If an entrepreneur solves a social problem while also earning profit, what kind of thinking is shown?
Answer and explanation
Correct answer: Social entrepreneurial thinking
Social entrepreneurship combines a financially viable venture with the purpose of addressing a social or environmental problem. Earning revenue can help the solution continue and reduce dependence on temporary support. Solving a social problem while creating sustainable value therefore shows social entrepreneurial thinking. Imitation, lack of planning, or opposition to customers does not describe this balanced objective.
Frequently asked questions
What is the correct answer to this question?
Social entrepreneurial thinking
Why is this the correct answer?
Social entrepreneurship combines a financially viable venture with the purpose of addressing a social or environmental problem. Earning revenue can help the solution continue and reduce dependence on temporary support. Solving a social problem while creating sustainable value therefore shows social entrepreneurial thinking. Imitation, lack of planning, or opposition to customers does not describe this balanced objective.
Which subject and chapter does this question cover?
This is a Class 12 Business Studies question. Chapter: Nature and Significance of Management. Topic: Objectives of management.
