Entrepreneurship Theory Process And Practice 5th Edition Donald F. Kuratko, Richard M. Hodgetts - Solutions

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Recognise that social entrepreneurship has shown some important limitations.
Appreciate what social entrepreneurship achieved in the past 30 years.
6 How would you evaluate your success in achieving your goals?
5 If you were the CEO of the SEC, what would you do to ensure the survival of your organisation while also fulflling your mission of creating an ecosystem supportive of social enterprises in the United Kingdom? What would you privilege and why?
4 Do you think the SEC should include other stakeholders in its membership?If so, who and how?
3 How could the SEC address the concerns of its members?
2 What activities could the SEC put in place to maintain and strengthen its relationships with the government, parliament, and other public authorities?
1 Is there a way of meeting both goals at the same time or are they incompatible in the presence of limited resources?
3 What is missing and what could be improved
2 Whether or not it is supportive of social entrepreneurship and, if it is, what form(s)of social entrepreneurship it supports the most
1 Its stage of development (mature, developing, emerging)
Based on what you know about your country, what level of development of social entrepreneurship ecosystems would you expect there? Does reality match your expectations or not?
If contexts characterised by institutional voids make it harder for social entrepreneurship ecosystems to develop, will social entrepreneurship ever be able to properly support economic development?
What issues are social entrepreneurs and social entrepreneurial organisations likely to encounter because of the social entrepreneurship ecosystem in which they operate?
What environmental forces shape the existence and development of social entrepreneurship ecosystems?
Who are the key stakeholders present in social entrepreneurship ecosystems and what roles does each of them perform?
Why do social entrepreneurs and social entrepreneurial organisations need to be aware of the ecosystem surrounding them?
Why is it important to learn about social entrepreneurship ecosystems?
What constitutes a social entrepreneurship ecosystem?
Environmental forces – context-level and ecosystem-specifc forces (see Section 4.3).
Promoters – public authorities, individual and organisational champions, universities;
Collaborators – normally businesses and non-proft organisations but also public authorities at various levels;
Competitors – businesses and various non-proft organisations;
Resource providers – funders, suppliers, partners, intermediaries, consultants, providers of physical infrastructure such as shared offce space, etc.;
Customers and benefciaries – individuals and organisations that derive value from social entrepreneurship;
Social entrepreneurs and social entrepreneurial organisations;
Learn what characteristics distinguish emerging, developing, and mature ecosystems.
Know the key context-level and ecosystem-specifc forces that shape stakeholders’roles, interactions, and forms of social entrepreneurship.
Become aware of the different stakeholders that constitute a social entrepreneurship ecosystem and of their different, necessary roles.
Understand the importance of the ecosystem for the development and success of social entrepreneurship.
If your only way to get the necessary income to grow your venture was to accept the investment of an impact investor that asks a place in your board and a proft margin that you can only achieve by changing how your social enterprise operates, what would you choose and why? And what if the pressure
If you are the founder of a social enterprise, should you have the right to have a pay comparable to that of a traditional entrepreneur/CEO of a comparable business and/or to keep for yourself part of the profts? Why or why not? Would your answer change if, instead of the founder of a social
Do you think that there are sectors more suitable for social entrepreneurship or that social entrepreneurship should and will thrive in any kind of sector? Why?
What determines the sectors of operation of social entrepreneurship?
What are the benefts and risks of different legal forms and their consequences in terms of other key organisational characteristics of social enterprises?
Why is it important for a social enterprise to think strategically and holistically about the integration between its key organisational characteristics?
What are the main characteristics of a social enterprise? Why does each of them matter?
Beyond motivation, personality, and skills, what do you think contributes to the success or failure of a social entrepreneur?
What are the top fve characteristics that a social entrepreneur needs to succeed? Why?
3 They want to make a political statement and demonstrate that social and environmental issues can be tackled through different/novel/more powerful approaches than existing ones.
2 They have a background (e.g. role models from family, voluntary activities, teachers, peer groups) that helped them to develop a strong sense of justice, and the desire to fght for what they believe to be “the right thing”.
1 They have witnessed or experienced a social issue frst-hand.
Appreciate the variety of sectors in which social entrepreneurship operates and how this relates to the broader socio-economic contexts in which it exists.
Refect on which combinations of organisational characteristics of social enterprises might work best in different contexts.
Learn about the key organisational characteristics of a social enterprise.
Become familiar with the motivation, personality, and skills attributed to social entrepreneurs, and with the challenges they face.
3 Would you affrm or disconfrm that Frontier Markets differs from multinational corporations which adopted similar marketing and sales approaches and created new tailored packaging and products to reach customers in remote villages in Africa and Asia?
2 How could you possibly establish if the main objective of Frontier Markets is social impact or proftability, apart from talking to the founding team?
1 Would you consider Frontier Markets as a social entrepreneurial organisation? Why or why not?a If you answered yes to question 1, would you consider Frontier Markets as a social enterprise or not?b If you answered no to question 1, how would you defne Frontier Markets based on the organisational
What might be the social impact of this innovation and how would you measure it?
What are the challenges of implementing such a service?
How can this service be translated into a social entrepreneurial organisation?
Does this social/digital innovation have the potential to generate social change?
Does social entrepreneurship really perform the four roles described in this chapter? Or are they just potential roles? Can you fnd examples to support your view either way?
How can you distinguish, if at all, social enterprises from FTOs, B Corps, and sustainable businesses?
What are the advantages and disadvantages of social entrepreneurship and related organisational forms compared to traditional entrepreneurship, charities, and social movements when it comes to generating social impact and attracting the necessary resources to do so?
What do you think are the most powerful ways to generate social change?
What are digital and frugal innovation and why are they important for social entrepreneurship?
Why do you think it is important to distinguish between social entrepreneurship and related concepts?
What is the difference between social change and social impact? And between social innovation and social entrepreneurship?
How would you defne social change, social innovation, and social impact?
They could be affordable even for the poorest households.
They would not be dependent on the unreliable supply of electricity in the area since they would function without it.
They could help them to preserve fresh dairy products and fruit that could only be bought on certain days.
Become aware of how social entrepreneurship has been contributing to tackling global challenges.
Identify key elements that help to differentiate social entrepreneurship from entrepreneurship, charitable endeavours, social movements, and other forms of social and sustainable business.
Understand the meaning of social change, social innovation, and social impact and how they intersect with social entrepreneurship.
What are the benefts and risks of having multiple defnitions of social entrepreneurship?
Putting together all that you have learnt so far, what is your view of social entrepreneurship? Do you agree with the one proposed by this book or would you include different characteristics?
What are the similarities and differences between the different schools of thought?
Can you think of a historic example (i.e. pre-1990s) that you would consider as an example of social entrepreneurship?
Does their only social impact come from their end result or are their practices and activities also conducted in a sustainable and socially minded way?
Are they involving stakeholders, especially benefciaries, in decision-making and try to treat everyone fairly across their value chain in order to maximise the social impact of their initiative?
If they are non-profts and do not present revenue-generating activities or an entrepreneurial orientation, are they so innovative that they have the potential to change the status quo and solve the root cause of a social or environmental issue?
If they manage to become proftable, do they reinvest a signifcant part of their profts to generate further social and/or environmental impact, reaching more members of their target community or increasing their impact in the same community?
Do they try to tackle a social and/or environmental issue leveraging business tools and mindset, or an innovative approach?
Understand how social entrepreneurship and related concepts are defned in this book.
Refect on the factors driving the emergence of social entrepreneurship as a concept.
Distinguish the main schools of thought on what social entrepreneurship is about.
Learn how social entrepreneurship developed as a concept and as an activity in different parts of the world.
Get a broad understanding of the concept of social entrepreneurship.
If the Isaacsons conclude that the business is worth $660 000, what will be the final selling price, assuming a sale is made? Defend your answer.
How do the replacement value and liquidation value methods work? Why would the Isaacsons want to examine these methods?
If the owner reduces the earnings estimates from seven to five years, what effect will this have on the final valuation? If he increases the discount factor from 15 per cent to 20–22 per cent, what effect will this have on the final valuation?
What would you recommend Rebecca and Josh do to convince Vince that they are right? Offer at least three operative recommendations.
Cite and discuss two reasons Vince should begin thinking about succession planning.
Why is Vince reluctant to turn over the reins to Josh? Include a discussion of Figure 14.2 in your answer.
An entrepreneur can make a number of choices regarding a successor. What choices do you identify with that fit well for your business?
As you see it, what pressures do entrepreneurs sometimes face from outside the family?
As you see it, what pressures do entrepreneurs sometimes face from within the family?
What barriers exist to succession in a business for an entrepreneur?
What eight steps should be followed to harvest a business? Discuss each of these steps.
Why do entrepreneurs look forward to the day when they can take their company public?
What are five qualities or characteristics successors should possess?
In what way can forcing events cause the replacement of an owner/manager? Cite three examples.
What are three of the contextual aspects that must be considered in an effective succession plan?
Explain why the following are important factors to consider when valuing a business: start-up costs, accuracy of projections and degree of control.
What are the steps involved in using the discounted earnings method? Give an example.
Explain how the P/E method of valuation works. Give an example.
One of the most popular methods of business valuation is the adjusted tangible book value. Describe how this method works.

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