Harvard Case - SOCIAL ENTREPRENEURSHIP ON FOGO ISLAND: SEARCHING FOR NEW WAYS IN AN OLD CONTINUITY (A)
"SOCIAL ENTREPRENEURSHIP ON FOGO ISLAND: SEARCHING FOR NEW WAYS IN AN OLD CONTINUITY (A)" Harvard business case study is written by Natalie Slawinski, Daina Mazutis, Brad Hookey. It deals with the challenges in the field of General Management. The case study is 10 page(s) long and it was first published on : Jun 12, 2013
At Fern Fort University, we recommend that the Fogo Island Inn pursue a strategic growth plan that focuses on expanding its reach and impact while maintaining its core values of sustainability, community engagement, and cultural preservation. This plan should encompass a multi-pronged approach, leveraging the Inn's unique position as a social enterprise to drive economic development, cultural revitalization, and environmental stewardship on Fogo Island.
2. Background
The Fogo Island Inn is a luxury hotel located on Fogo Island, a remote island off the coast of Newfoundland, Canada. The Inn was founded by Zita Cobb, a successful entrepreneur who returned to her ancestral home with a vision to revitalize the island's economy and culture. The Inn is a social enterprise, meaning that it is designed to generate profits that are reinvested back into the community. Since its opening in 2013, the Inn has become a global success story, attracting tourists from around the world and generating significant economic benefits for Fogo Island.
The case study focuses on the challenges and opportunities facing the Inn as it seeks to expand its operations and impact. The Inn's leadership is grappling with questions about how to balance the need for growth with the desire to maintain its unique character and commitment to social responsibility.
3. Analysis of the Case Study
The case study can be analyzed through the lens of several frameworks:
Strategic Framework:
- SWOT Analysis: The Inn possesses several strengths, including its unique location, luxurious accommodations, commitment to sustainability, and strong brand reputation. However, it also faces weaknesses such as limited accessibility, high operating costs, and potential dependence on tourism. Opportunities include expanding its reach to new markets, developing new revenue streams, and partnering with other social enterprises. Threats include economic downturns, competition from other luxury destinations, and potential environmental challenges.
- Porter's Five Forces: The Inn operates in a relatively niche market with limited competition. However, the industry is characterized by high barriers to entry due to the significant capital investment required. The bargaining power of suppliers is moderate, while the bargaining power of buyers is relatively high due to the availability of alternative luxury destinations. The threat of substitutes is also moderate, as there are other forms of tourism available.
- Competitive Advantage: The Inn's competitive advantage lies in its unique combination of luxury, sustainability, community engagement, and cultural immersion. This distinctive value proposition sets it apart from other luxury hotels and attracts a specific type of traveler seeking authentic experiences.
Financial Framework:
- Financial Performance: The Inn has been profitable since its opening and has generated significant revenue. However, its high operating costs require careful management to ensure long-term sustainability.
- Investment Strategy: The Inn needs to invest in its infrastructure and operations to support future growth. This could include expanding its facilities, investing in technology, and developing new marketing strategies.
Social Impact Framework:
- Community Engagement: The Inn's commitment to community engagement is a key aspect of its social mission. This includes providing employment opportunities for local residents, supporting local businesses, and investing in community development projects.
- Sustainability: The Inn is committed to sustainable practices, including using renewable energy, reducing waste, and preserving the island's natural environment.
4. Recommendations
The Fogo Island Inn should pursue a strategic growth plan that encompasses the following:
1. Expand Market Reach:
- Target new markets: The Inn should explore new markets beyond its current focus on North America and Europe. This could include targeting emerging markets such as China and India, as well as niche markets such as eco-tourism and cultural tourism.
- Develop new marketing strategies: The Inn should develop new marketing strategies to reach these new markets, leveraging digital marketing channels, partnerships with travel agencies, and targeted advertising.
- Enhance online presence: The Inn should enhance its online presence through a user-friendly website, engaging social media content, and online booking platforms.
2. Diversify Revenue Streams:
- Develop new products and services: The Inn could develop new products and services, such as culinary experiences, cultural workshops, and outdoor adventure activities.
- Partner with local businesses: The Inn should partner with local businesses to offer package deals and create a more comprehensive tourism experience for visitors.
- Explore alternative revenue streams: The Inn could explore alternative revenue streams, such as renting out its facilities for corporate events or hosting cultural festivals.
3. Enhance Operations:
- Invest in technology: The Inn should invest in technology to improve its efficiency and customer service, such as online check-in, mobile concierge services, and data analytics.
- Optimize operations: The Inn should optimize its operations to reduce costs and improve efficiency, such as streamlining its supply chain and implementing lean management principles.
- Develop a strong management team: The Inn should develop a strong management team with expertise in hospitality, finance, marketing, and social enterprise.
4. Strengthen Community Engagement:
- Invest in community development: The Inn should continue to invest in community development projects, such as education, healthcare, and infrastructure.
- Create employment opportunities: The Inn should create more employment opportunities for local residents, including training programs and apprenticeships.
- Foster cultural preservation: The Inn should continue to foster cultural preservation through partnerships with local artists, musicians, and craftspeople.
5. Enhance Sustainability:
- Implement sustainable practices: The Inn should continue to implement sustainable practices, such as using renewable energy, reducing waste, and conserving water.
- Promote environmental awareness: The Inn should promote environmental awareness among its guests and staff through educational programs and initiatives.
- Partner with environmental organizations: The Inn should partner with environmental organizations to support conservation efforts on Fogo Island.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with the Inn's core competencies in hospitality, sustainability, and community engagement, and are consistent with its mission to revitalize Fogo Island.
- External customers and internal clients: The recommendations address the needs of both external customers, who seek unique and authentic experiences, and internal clients, who seek employment opportunities and community development.
- Competitors: The recommendations aim to differentiate the Inn from its competitors by leveraging its unique value proposition and expanding its reach to new markets.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to generate positive financial returns, increase market share, and enhance the Inn's social impact.
6. Conclusion
The Fogo Island Inn has the potential to become a global leader in social entrepreneurship and sustainable tourism. By pursuing a strategic growth plan that balances growth with social responsibility, the Inn can continue to revitalize Fogo Island and inspire others to create a more sustainable and equitable world.
7. Discussion
Alternatives not selected:
- Rapid expansion without careful planning: This could lead to overextension, financial strain, and a dilution of the Inn's unique character.
- Maintaining the status quo: This would limit the Inn's potential for growth and impact, and could make it vulnerable to external pressures.
Risks and key assumptions:
- Economic downturn: A global economic downturn could negatively impact tourism demand and the Inn's financial performance.
- Competition: The Inn may face increased competition from other luxury destinations and social enterprises.
- Environmental challenges: Climate change and other environmental challenges could impact the island's tourism industry and the Inn's sustainability efforts.
Options Grid:
| Option | Advantages | Disadvantages | Risks |
|---|---|---|---|
| Rapid expansion | Increased revenue, market share, and impact | Overextension, financial strain, dilution of character | Economic downturn, competition |
| Maintaining the status quo | Stability, preservation of character | Limited growth, vulnerability to external pressures | Competition, economic downturn |
| Strategic growth plan | Balanced growth, social responsibility, sustainability | Requires careful planning and execution | Economic downturn, competition, environmental challenges |
8. Next Steps
- Develop a detailed strategic plan: This plan should outline the Inn's specific goals, strategies, and timelines for implementation.
- Conduct market research: The Inn should conduct market research to identify new target markets and understand their needs.
- Develop new products and services: The Inn should develop new products and services that align with its strategic goals.
- Invest in technology and operations: The Inn should invest in technology and optimize its operations to support growth.
- Strengthen community partnerships: The Inn should strengthen its partnerships with local businesses and organizations to enhance its social impact.
- Monitor progress and make adjustments: The Inn should regularly monitor its progress and make adjustments to its strategic plan as needed.
By taking these steps, the Fogo Island Inn can ensure its continued success while making a positive impact on the community and the environment.
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Case Description
The Shorefast Foundation is a charitable organization that aims to spark a rural renaissance and promote economic and cultural resilience in the isolated communities of Fogo Island and Change Islands, Newfoundland, Canada, using a social entrepreneurship model. The cases also highlight the importance of rural places as repositories of local knowledge, culture and traditions. The two Shorefast cases illustrate the initial formation of the Foundation and the implementation issues surrounding the building of a multimillion dollar five star Inn. They are best used together as a series, but can be used independently as well. Case A provides information about the socioeconomic background of Fogo Island as well as an in depth profile of the founder of the Shorefast Foundation, Zita Cobb. The case illustrates how the founder of an organization can shape an organization's goals, vision, and beliefs. It also describes the model of social entrepreneurship that was being proposed and the organizational structure of the Shorefast Foundation and its affiliates as it stood before the construction of the revenue-generating Inn. Learning objectives: The case can be used to 1) introduce the concept of business models in general and explore the differences between 'traditional' and 'social entrepreneurship' business models; 2) help students understand the link between a founder's values, beliefs and objectives (managerial preferences) and strategy formulation and implementation; 3) introduce students to the organizational challenges involved in social entrepreneurship and the tensions to be negotiated between environmental, economic and social goals.
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