Que5.15. Project Management & Entrepreneurship This is because social entrepreneurship is still fairly new, there aren’t numerous support structures that fall into the social entrepreneurship sphere 7. Marketing Marketing a social business surely comes with its challenges. numerous social entrepreneurs don’t put enough emphasis on effective marketing and may not have the coffers, time or finances to put into marketing, which could act as a massive threat and challenge. How to manage pitfalls in a social enterprise? L Project Management and. from V Answer Steps to manage pitfalls in social enterprise LRisk Identification The critical first stage is that the social enterprise, through environmental scanning, identifies the threat events that could potentially help the consummation of its objects. These pitfalls can arise Vo il WiFi WiFi Government legislation, programs and regulations, shy backing, Technological challenges, Security and safety, Withdrawal of subventions and donations, VL vi Legal restrictions, morals and culture, a Climatic hazards, and( 70) 5- 13R( HSMC- Sem- 7 & 8) directorial incapacity. These and numerous other threat factors are linked for impact assessment. 2 threat Impact Assessment The social enterprise assesses the frequentness and consequences of each linked threat. Assessment criteria are used to measure the impact of these pitfalls on the enterprise objects. It can consider how the threat events affect cost, schedule, quality, program compass or performance. 3. Developing the Approach and Plan L The threat operation approach determines the processes, ways, tools, and platoon places and liabilities for a specific design. The threat operation plan describes how threat operation will be structured and performed on the design. Social Entrepreneurship opting the Risk Management Tools Risk operation tools support the perpetration and prosecution of program threat operation in systems engineering programs. In opting the applicable tools, the design platoon considers factors similar as program complexity and available coffers threat Prioritization Analysis 2 The linked threat events, their impact assessment, probability of circumstance and consequences are collated to decide a most- to least critical rank order of pitfalls The main purpose of prioritizing these pitfalls is to form a base for allocation of scarce coffers and urgency of attention. threat Mitigation Planning, perpetration, and Progress Monitoring At this stage, the social enterprise develops and implements conduct designed to enhance openings, exclude or alleviate pitfalls to an respectable position After enforcing a plan, the result is frequently covered with the view of revising any course- of- action if demanded. The threat mitigation strategy or option( ie, accept, avoid, transfer, enhance or reduce will be grounded on the assessed combination of the probability of circumstance and inflexibility of the consequence for an linked threat. The iterative process continues. Answer Que5.16. What’s legal frame? Why is it necessary for business? PART- 6 Legal Framework for Social Venture. Questions- Answers Long Answer Type and Medium Answer Type Questions Legal Framework The rules, rights and scores of companies, governments, and citizens are set forth in a system of legal documents called a legal frame. Documents in the legal frame include a country’s constitution, legislation, policy, regulations and contracts. Laws and policy are supposed to have further authority than a contract. still, contracta can also be written to explicitly stamp the lawa and regulations. Legal documents that cover broad principles, like constitutions, are generally more delicate to change. More specific documents, like laws and contracts, can frequently be more fluently amended. 3. 5 2 4. 5. Countries with detailed laws and programs frequently have more stable and predictable legal fabrics than those that leave further aspects open for concession in individual contracts. Legal Framework musts in Business Maintain Order A more set of rules and regulations helps a business. enterprise in maintaining order within the association. Resolve controversies A Legal frame helps in resolving controversies. within the members of same association and also between two co performing association. Establish Generally Accepted norms Establishing generally accepted norms for the business sector allows the groups to act more efficiently and without any collision of different ideas. cover Rights and Liberties When it Comes to Business cover the general rights of the hand and the other people working with the association. Que5.17. What are the legal structures used in social entrepreneurship sector? cover Relation to other Businesses, Government Authorities, and the guests Having better rules and laws cover the relation of a business association with the other co- working bodies. Answer The legal structures used in the social entrepreneurship sector are Non- gains or Charitable Associations 11. 1. i Non- gains can register as a Trust or as a Society. The non- profit model is best suited for launch- ups that don’t anticipate earnings from their conditioning or have a long gravidity period before they start to accrue earnings. illustration Digital Green, Educate for India, Akshaya Patraetc. 2 The for- profit social Enterprise u. L In India there are numerous choices when it comes to setting up a for- profit social enterprise. Astronomically, there are five different types of for- gains sole procurement, cooperation, limited liability cooperation, private establishment and co- operative. This type of legal structure is maybe stylish suited for social enterprises that are looking for growth and profitability.