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Seaking Bounty is a large New Zealand fishing business that has a proud history, having been in operation for 80 years. It has grown from being a small family business to a global enterprise which now employs more than 1,200 workers.
Seaking Bounty harvests, farms, processes, and markets seafood products. It currently has operations in both New Zealand and Australia, and exports to over 20 countries, predominantly in the Asian region.
Some of the fish species caught by Seaking Bounty include hoki, kahawai, orange roughy, and snapper. In addition, Seaking Bounty has large-scale mussel farms in the Marlborough region and a salmon farm in the Otago region.
As well as aiming to consistently return strong profits to its shareholders, Seaking Bounty also has clear environmental, social, and cultural sustainability goals. In particular, it sees itself as a strong kaitiaki (guardian) of the sea for future generations, and endeavours to provide an enjoyable and safe workplace for its employees.
Source: https://marlboroughnz.com/guides/wine-food-craft-beer/greenshellmussels#guide
In recent times, the global pandemic has resulted in many countries implementing restrictions on their populations to reduce the spread of the virus.
Seaking Bounty has been hit particularly hard by the restrictions imposed by the Chinese government, as it currently exports 40% of its seafood products to China. These restrictions have included a ban on seated dining in restaurants and bars, resulting in reduced demand for seafood.
Evaluate a strategic response that the business has implemented, or could implement, in response to a decrease in demand from an export market.
State the strategic response, and explain why this is a business-wide reaction at multiple levels (at least TWO of size, scope, and timeframe).
Explain one positive effect the strategic response would have on the business.
Explain one negative effect the strategic response would have on the business.
Provide a justified conclusion, including any new information, as to the likely success of the strategic response.
Seaking Bounty is a large New Zealand fishing business that has a proud history, having been in operation for 80 years. It has grown from being a small family business to a global enterprise which now employs more than 1,200 workers.
Seaking Bounty harvests, farms, processes, and markets seafood products. It currently has operations in both New Zealand and Australia, and exports to over 20 countries, predominantly in the Asian region.
Some of the fish species caught by Seaking Bounty include hoki, kahawai, orange roughy, and snapper. In addition, Seaking Bounty has large-scale mussel farms in the Marlborough region and a salmon farm in the Otago region.
As well as aiming to consistently return strong profits to its shareholders, Seaking Bounty also has clear environmental, social, and cultural sustainability goals. In particular, it sees itself as a strong kaitiaki (guardian) of the sea for future generations, and endeavours to provide an enjoyable and safe workplace for its employees.
Source: https://marlboroughnz.com/guides/wine-food-craft-beer/greenshellmussels#guide
Seaking Bounty is developing a new line of squid products for export to Spain, the world’s ... ... nutritional content. It is a rich source of protein, vitamins, minerals, and healthy fats.
Source (adapted): https://www.businesswire.com/news/home/20200317005534/en/2020-Report-on-the-Global-Squid-Market---Major-Importer-and-Exporter-Countries---ResearchAndMarkets.com
You may choose either Seaking Bounty or a New Zealand-registered business operating in a global context you have studied in depth.
Identify one government or non-government agency that could support the business to develop a new product for a particular market:
Government or non-government agency:
Explain one likely benefit to the business of working with this agency.
Explain how support from this agency would affect profits.
Seaking Bounty is a large New Zealand fishing business that has a proud history, having been in operation for 80 years. It has grown from being a small family business to a global enterprise which now employs more than 1,200 workers.
Seaking Bounty harvests, farms, processes, and markets seafood products. It currently has operations in both New Zealand and Australia, and exports to over 20 countries, predominantly in the Asian region.
Some of the fish species caught by Seaking Bounty include hoki, kahawai, orange roughy, and snapper. In addition, Seaking Bounty has large-scale mussel farms in the Marlborough region and a salmon farm in the Otago region.
As well as aiming to consistently return strong profits to its shareholders, Seaking Bounty also has clear environmental, social, and cultural sustainability goals. In particular, it sees itself as a strong kaitiaki (guardian) of the sea for future generations, and endeavours to provide an enjoyable and safe workplace for its employees.
Source: https://marlboroughnz.com/guides/wine-food-craft-beer/greenshellmussels#guide
As a result of the employment of many migrant workers, Seaking Bounty has a diverse workforce. To improve its cultural intelligence, managers at Seaking Bounty have regularly attended courses and travelled to the home countries of their workers.
Cultural intelligence is the ability to recognise and respect the beliefs, values, attitudes, and behaviours of different groups of people related to the business and its operations.
You may choose either Seaking Bounty or a New Zealand-registered business operating in a global context you have studied in depth.
Explain how the demonstration of cultural intelligence by management will affect employees.
Explain how the demonstration of cultural intelligence by management will affect the economic sustainability of the business.
Seaking Bounty is committed to ensuring the marine environment is sustained for future generations. Two of the actions it has taken to help meet society’s expectations of the fishing industry in regard to environmental sustainability are:
Society also has an increasing expectation that businesses will ensure a safe and healthy working environment for employees, and that they will contribute positively to the wider community. Actions taken by Seaking Bounty to ensure that it meets its social sustainability goals include:
Evaluate a strategic response that the business has implemented, or could implement, to address societal expectations of EITHER environmental OR social sustainability.
Enter the details of a New Zealand-registered business you have studied that is operating in a global context and that has taken, or could take, action to address societal expectations of environmental or social sustainability. Do not use Seaking Bounty.
Name of New Zealand-registered business, and their good(s) sold or service(s) provided.
State the strategic response, and explain why this is a business-wide reaction at multiple levels (at least TWO of size, scope, and timeframe).
Explain one positive effect the strategic response would have on the business.
Explain one negative effect the strategic response would have on the business.
Provide a justified conclusion, including any new information, as to the likely success of the strategic response.