Question 1 (1 point) This exercise is optional. You can earn up to an addition 2.5% on your final grade. This is question #1 from your exam. Reread your exam resources and attempt the question below. Discuss whether the Fogo Island Inn fits the transformative definition of social entrepreneurship. Fund (Refer to this for further background Shorfast fam) le addition, about fifteen employees took care of Sher's day operations at the Foundation's headquarters on Fogo Island The Great Fogo Island Punt Race One of Shoreast's first initiatives was the Great Fogo Island Race herfer Race Launched in 2007. it was aimed at preserving the local boat building titi were small boats traditionally used for fishing, transportation and more, but pe Island crept into the 21" century, roads were built and vehicles became less the iconic punt faded out of we Zita und Tony believed that building and would connect people to their ancestors. As Zita explained Life is way if you as come wa polisi part of a contar's furful and coming the They also hoped this nummer in which are adde by residents of Foolsland and Change and would do the wond The was 10 miles coupe-Champsland back to open The Foge and Arts Corporation The Foundation Islands the Found Ans Content The Adem The Am weathghhe Sbor Found Program and the Program The Shorefast Foundation Zita Cobb and her brother Tony founded the Shorfast Foundation in 2006 to develop the cultural and economic resilience of Fogo Island and Change Islands (refer to Test of the Foundation goals). Since 2006 they had embarked her of love related to these goals, including founding the Fogo Island Arts Corporation and the Great Fogo Island Punt Race. They also launched the Business Assistance Fund a micro venture that provided start-up capital to local entrepreneurs In 2009 the Canadian and provincial government cach provided here with 55 millisin funding to build artist stadios and the In The Shorfast Foundation contributed 56 million of the $16 million budget. Zita and Tomy hoped the artistas de caliber artists from around the world and help imalate creativity and while the Inn was designed to attractent tourist od boost the way By 2010 Zita hambled tem of local residents and idewal remotely hut visited Foo Island Party The organization and will President in Chand her brother Towy acting ially as tree and the role of CO Members of the hard included God Sladesh Strul fer CEO of IDS. Other key cribers of the Wing Jonathan Brige Daniel wwongally hired for his experience the wolved in business development and force Fund, Erfurther in Who is one per at the headquartet The Grear bland are Chiw the SOCIAL ENTREPRENEURSHIP ON FOGO ISLAND: SEARCHING FOR NEW WAYS IN AN OLD CONTINUITY (B) Research Acrone Brod It was a warm sunny day in June 2010 in Joe Batt's Arm on Fopo Hoody prepared this case Island, Newfoundland and Labrador Canada. Many Fogo Islanders had under the son of come out for the ceremonial rock turning of the Fogo Island Inn Professor Natalie Slowki (hereafter the In Tony and Zits Cobb, co-founders of the Faculty of Rusti Shorfast Foundation were relieved that this day had finally come. Administration Memorial The 29-room luxury Ine would be the revenue generating one of Lihty Nasyonuna the Shorfast Foundation, a charitable organization where goal was to Canada and Professor Daina help revive the contes e Fogo Island and Change Islands while Mari Mars for providing a world model for alrewal. The surpluses frues the Ins clan ision rather than would be used to fund Sho's various other initiatives on the When the effect of Islands Ineffecting Tony and Zita felt that this project had to be like no other in order to successful. The peo had a $16 million budist and secued to meet mbio chicas design pouls while staying on budget. The brother item know the Inned to become operational soon as Show's program wone burning funds and how my addition, they wondered how to haline but the quickly and staying to their They did want to compromise they had worked to hard to build ING FOR NE. 29 100N The Sharefast Foundation Zita Cobb and her brother Tony founded the shorest Foundation in 2006 to develop the cultural and economic resilience of Fogo Island and Change Islands refer to the fora ter of the Foundation's goals). Since 2006 they had embarked on a member of initiatives related to these goals, including founding the Fogo Island Arts Corporation and the Great Fogo Island Punt Race. They also launched the Business Assistance Fund, micro lending venture that provided start-up capital to local entrepreneurs In 2009 the Canadian and provincial governments each provided Shorfast with $5 million funding to build artist studies and the In The Showcast Foundation contributed 56 million of the $16 million budget. Zita und Tony hoped the artist studies would attract high-caliber artists from around the world and help wimate creativity and innovation. Meanwhile, the Inn was designed to attract affluent tourists and boost the economy By 2010 Zie had ambial trams of local rests and wide experts who want remotely hut visited Fogo Island reply. The organization was structured with Zita President and CEO and her brother Tony acting my street datering the role of COO. Members of the band included Gordon Sladeschuman and we Stuus, former CEO of JDS Other key members of the sun wete Daniel Wang and Jonathan Briggs Daniel was originally led for his expertise in IT but he then became involved in his development and stress on the sce Fander Exer had when Sind die bottom os care of Shane open at the Fund's headers and The Grut Fege land Pam Rac