ENTR 321 TEST #1 CH. 4 QUESTIONS AND VERIFIED
ANSWERS
Social responsibility consists of those obligations that society has to busineses. -
Answers - False
Social obligation, social responsibility, and social responsiveness are all ways firms
view their interactions with society. - Answers - True
Social entrepreneurship avoids private-sector focus on risk taking. - Answers - False
Social entrepreneurs are known to combine resources to exploit opportunities to create
social value. - Answers - True
Social entrepreneurship is rarely a vehicle for sustainable development. - Answers -
False
The Brundtland definition of sustainable development is "meeting the needs of the
present without compromising the ability of future generations to meet their needs." -
Answers - True
For-profit enterprises have yet to make significant contributions to the world of
entrepreneurship. - Answers - False
Ecopreneurship is a combination of ecologically and economically sustainable
development. - Answers - True
The triple bottom line is an accounting framework that focuses on optimizing short-term
financial performance. - Answers - False
The three Ps of the triple bottom line are people, planet, and profits. - Answers - True
Bottom-line measures of social performance include the unemployment rate and health-
adjusted life expectancy. - Answers - True
Benefit corporations are one of the oldest forms of incorporation, having been adopted
in all 50 states. - Answers - True
Purpose, accountability, and transparency are characteristics associated with socially
sustainable enterprises. - Answers - True
Social obligation, social responsibility, and social responsiveness are all ways firms
view their interactions with society. - Answers - True
ANSWERS
Social responsibility consists of those obligations that society has to busineses. -
Answers - False
Social obligation, social responsibility, and social responsiveness are all ways firms
view their interactions with society. - Answers - True
Social entrepreneurship avoids private-sector focus on risk taking. - Answers - False
Social entrepreneurs are known to combine resources to exploit opportunities to create
social value. - Answers - True
Social entrepreneurship is rarely a vehicle for sustainable development. - Answers -
False
The Brundtland definition of sustainable development is "meeting the needs of the
present without compromising the ability of future generations to meet their needs." -
Answers - True
For-profit enterprises have yet to make significant contributions to the world of
entrepreneurship. - Answers - False
Ecopreneurship is a combination of ecologically and economically sustainable
development. - Answers - True
The triple bottom line is an accounting framework that focuses on optimizing short-term
financial performance. - Answers - False
The three Ps of the triple bottom line are people, planet, and profits. - Answers - True
Bottom-line measures of social performance include the unemployment rate and health-
adjusted life expectancy. - Answers - True
Benefit corporations are one of the oldest forms of incorporation, having been adopted
in all 50 states. - Answers - True
Purpose, accountability, and transparency are characteristics associated with socially
sustainable enterprises. - Answers - True
Social obligation, social responsibility, and social responsiveness are all ways firms
view their interactions with society. - Answers - True
