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1. Professor Porter talks about the abundance of problems that exist in the world. What problems do you see within your specific community? What kind of business could you create to help solve these problems? Why and how would this business help? Explain.

2. What do you think Professor Porter means when he says, "I think many have seen business as the problem, or at least one of the problems, in many of the social challenges we face"? Do you agree with this statement? Explain your thoughts.

3. What are the similarities and differences between the way Professor Porter discusses profits in business and the way profits are discussed in the unit? Explain.

4. Describe one example of a company or business that is addressing one or more of the fundamental societal issues mentioned in the video. Explain how this business is helping address this problem.

5. According to Professor Porter, what is shared value? Explain. Why might this term be important to understand for an entrepreneur or someone starting a business?

6. Consider a business in your community. How might this business help address or solve a social problem? Explain.

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Final answer:

The answer addresses the perspectives of Professor Porter on business and social value, the discussion of profits, and provides an example of a company addressing societal issues.


Explanation:

Professor Porter's Model and Social Value: Professor Porter suggests that business can be perceived as a problem in societal challenges. Social entrepreneurs aim to create social value, similar to traditional nonprofits or charities, but the blurring of distinctions between charity and business can lead consumers to believe consumption equals caring.

Profits in Business: Professor Porter discusses profits in terms of shared value, aligning business success with societal progress. This differs from a traditional profit-focused approach and emphasizes the importance of businesses addressing societal issues.

Addressing Societal Issues: An example of a business addressing fundamental societal issues is TOMS Shoes with its one-for-one model. By providing a pair of shoes for each purchase, TOMS addresses the problem of inadequate footwear in underserved communities, showcasing how a business can have a positive social impact.


Learn more about Professor Porter's perspective on business and social value here:

https://brainly.com/question/36689674


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