KOLEJ UNIVERSITI ISLAM PERLIS

BMM 4323 SOCIAL ENTREPRENEURSHIP

MID TERM TEST

NAME LECTURE

RAZINDA TASNIM ABDUL RAHIM

NAME MATRIC NUMBER

NOR IKHMAL BIN ABD HAMID M101815013
QUESTION 1

(a) Define the meaning of social entrepreneurship.

- social entrepreneurship is approach by individuals, organizations, start-ups or startups
to create, finance and introduce solutions to social, cultural or environmental
problems. This definition can be extended to a wide variety of firms, which differ in
scale, priorities, and values.
- Social entrepreneurship is important because It offers a platform for organizations to
find their own potential in the hope of supporting others.
- For examples Halo Telco Companies through the Halo Prihatin Program take 0.5%
of internet subscription revenue from users to be distributed to the public.

(b) Elaborate the characteristics of social ventures.

i. Curious
- Social entrepreneurs need to cultivate a sense of interest about people and the
challenges they encounter.
- The best social entrepreneurs are seeking to better consider the interests and
expectations of the communities they represent.
ii. Inspiration
- Social entrepreneurs must be motivated by the individuals and challenges they
face in order to formulate innovative solutions. Inspiration motivates action
and lets social entrepreneurs solve the problems that some shy away from
tackling.
- For examples, the invention of the telephone to facilitate all affairs.

iii. Realistic
- It needs time, commitment, and experimentation to change the world. While
dreams of major social change can inspire them, seasoned social entrepreneurs
realize that they need to take incremental steps to accomplish their goals.
Good social programs are not born immediately.
 - For example, the founder of Be as You Wear is working to reform systems
that put youth at risk by taking small steps, such as performing small-group
education interventions and selling hoodies to fund her work.
iv. Resourcefulness
- Primary tools, such as human and financial capital, may also be lacking in the
field of social entrepreneurship.
- Effective social entrepreneurs know how to harness the tools at their disposal
to build new strategies to resolve barriers.

v. Adaptability
- Social entrepreneurs need to be open to ideas.
- This involves understanding when to rotate and adjust their tactics if their
original approaches are not effective.

(c) Compare the value between social entrepreneurship and commercial entrepreneurship.
i. Market failure
- Commercial entrepreneurship will not be a feasible choice if commercial
business forces do not fulfil social needs.
- Social entrepreneurship can see an advantage where commercial entrepreneurs
see only difficulties in achieving their economic objectives.
ii. Mission
- The social entrepreneurship mission is helping the people like give donation.
- The commercial entrepreneurship mission is doing something for profit only.
iii. Resource mobilization
- The social entrepreneurship carries out social activities by expecting people to
help them so that they can channel to the hemp.
- The commercial entrepreneurship carries out activities by sell the product to
get the profit.
iv. Performance measurement
- The success of social entrepreneurs in terms of social effects is a defining
feature from commercial entrepreneurship which poses complications for
social entrepreneurs in terms of transparency and stakeholder ties.
- Commercial entrepreneurs and consumers involved in assessing their success
have been able to depend on reasonably visible and quantifiable performance
metrics such as financial results, market share, consumer loyalty and
efficiency. However, there is far from any agreement on the calculation of
social change due to non-quantifiability, multiple causality, temporal aspects,
and perceived variations in the social impacts produced.
v. Impact to future
- The social entrepreneurship will the country's poverty rate decrease.
- The impact commercial entrepreneurship can further expand branches and
increase profits
QUESTION 2

a) Identify FIVE (5) entrepreneurial mindset.

i. Entrepreneur think by action
- Entrepreneurship acts are actions that can include a range of entrepreneurship
practices.
- For example, starting a business, investing in something, expanding the
business, improving the business, marketing products or services.
ii. Entrepreneur think in possibilities
- An entrepreneur puts himself in reality by thinking if the entrepreneur uses the
product what will happen
- For example, carry out product testing activities produced for yourself
iii. Entrepreneur think in ambiguity
- An entrepreneur is not sure if the product or service will be successful and he
will always look for ways to improve the quality of the product and service.
- For example, create the flying car in Malaysia.
iv. Entrepreneur think embraces risk
- To create something new an entrepreneur has to face the uncertainty of risk.
- For example, entrepreneurs trying to make high investors to get high yields
v. Entrepreneur thing value add
- Economic improvement A corporation gives its goods or services before
selling them to its consumers.
- Value added helps clarify why businesses are willing to market their products
or services more than they cost to manufacture.
 b) Support FIVE (5) entrepreneurial mindset that you have identified above with suitable
example of the social entrepreneurship.
I agree with the statement of entrepreneurial mindset due to entrepreneurs working
together to help the community. This can be seen through the thinking of consumers who
want change according to the current trend. in turn, such thinking can boost the country's
economy. This can be seen from Japan every product has been used by people around
Asia. then, this kind of thinking can make entrepreneurs the idol of the next generation.
This is because the generation will motivate themselves with the actions of the past
efforts.

QUESTION 3

a) Categorize the elements of external environment of social ventures.

i. Politics
- The political climate of every nation is a significant determinant of the growth
and creation of entrepreneurship, be it commercial or social.
ii. Economic
- An increasing economy with a lot of capital, both human and physical,
appears to support a higher degree of entrepreneurial activity than an economy
that is stable or not growing.
iii. Social
- The social and cultural climate of a region, including its demographic and
lifestyle classes, has an influence on entrepreneurial activity.
iv. Technologies
- Since social entrepreneurs can conveniently use the internet to market their
social enterprises, technology can promote the development of social
enterprises.
b) Outline THREE (3) tools to analyze the external environment by detailing out their
functions.
i. Environmental scanning
- Environmental scanning is a strategic assessment technique used to evaluate
the company's external environment.
- Environmental scanning lets an organization identify main motivating factors
in the environment.
- This strategic instruments may also be used to analyze or search the
environmental world in which the social enterprise works, with some
modification.
- For example, internet opportunities.
ii. Competitive intelligent
- Competitive intelligence is an appropriate combination technique that reserves
valuable business, industry and technological knowledge that executives can
use to make decisions.
- Competitive intelligence, also known as corporate intelligence, refers to the
capacity to obtain, interpret, and use data gathered on rivals, consumers, and
other consumer variables that contribute to the competitive advantage of a
company.
- It is the duty of strategic intelligence analysts to help their organization or
business make good choices about potential actions.
- For example, competitive intelligence tools like Visualping.
iii. Benchmarking
- Benchmarking refers to the method of contrasting one's own market
operations with market peers and comparing efficiency indicators with the
best practices of the industry or with other companies' best practices.
- Companies also refer to others in three dimensions, such as consistency, time
and expense.
 - Benchmarking is a way of comparing the efficiency of the goods, services, or
procedures of a business against those of another company that is deemed the
best in the market.
- For example, as entrepreneur you need compares business performance
against other companies.

QUESTION 4

a) List the components of business model.

i. value proposition
ii. market participation dimension
iii. value chain infrastructure dimension
iv. global management sub model

b) Construct a social business model canvas by implementing all the components.

Customer Customer
Partners Activities Value proportion
relationship segment

Resources Channel

Cost Revenue