Entrepreneurship - Chapter 4 Social Entrepreneurship

the standards that help determine what is good, right, and proper.

• ethics

• franchise

• social entrepreneur

• demographic

A person who starts a business with a social issue as the primary focus.

• competitive advantage

• social entrepreneur

• nonprofit business

• entrepreneurial spirit

A business's obligation to weigh the consequences to all stakeholders before making decisions.

• competitive advantage

• demographic

• stakeholder

• social responsibility

Any person or group directly affected by a business. This can include employees, suppliers, customers, community members, and shareholders.

• stakeholder

• competitive advantage

• entrepreneurial spirit

• franchise

Corporate Social Responsibility involves:

• Making the most most money whatever it takes.

• Giving away all of the business's profits to good causes.

• Acting in ways that balance a business's profit and growth with the good of society.

• Building a business from the ground up.

Stakeholders of a business include:

• Employees, customers, suppliers, investors and creditors, and local community members.

• Nonprofit organizations, business owner's relatives, TOMS Shoes

• Bureau of Labor Statistics, UN Global Compact, other major corporations

• Ethical sourcing, recyclable packaging, using sustainable designs.

A business can lessen their impact on the environment by:

• Paying employees less, treating customers better, and using all the resources they want to.

• Starting Nonprofit organizations, hiring their relatives, buying TOMS Shoes for everyone.

• Ethical sourcing, recyclable packaging, using sustainable designs.