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New Zealand King Salmon
New Zealand King Salmon
Name
Institutional Affiliations
Executive Summary
New Zealand King Salmon rules in Sydney market with the best species ranks that one has never experienced. King Salmon have the ability of showing exceptionally strong results amongst the consumers which has caught attention of Aussie palates. However, the company has the dilemma of developing four new fish farms in the Marlborough sounds ever since they were faced with environmental and social factors from the community, despite the expansion being profitable. The major problem was that, the decision that were previously made by the Environmental Protection Authority to grant the four sites for salmon farming had prohibited zone of the Marlborough Sounds, hence posed some interesting questions for the Marlborough District Council and for the wider community. It is a recommendation for the New Zealand King Salmon to involve in the expansion of fish farming that will then improve the living standard of people through job opportunities.
Introduction
For many years New Zealand King Salmon has been dedicated to producing a top quality product which was achieved through good managing practices such as choosing a pristine and unpolluted rearing environment. The New Zealand King Salmon’s innovative farming, processing as well as distribution operations are integrated in single systems which allowed easier monitoring and controlling at all stages. The New Zealand King Salmon faces a dilemma in the salmon rearing in spite of it being the largest producer in the New Zealand. One of the dilemmas that face the company is the growth retardation of King salmon walbaum (Martin & Gillard, 2003). This is a major challenge facing the marine fish farming. Despite the sound understanding of the ecological rearing conditions for the king salmon in the seawater, the theory that leads to the growth retardation remains a dilemma. Collaborations have been made with leading New Zealand aquaculture companies to study the physiological state and the causal factors for the retarded growth. The retarded growth of the king salmon poses a major challenge to the company in meeting the great seafood demand in both New Zealand and the foreign markets. The delayed maturity means that the supply is less as compared to the demand leading to disequilibrium in the market. Thus, the company is carrying out a research on the conditions while trying to implement the control mechanisms for the prevailing dilemma (Sankaran, 2004).
Discussion
Relevant aspects of the business environment
In regards to various dilemmas affecting the New Zealand King Salmon the advancement of technology has formed an inherent part in the business environment of the New Zealand King Salmon company. And as a result, this has forced the company to adopt the most recent and developed techniques in the breeding, rearing, harvesting and processing of the salmon fish. In this, the companies tend to enjoy the benefit of effectiveness and efficiency while helping it to minimize the operational costs. The fish eating culture that exhibit the people of New Zealand as well favors the operations of the New Zealand King Salmon. Through this, the demand for their products is high and the company realizes a high revenue margin (Sankaran, 2004). To allow the company to continue gaining its competitive advantage from other competitors, the company should scan its environment by using the PESTLE analysis tools. The company has a rich consideration for its environments in terms of sustainability and preservation. Further, the company faces some political interference thereby hindering a smooth operation. In the recent past, the Environmental Management Authority had filed a Supreme Court challenge against the company to stop its bids for expansion. However, they were withdrawn successfully (Martin & Gillard, 2003).
The relevant aspects of the business environment of New Zealand King Salmon Company are that, the company markets four retail brands of sea food products. These include, Regal Salmon, Southern Ocean and Sea smoke. Regal salmon is available in a range of wide varieties of cuts and styles such as fresh and frozen fish (Regal Salmon, 2012). The southern ocean brand is natural, affordable and a convenient pack of smoked salmon. These are produced from South Island waters in the New Zealand. While the sea smoke is a traditionally smoked product, locally sourced and cured in a selective hardwood smoke, sea salt and some natural marinades to enhance its flavor. These are the products that keep New Zealand King Salmon Company in business. In carrying out the seafood business, the company is restricted to some environmental and legal factors that are meant to be complied with. For instance, the company is required to comply with environmental considerations for it to be allowed to expand its fishing farms (Sankaran & Research, 2007).
Stakeholder Interests
The New Zealand King Salmon is a top business performer in the Sydney market. The two major and key owners run the New Zealand King Salmon. These include Evergreen Holding Limited and Direct Capital. The Evergreen Holding Limited has a stake of 51% while the Direct Capital with a stake of 42%. The management and the directors with 7% stake hold the remaining stake. The annual turnover of the company is on average NZ$115 million with a total asset value of more than NZ$75 million (New Zealand King Salmon, 2013). This is realized from the company’s annual harvests of 8500 metric turns that account for 70% of all salmon production in New Zealand and 55% of the world production (Martin & Gillard, 2003).
The research also showed that, during the month of March, the fish sales tripled with an expected future-increased sale. In July 2013, the largest owner, evergreen holdings had 12,856,250 shares followed by Direct Capital Partners with a total of 3,192,513 shares. The main stakeholders interests in New Zealand King Salmon is to maximize profit given that the research showed that they own the business and at the same time are majorly concerned about the success as well as, the growth of the company. A good example is the Evergreen Holding Limited who tried their best in contributing to the growth and success of New Zealand King Salmon Company (Martin & Gillard, 2003). Other key stakeholders includes Pohutukawa Lambda Investments Ltd with 2,721, 682 shares (10.77%), and Direct Management Investments Ltd with 1,989,613 shares (7.87%) whose main interests is to see if New Zealand King Salmon improve what it offers as well as, coming up with entirely new solutions to the customer needs based on the demand of the customers (Larsen, 2011).
Business Decisions
Regarding the dilemma that faces the New Zealand King Salmon Ltd, the company is tasked with the responsibility of making decisions ethically to handle the issue professionally. As discussed earlier, the dilemma that faces the company is the dilemma of dilemma of developing four new fish farms in the Marlborough sounds. To handle the issue in the professionally way possible, the company has joined hands with the major aquaculture companies in the New Zealand to carry out an intensive research regarding the dilemma. Conversely, the New Zealand King Salmon Limited is involved with corporate social responsibilities. The rearing and sea farming is said to contribute to environmental issues, however, the company has resolved to maintain a sustainable environment in a bid to expand its operations.
The company also plays a role in the improvement of the welfare of the community living around them. This is facilitated through donation to fund education for the needy children within the population (Scoop, 2013).The company also establishes social facilities such as schools, medical facilities and takes part in the environmental conservation programs. Through this, the New Zealand King Salmon Limited remains a responsible social entity in the administration of social welfare of the society and as it makes it decision in an ethical manner.
Applying the Solomon’s three C’s of business ethics in business has made good sense to the New Zealand King Salmon. In regards to Kantian theory, it is believed that some actions within the company should be prohibited. For example, New Zealand King Salmon Company has involved in ethical rather than unethical issues hence ensures that class of actions in accordance with their duty is distinguished from the class of actions performed from duty. The company’s major aim is to maximize the happiness and reducing suffering of the customers (Sankaran & Research, 2007). The company is involved with the CSR ensuring its customers with a good environmental status to facilitate a serene environment for the communities living in the New Zealand Cook Island. The waters as well are maintained to the freshest waters, to ensure that it is quite conducive for salmon and for the community. The main objective of the New Zealand King Salmon Company is to improve the welfare of the employees by providing working environment for the employees, proper scale wages and promotional strategies. They ensure to work with the employees while improving their skills and productivity (Larsen, 2011).
Conclusion
In conclusion, New Zealand King Salmon is a leading producer of salmon fish in both New Zealand and the world with a production of 8500 metric ton. These comprise 70% of the salmon production in the New Zealand and the portion of 55% of the world’s salmon production. However, the company is faced with a challenge that retards the growth rate of the salmon fish leading to underestimated supply. However, the company has joined hands with major fish industries in the New Zealand to reveal the causes of the retarded growth. The company is owned and run by two major shareholders; Evergreen Holdings and Direct Capital Limited. Their shares composition is 93% with the remaining 7% owned by the management and the board of directors.
The company has been influenced by some macro-environment factors such as political, environmental and socio-cultural factors. The company has adopted proper technological techniques that enable it to run both efficiently and effectively. The company is socially responsible to the main people around its operations. These are employees, society, shareholders and relevant stakeholders. The company has a high sales turnover that leads in the Sydney Market. Lastly, the company is also socially responsible to its stakeholder who provides the funds for the running of the business. The company pays good returns on investments to the shareholders (Sankaran & Research, 2007). These serve as a good return. Generally, the New Zealand King Salmon Limited is a responsible corporate body which appreciates the efforts to environment, employees, customers and its stakeholder.
References
Bell, E. (2006). New Zealand King Salmon: On Sustainable Salmon Farming. StarChefs.com – Index Chef Recipes, Restaurant Jobs, Food Photos, Chefs Congress, Rising Stars, Culinary Schools. Retrieved September 19, 2013, from http://www.starchefs.com/cook/features/new-zealand-king-salmon-salmon-farming
Guerin, K. (2003). Property Rights and Environmental Policy: A New Zealand Perspective. Wellington, New Zealand: NZ Treasury
Kantian ethics: Shaw, W., Barry, B. & Sansbury, G (2009). Moral issues in business, Pacific ed, pp 71-78
Larsen, D. S. (2011). Thermal treatment of New Zealand king salmon (Oncorhynchus tshawytscha): physio-chemical and sensory properties and the role of astaxanthin in lipid oxidation. London: University of Auckland, Business School].
Martin, R., & Gillard, A. (2003). Salmon & seafood. Auckland, N.Z: Concept Pub..
New Zealand King Salmon Company Ltd., (2013). Website: http://kingsalmon.co.nz
New Zealand King Salmon, (2013), Sea Smoke Brand, Retrieved from: www.seasmoke.co.nz
New Zealand King Salmon, (2013). Southern Ocean Retail Brand, Retrieved from www.southernocean.co.nz
Regal Salmon, (2012). New Zealand King Salmon, Top Brands. Retrieved from https://www.regalsalmon.co.nz
Robbins, P., & Publications, i. (2007). Encyclopedia of environment and society. Thousand Oaks: Sage Publications.
Sankaran, J. K. (2004). Value-chain innovation in aquaculture: insights from a New Zealand case study. Auckland, N.Z.: Dept. of Information Systems and Operations Management, University of Auckland.
Sankaran, J. K., & Research, S. (2007). Towards a diagnostic for innovating in the value-chain for aquaculture (Version 1.0. ed.). Auckland, N.Z.: University of Auckland, Business School].
Scoop News, (2013). New Zealand King Salmon Launches New Scholarship Retrieved 30th Aug 2013 from http://www.scoop.co.nz
Solomon’s 3C’s: Solomon, R (2009). Its Good business, pp 39-40
Utilitarian: Velasquez, M (2012) Business ethics concepts & cases 7th ed, pp 76-83
New Zealand Cement Factory Incident
New Zealand Cement Factory Incident
Student’s Name
Institutional Affiliation
New Zealand Factory Incident
The main aim of this study is to determine whether organizational safety measures are exercised. The study was initiated after a series of major incidents around the country were reported. These ranged from minor to major injuries sustained at different work places. The will also seek to find out whether these accidents occur as a result of employees’ ignorance or no proper structures are not in place to deal with such situations. The study will give a bigger picture of workers’ safety in New Zealand. The study will use an incident that occurred as a case study.
Thesis statement
The incident used as a case study happened in one of the biggest manufacturers of cement in New Zealand. The outcome of this incident was very devastating. The victim suffered a broken a broken ankle on his left leg.
Incident analysis
The incident happened in an cement factory in New Zealand. The victim was hit on his left ankle by a bag of cement. The victims worked at the quality inspection unit, where the final checks on the bags were made. According to witnesses, the victim was at his work station when the accident happened. He was doing some paper work on the inspection table. Just behind his work table, finished bags of cement ready for inspection are stacked by means of a forklift. The forklift driver stacks the bags so that they are checked for any damages or improper packing. At the time of the accident, the victim was facing away from the stacked bags and, therefore, was caught unaware. The forklift driver pushed the bags too close to the victim, therefore, smashing his ankle on the table. According to the forklift driver, he was just trying to get the bags as close as possible to the victim for inspection. The driver also indicated that immediately called for help when he realized that he had knocked the victim down. According to him, the response was good. The victim was taken to the hospital and reports indicated that he suffered a broken ankle on the left leg. He could not work for the next three weeks and was given a sick leave. The company also compensated the victim and took care of the medical bills.
After this incident, the company launched investigations into the matter. Every witness was interrogated and they all gave their accounts. Mark, a colleague of the victim said that the forklift driver pushed the bags without first checking if someone was at the work table. On his side, the driver said that he didn’t see anybody at the table and that he was only getting the bags as close as possible to whoever would inspect them. The driver was also taken for a drug test to see if he was sober during the incident, but the results came out negative. The driver’s competency was not also in question as he had worked for the company for 15 years. Asked whether he had witnessed a similar incident before, he indicated that there had been a similar incident, but no victims were reported.
Discussion
The introduction of occupational safety and health (OSHA) at organizational was mainly to address incidents such as the above (Forastieri, 2001). It has positive impacts in reducing the occurrence of hazards. This document has been adopted by most governments around the world. This document has practical guidelines that define the safety of everybody in a factory setup. It should be adopted by all those who have the responsibilities of both occupational health and safety. It clearly outlines how the work place should be set up to ensure the safety of everyone (Kelloway & Cooper, 2011). In the above incident, it clear that there is no proper work place organization. The bags of cement are piled just close to where there is a workstation, putting whoever is at the inspection table at a high risk. The floor is not also marked appropriately to show virtual boundaries that the forklift driver could have used to avoid an accident.
Conclusion
Such incident like the one discussed above happen almost on a daily basis around the world. The OSHA document that clearly defines the safety management systems in a factory should be adopted by all companies and organizations industrial processes. The above incident reveals that there are still many companies in New Zealand that still don’t comply with guidelines in the Organizational health and safety document. The government should impose stiff penalties to those companies found in breach of OSHA guideline. The workers should also be constantly reminded of the organizational health and safety guidelines. This will make more responsible and, therefore, work in a safe environment. The health officials in every company also bear great responsibilities in enlightening other workers about safe working environments.
Future scope
To prevent the recurrence of such incidents, the government must work closely with health and safety officials to create awareness among the workers. Every single worker in a factory setup should also take it upon themselves to read about the safety in their workplaces. This can greatly reduce the number of reported accidents in the factories, in New Zealand and indeed the whole world.
References
Forastieri, V. (2001). Children at work: Health and safety risks. Geneva: International Labour Office.
Kelloway, E. K., & Cooper, C. L. (2011). Occupational Health and Safety for Small and Medium Sized Enterprises. Cheltenham: Edward Elgar Pub.
New Zealand Agri-Tech Industry Internationalization and De-Internationalization
New Zealand Agri-Tech Industry: Internationalization and De-Internationalization
The competition in the global Agri-tech market is fierce from foreign and domestic fronts. New Zealand companies in the Agri-tech market face stiff competition from the United States, Israel, and Ireland, reducing their market share in domestic and foreign markets. Therefore, Agri-giant should expand its global products market and adopt measures that reduce overall production costs to increase its competitiveness in the Agri-tech market. This report highlights existing global markets for Agri-tech products and evaluates how Agri-giant can adopt offshore manufacturing and innovation to improve its market share.
Global Market for Agri-tech Products
Agri-giant should also expand its exportation of Agri-tech products to Thailand. Thailand is amongst the largest importer of Agri-tech products globally; the country aims to increase crop yield, establish better farm management practices, and improve cold-climate vegetable production (Saunders, 2019). This provides an opportunity for Agri-giant to innovate its products to support precision agriculture and enhance harvesting and post-harvesting logistics. Thailand provides a broad market for Agri-tech products; thus, investing in this market will increase Agri-giant market share.
Secondly, Agri-giant should de-internationalize the exportation of Agri-tech products to Australia to increase its competitiveness and market share. Australia’s Agri-tech market is highly competitive from both domestic and foreign fronts. It is the largest market for New Zealand Agri-tech products and is physically closer to New Zealand, implying stiff domestic rivalry among competitors and leading to a reduction in the company’s market share and income.
In addition to Thailand, Agri -giant should expand its exportation of Agri-tech products to North America. Although there is a niche for differentiated New Zealand products in the North American market, the Agri-tech companies have not adequately explored the market. This provides an opportunity for expansion. According to Saunders (2019), North America has a large market that can absorb a high volume of Agri-tech products and create demand for the broad category of these products. Furthermore, North American markets pay a premium for quality products; this provides an opportunity for the company to charge higher prices on its products compared to prices in the other markets, increasing its revenue.
Additionally, Agri-giant should expand its exportation of Agri-tech products to South America. South America provides a suitable market for the exportation of Agri-tech products. The region is experiencing a rise in corporate farming and an increase in the number of agricultural firms adopting the best global Agri-tech products; this provides a market for Agri-giant products (Saunders, 2019). Additionally, New Zealand enjoys the advantage of being the first mover in the North American market, implying a broad and loyal customer base, an opportunity that Agri-giant can use to expand its market share.
Risks Mitigation
Exportation of Agri-tech products to physically distant countries such as China, Brazil, East Europe, and the Middle East and offshore manufacturing exposes the company to social, political, financial, and economic risks.
Financial and Economic Risks: Selling to physically distant countries and engaging in offshore manufacturing exposes the exporter to currency fluctuation, foreign exchange risks, incidences of economic downturn, broken contracts, and the failure of the business to pay (Brouthers et al., 2016). Although the risks mentioned above also exist domestically, the risks increase when companies sell or conduct business operations internationally. Businesses should buy credit insurance; this protects the business against non-payments, contract cancellation, and currency fluctuation risks to mitigate financial and economic risks (Hoke et al., 2019). Foreign exchange risks are prevalent in exportation; therefore, the business should understand and evaluate possible foreign exchange risks in these global countries where they operate and measure its exposure to minimize its impacts on profits.
Social Risks: International exportation exposes the business to direct and indirect activities that affect local and global communities. Social issues such as child labor and human rights issues, environmental degradation, involvement in terror financing and bribers, expose the business to social risks (Brouthers et al., 2016). These activities negatively impact business brand, reputation, credibility, and ultimately company’s sales. For instance, physically distant exportation and offshore manufacturing introduce business operation chain, linking the company to activities of the other companies in chain, this increases company exposure to indirect social risks. According to Hoke et al. (2019), to mitigate these risks, the company should ensure that its direct employers can spot any potential social issue in the domestic company and the other companies in the business chain and plan to deal with these risks.
Political Risks: Exportation exposes the business to different political risks such as political violence, outright expropriation, conversion and transfer risks, and repossession risks (Hoke et al., 2019). These events impact business negotiations for physically distant exportation and business operations for offshore manufacturing. Political risks are unpredictable. Thus, the most effective way of mitigating this risk is buying political risk assurance (Hoke et al., 2019). Additionally, the business can keep watch on the political happenings of all the countries it operates in and exports to ensure it takes swift actions to avoid any political challenge that can last longer.
Internationalization Activities to Improve Market Share
Offshore Manufacturing: The company can shift its manufacturing activities and operations to offshore countries with cheap and readily available factors of production such as labor and raw materials (Brouthers et al., 2016). This will reduce the cost of production, making the manufactured products more competitive abroad. For instance, an Agri-giant company can establish its manufacturing and production plant in India, Vietnam, China, or the Philippines, where the overall production cost is low.
Innovation: the Agri-giant company should upgrade its current products to meet the Agri-tech market’s ever-changing needs. Smart agriculture is rising, and demand for products that enhance crop management and rotation, indoor agriculture, post-harvest logistics, traceability services, and sensor and smart farm equipment continues to rise (Saunders, 2019). Therefore, the Agri-giant company should upgrade its harvesters’ products to include harvesting-related services, electric fences products to cater for crop management and rotation and develop products that enhance indoor agriculture. This will improve the company’s market share and competitiveness.
Economies of scale: The increasing scale of existing business will reduce the overall cost of production by spreading overheads and fixed costs and increase capacity utilization allowing the company to produce more products that ultimately lead to expansion in the product market (Brouthers et al., 2016). Additionally, a decrease in production costs allows the business to sell the products at low prices, enhancing its competitiveness in the global market.
Conclusion
New Zealand Agri-tech market experience stiff competition from domestic and foreign fronts. Activities such as offshore manufacturing, economies of scale, and innovation can help Agri-tech companies increase market share and remain competitive. New Zealand Agri-tech industries export to Thailand, North America, and South America; however, these businesses have not fully exploited these markets. There are tremendous opportunities that companies can use. Similarly, the Australian market is crowded and highly competitive companies. Thus, businesses should de internationalize their operations from the Australian agri-tech market. Nonetheless, exportation exposes the business to economic, financial, social, and political risks that companies should adopt measures to curb.
References
Brouthers, K. D., Geisser, K. D., & Rothlauf, F. (2016). Explaining the internationalization of business firms. Journal of International Business Studies, 47(5), 513-534.
Hoke, E., Marada, J., & Heinzová, R. (2019). International trade risks. In MATEC Web of Conferences (Vol. 292, p. 01047). EDP Sciences.
Saunders, C. (2019). Sustainable agriculture–life beyond subsidies: Lessons from New Zealand. Journal of Agricultural Economics, 70(3), 579-594.