Ch.4 Social Entrepreneurship

Multiple Choice

_________ is when businesses act in ways that balance profit and growth with the good of society.

• Brand loyalty

• Corporate Social Responsibility

• Profit Maximization

1. The company goal- To create comfortable shoes and comfort to impoverished children.
2. How the company will achieve this goal- Donate a pair of soft, breathable, and lightweight shoes to disadvantaged youth.
3. How this appeals to customers- Describing a quality product that makes a customer feel good for buying the product.

3 Components of Mission Statement:

"To make life more comfortable. Toward that end, TOMS not only ensures that every pair of its slip-ons are soft, breathable, and lightweight for an optimal fit— the company has also charged itself with the responsibility of providing for the comfort of children in impoverished regions worldwide. For every pair of TOMS shoes purchased online or at retail, the company will provide a pair to a child in need."

Mission:

TOMS Shoes Mission

TOMS Shoes Vision

To ensure that everyone in the world has access to comfortable footwear.

Fill in the Blank

A good ______ statement should also support a larger vision statement.

Fill in the Blank

A _____ statement is the ultimate goal of the business.

Multiple Choice

A ____ company is one that adopts business practices aimed at protecting or improving the environment.

• red

• for profit

• green

Multiple Choice

A _________ operates solely to serve the good of society.

• nonprofit organization

• small business

• corporation