Social Entrepreneurship for Local Change Glossary
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This is a glossary for students of the integrated online course, Social Entrepreneurship for Local Change. The goal here is to help students of a diversity of backgrounds and disciplines understand language of Social Entrepreneurship. Unless otherwise stated, these definitions are taken from our own materials.
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- Commercial Activity
- Activity aimed at creative value. A Social venture will derive a significant portion (more than 50%) from selling goods and services
- Commercial Value Proposition
- What makes a product or service produced attractive to customers
- Competencies
- Skill, knowledge or ability
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- Distribution
- The various channels that a company uses to reach its customers
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- Social Enterprise
- Social enterprises are businesses that trade in the market for a social purpose. It is broadly accepted that social enterprises have three common characteristics: Explicit social aims, commercial activity, and social ownership.
- Social Ownership
- Community accountability for a social enterprise
- Social Purpose
- Social purpose beyond proft making that is core to the activities rather than incidental
- Social Values
- principles that we use to determine our behaviour, and in the context of Social Entrepreneurship, inspire social entrepreneurs and enterprises