this be maintained in the future?
1. Explain the concepts of technical discontinuities and industry breakpoints. Using examples from one sector explain how the opportunities that result from them can be exploited by an
■ understand the critical success factors in innovation and the reasons for failure.
■ compare the alternative innovation stances;
■ understand innovation and the market breakpoints that often provide the spur to new developments;
■ understand the categories and dimensions of innovation and the features of the innovation process;
■ evaluate the stakeholder benefits that result from the opportunities identified and exploited;
■ identify the nature of innovation and appreciate its role in entrepreneurial activity;
5. If you were employed by the Regional Development Agency to encourage entrepreneurship in your region, how would you choose which start-up businesses to offer support to?
4. Imagine you are leaving your full-time managerial position to set up a business of your own. How might your successes and failures as a manager help you in becoming a successful entrepreneur?
3. Your organization is to offer a prize for ‘Entrepreneur of the Year’. What criteria would you use to select the winner, and why?
2. What are the key personality traits and characteristics of entrepreneurs? Explain which of these you feel can be acquired through learning, giving examples.
1. Are entrepreneurs born or can they be made? Justify your view by making reference to examples of success and/or failure of entrepreneurs.
■ evaluate the value of building entrepreneurial capacity in organizations and in the economy
■ understand how entrepreneurial capacity can be developed;
■ analyse how entrepreneurial behaviour is distinguishable from managerial behaviour;
■ recognize how personal circumstances can affect an individual’s motivation to become an entrepreneur;
■ evaluate the concepts and theories of what entrepreneurs are like and what they do;
5. Argue the case for and against public sector support being given to people wanting to start up their own business.
4. Is a region’s low level of enterprise due to a lack of entrepreneurs or an inappropriate or inadequate support infrastructure?
3. What factors influence the decision to become self-employed?
2. Do you think that entrepreneurs are calculated risk-takers?Give examples to illustrate your views.
1. How would you define entrepreneurship? Does it matter that we have a definition? Why/Why not?
■ assess whether initiatives to support the development of an‘enterprise culture’ have the impact they intend.
■ recognize the different contexts in which enterprise skills and behaviours arise;
■ understand the relationship between individual and organizational enterprise;
■ compare narrow and broad definitions, and evaluate their usefulness and purpose;
■ appreciate the different conceptual perspectives on entrepreneurship and innovation;
5 What could be additional ways to expand Mayamiko’s impact?
4 How would you keep in check Mayamiko’s scaling initiatives, to ensure that its growth is not coming to the detriment of its social impact?
3 Based on what you read, are there sources of impact currently not under the radar of Paola? Or is there impact she should not be considering?
2 What would be the benefts for Mayamiko to measure impact?
1 How can Mayamiko measure its impact?
4 And what options would you consider to scale up its impact?
3 What options would you consider to scaling up the operations of Mayamiko?
2 Do you think Mayamiko should scale up or just enjoy its momentum?What are the benefts and risks either way?
1 How could Mayamiko reduce its operational complexity without hampering its current success?
4 How would you market Mayamiko, given it has three different options to present its identity?
3 If a social enterprise doesn’t proactively manage its supply chain, does it become less of a social enterprise? And if it does, what are the benefts and diffculties?
2 Based on Mayamiko’s story so far, how can a social enterprise risk to inadvertently deviate from its social mission and/or to become either too business-like or to charitable in its approach?
1 Can you build a hypothetical Theory of Change and Social Business Model of Mayamiko?
4 What are the benefts and limitations of being a member of organisations such as the WFTO or the Textile Exchange?5 What functions do the social entrepreneurship and fashion ecosystems perform in
3 Why is this form of incorporation better in terms of fnancial sustainability compared to the original one?
2 Would you change anything in Mayamiko’s structure, or do you think it works well this way? If you were to change anything, what would that be a why would you want to do it?
1 What are the advantages and disadvantages of incorporating Mayamiko as three different entities?
5 Among the different options that exist to set up a social enterprise in your own country or in the country where Paola was based (the United Kingdom), which one would you choose for an organisation
4 How should Paola set up Mayamiko to maximise its chances of success and the fulflment of its social mission (training and empowering Malawi women)?
3 Who are the key stakeholders, customers, and benefciaries of Mayamiko?What do they want and need?
2 What type of knowledge would you want to gather to help Paola decide how to set up Mayamiko?
1 What makes Paola a social entrepreneur? What do you think might be her strengths and weaknesses in developing her idea, based on the information provided?
6 What would be the best way of reporting your impact? With whom would you share the report(s) and how?
5 How would you verify that your data and fndings are correct or at least good and helpful estimates of the impact the organisation is generating?
4 How would you collect the necessary data?
3 What existing approach or set of metrics would you use and why?
2 What activities, outputs, and outcomes would you measure?
1 What stakeholders would you involve and how?
5 Would you have used a different approach?
4 Is this approach respecting the characteristics of an ideal impact measurement approach? Why or why not?
3 Is there missing information that makes you doubt what is reported?
2 Is there unclear or unnecessary information?
1 Was it easy for you to understand the impact of the organisation? Why or why not?
Why is impact reporting important and how should it be done?
What information should a good impact measurement system provide?
What might be the challenges related to different types of data (quantitative versus qualitative) both in terms of measurement and of value for external stakeholders?
What are the key characteristics of a good impact measurement system?
If you were the leader of a social entrepreneurial organisation, how would you approach impact measurement and identify the best metrics?
Is there any impact measurement system that you believe has the potential to become the industry standard in the near future?
Can you think of additional ways to measure the impact of a social entrepreneurial organisation?
What are the pros and cons of the different impact measurement systems mentioned in this chapter?
What are the main approaches used for measuring impact in social entrepreneurship ecosystems?
What are the benefts and main challenges of measuring impact?
What is impact measurement and what types of impact does it include?
Appreciate the complexities of impact reporting
Refect on how to select the right metrics and to set up an impact measurement system
Familiarise yourself with the most popular approaches for impact measurement
Become aware of the challenges of impact measurement
Understand the meaning and importance of impact measurement
4 Is there something important you had not thought about?
3 Would you alter your plan after having heard or seen what others would do?
2 Why do you think that is the case?
1 What are the most common proposals for scaling impact?
5 How the overall initial fundraising campaign would look like ?
4 What to focus on when approaching different funders
3 Potential amounts that you would encourage asking to each funder (use the social business model/marketing insights, etc. to develop some estimates of what costs the organisation might incur)
2 What funders are the more likely providers of the funding options you suggest(check out what funders/funding options are available in the context where the organisation would operate)
1 What funding options you suggest in its frst year and from the second or third year, and why
What are the different ways to scale impact and what are the benefts and limitations of each of them?
What is the difference between scaling up and scaling impact?
What are the main challenges and risks related to organisational growth?
What does “risk management” mean?
What are common practices that social entrepreneurial organisations can undertake to manage their networks?
Why is it important to manage networks and risks?
What are the characteristics of a good funding mix?
What are the benefts and limitations of each of them?
What are the main funding options for social entrepreneurial organisations?
What constitutes best practice in fundraising?
What are the main internal and external factors affecting the funding mix a social entrepreneurial organisation can access?
Why is it diffcult to fund a social entrepreneurial organisation?
Be aware of the many options available to scale social/environmental impact

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