Case 16 New England Seafood Company Prepared for: New England Seafood Company’s Senior Management Prepared by: New England Seafood Company’s Senior Management Adam Jeff Conner Bryan February 6, 2014 Executive Summary New England Seafood Company executives face a potential two-stage plan to move into the freshwater catfish market because of the banned oyster harvesting along much of the Atlantic and Gulf Coasts, and increased competition from foreign producers. These factors have resulted in significantly lower yields for New England Seafood. In order to stay in business, New England Seafood Company needs to look at harvesting and processing something other than seafood. New England Seafood Company looks to …show more content…
Lastly, we will evaluate how New England Seafood can best utilize existing land for the benefit of multiple division, ultimately showing through discounted cash flows that it is in New England Seafood’s Companies’ best interest to keep their existing land along the Pascagoula River for the new catfish division while also utilizing an option to secure the needed land for the future use of the Gulf Shrimp Division. Summary of Facts New England Seafood Company is a leader in the northeastern United States in harvesting and processing seafood. The company’s senior executives believe that there must be a change in the corporate strategy to maintain their competitive advantage, as foreign producers are affecting their current yields. Currently, New England Seafood Company operates in the Atlantic Ocean and Gulf of Mexico dealing exclusively in saltwater fish. Management feels that a move into the freshwater fish sector will provide the company with a new directive and future stability. The company is looking into a two-step strategic move into the freshwater catfish market. The stages will call for the construction of catfish ponds and a processing plant of limited capacity to go along with the ponds. The next stage involves the development of a major facility. This larger facility will house several divisions, including the entire fresh-fish processing division,
The consumer market for freshwater ornamental fish and related products in the US exceeds $700 million annually and is growing at a rate of nearly 9% per year
Yorktown Technologies is a fairly new company that is marketing and introducing GloFish into the market. In 2002 Yorktown raised $500,000 fro investors under the projection that it would have $4,000,000 in profits in 2004. Sadly the company only had $500,000 in revenues and had an outstanding $620,000 in expenses leaving the company $120,000 in the red (Roger A. Kerin, 2010). Alan Blake of Yorktown Technologies is searching for what to tell the board of directors in the next board meeting. Major changes are needed in order for Yorktown to turn around and become profitable.
Black sea bass is an important recreational and commercial species along the Atlantic coast of the U.S. The market for black sea bass is for human consumption and is primarily sold fresh or frozen. In May of this year, NOAA scientists declared the southern stock of black sea bass successfully rebuilt. The catch limit for this popular fish will more than double this fall. The rebuilding plan was required by the Magnuson-Stevens Fishery Conservation and Management Act, which requires that overfishing end immediately, that overfished stocks be rebuilt, and that stocks be subject to annual catch limits. The fish are also larger on average and are showing up in places where they haven’t
“Seafood is a good example. All the seafood we source here is sustainable, such as salmon and cod. We’ve also, however, started to work with local fisherman to use underutilized fish. That is, buying fish that would otherwise be considered by catch and never brought to market. So, for instance, redfish or pollock. We’re introducing students to these fish in order to make them more acceptable and mainstream.”
The rock lobster fishery is a principal business in the Tasmanian industry, supplying considerable benefits by exporting to the mainland (local) and international fishing markets from both the commercial fishery and an enjoyable fishing. Although exports of cooked product have decreased, the exporting of live rock lobster product has improved dramatically since the late 1980s.The main target market was Hong Kong while Japan, the United States of America and China/Taipei were imported as top second markets in 2006/2007(Dpipwe.tas.gov.au, 2015).
The New England Seafood Company is a must for those who love eating seafood without those high prices. The company sources high quality ingredients that come straight from New England Harbors. With so many delicious menu options, there is a something for everyone to fall in love with.
Alaska’s largest economic-sector employer, commercial fishing is a dominant contributor to employment and wages. The fishing industry employs tens of thousands of individuals producing billions of pounds of seafood for the US and the world. Alaska commercial fisher- men, when speaking in terms of what encompasses success depends on which oceanic species commercial fisheries are concentrating. These range from king salmon, chinook, herring, halibut and black cod, and snow crab.
Examples of forage fish include sardines, anchovies and herrings. Scientists have shown that catching forage fish instead of cod is a more sustainable approach. According to research from the University of British Columbia Fisheries Center, the forage fish population has more than doubled in the past century (Christensen, 2014). A main cause for the population growth is that human beings are overfishing forage fish’s predators like cod and tuna. When overfishing of cod occurs, herring population increases naturally due to the reduced effect of trophic cascade. Herrings are very abundant in the Gulf of Maine and they are not overfished. Furthermore, fishing herring and cod both use mid-water trawling (NOAA, 2015), so fishermen can easily adapt to fishing herring instead of cod, and the bycatch of other species can be significantly reduced with modified fishing gears (Monterey Bay Aquarium Seafood Watch, 2015). However, even though herrings are very abundant, we should only fish them sustainably. Strict regulations based on scientific research need to be implemented in order to avoid overfishing herring, which can be harmful to the recovery of the cod
The New England Aquarium is the perfect excursion for little ones and adults alike. At the Aquarium you can see a Halmahera Walking Shark scurrying across the floor, perfect *your* waddle while watching the penguins, and even pet a sea a star. The indoor/outdoor aquarium also features an IMAX theater and Whale Watching expedition. While you're exploring the Aquarium in downtown Boston, you can also check out some of the other popular nearby attractions like the Greenway Carousel and the Christopher Columbus Waterfront Park. Don't wait to book your trip to the Aquarium until you're already in the area. Instead, think ahead and book one of **these** accommodations now so you're guaranteed to be close to a ~wild
Seafood at tee retail sale level. However, economists generally do not utilize economic Analysis from that level. Except for niche markets, seafood supplies are readily available
Ocean fishes have been consumed by humans beyond their maximum sustainable yields for years and the Atlantic cod and squid are two examples. Cods were primarily overfished to commercial extinction. Other variables were also examined to see if they contribute to the declining population. Water temperature was the natural phenomenon that may be responsible for poor egg hatching. Human causes such as increased UV radiation from depleted ozone and bottom trawling disturbance were considered. Trawling disturbance had the worst effect while the other factors were questionable. As the cod vanished, the commercial fisher turned to squid to continue their way of life. Government policy and
Due to the rise of the fishing sector, several Alaskan Halibut fishing service providers have emerged. Each service provider offers Halibut fishing packages meant to accommodate all of their customers’ needs such as fishing,
U.S. fishermen have been harvesting Atlantic cod since the 17th century; in fact, cod was one of the most lucrative products traded during colonial times. Unfortunately, due to high fishing pressure during the past couple of decades, U.S. stocks of Atlantic cod came close to a commercial collapse in the mid-1990s, so a major effort to rebuild these stocks was implemented. However, 2012 assessments have indicated that both the Gulf of Maine and Georges Bank cod stocks are still seriously overfished and are not recovering as fast as expected. Overfishing of cod has led to the suffering of the entire North Atlantic
The aim of setting up Lobster Truck Food Company is to take our various types of seafood based sandwiches and soft drinks (chapman, punch, non – alcoholic wines, smoothies, and fresh fruit juice et al) to wherever we can find our target market. It could be on the beach, it could be at a picnic ground, it could be on a carnival ground, sports complex, as well as a religious crusade ground. All that we are concerned about is to provide good quality food at a cheaper price to our highly esteemed customers.
The Boiling Crab is considered to be a restaurant business; therefore, the main focus of the business is to increase new customers and sustain the existing customers. The restaurant is also considered to be in the service business, so many customers expect a good service and food from this kind of business. Moreover, referring to table 1, the main focus of the business is in California because twelve locations have already opened, but the other four locations will be opened soon. Referring to IBIS World, the business location percentage for the seafood in California is 14.4% which is the highest percent in U.S. Therefore, the company focuses on the right location for the seafood restaurant.