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Exam 3: Recognizing Social Opportunities

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Question 21

Multiple Choice

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Market potential in the Social Opportunity Assessment Tool considers which of the following criteria?

A) Community support
B) Market size
C) Barriers to entry
D) Achievable impact

E) A) and D)
F) C) and D)

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Question 22

Multiple Choice

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For an idea to be a viable social opportunity, it must have the potential to create social value for the customers, or target beneficiaries. Which of the following are considered criteria for assessing the social value potential of an idea?

A) Social need, mission alignment and achievable impact
B) Achievable impact, social return on investment and social need
C) Community support
D) All of the above

E) B) and D)
F) A) and D)

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Question 23

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Identify the five criteria of Market Potential.

What is a "window of opportunity" for social opportunities?

Existing social ventures already have a mission and will assess opportunities in light of this mission; however, new, start-up social ventures need an initial opportunity with which to work before they can understand what their mission is.

Tools for the purpose of assessing ideas to determine their potential as an opportunity fall into one of two categories: tools that evaluate the internal contexts within which the enterprise pursuing the opportunity operates; or tools that evaluate the external contexts within which the enterprise pursuing the opportunity operates.

Ideas represent unrealized potential value in their original state and they are considered the finished product of the entrepreneurship process.

Which of the following is not one of the four learning principles of the Computer Clubhouse learning model?

Unlike business opportunities, social opportunities have a "window of opportunity" or time period within which the social entrepreneur can provide maximum benefit to the customer before circumstances change, diminishing the value of the service.

The five criteria for assessing the social value potential of an idea are social need, mission alignment, achievable impact, social return on investment, and community support.

Robinson identified five types of barriers to entry or obstacles that make it difficult for both new business and social entrepreneur ventures to enter a market. Which of the following are included in Robinson's barriers?

A "sea change" is a nautical reference going back to the days when sailors did not have elaborate navigational systems at their disposal and had to rely on the diligent monitoring of changes in wind patterns and velocity, the color of the sky, wave action, etc. to keep their ship from sinking.

Identify the five criteria of Sustainability Potential.

Being "first to market" is a highly sought-after position among ventures serving a given customer segment because the early entrants to a market have the ability to overcome existing market barriers and to use those barriers as a weapon to thwart competition.

Innovation is the development of original ideas, or inventions and creativity is the implementation of those inventions.

Describe the relationship between creativity, inventions and innovation?

Personal experiences are rarely a source of entrepreneurial ideas.

Which of the following is not a key characteristic of a business opportunity?

The Social Opportunity Assessment Tool captures both the pursuit of social value and the market-driven aspects of business opportunities. It consists of four types of potential or major assessment categories. Which of the four is most important? Explain your answer.

According to Longenecker, ideas used by entrepreneurs can be classified as belonging to one of three different categories. Which of the following is not one of these categories?