What strategies will you undertake to minimize the hazards

Assignment Help Financial Management
Reference no: EM132380352

Question

Fresh Choice is a family-owned corporation engaged in multifaceted fishing business activities. Among these related businesses are commercial fishing, cargo freight forwarding, cold storage and tuna processing.

For commercial fishing, Fresh Choice catches fishes and other seafood for profit. With 35 small vessels and 15 ships used for this purpose, the company fishes in the sea and far into the ocean. Fresh Choice hires a total of 580 employees: fishermen, staff, supervisors and managers. Some of the personnel conduct researches and develop improved techniques how to catch only their targeted marine animals to avoid catching unwanted and endangered species, and to likewise study the marine conditions of the waters to ensure that marine ecosystems are not destroyed.

The company harvests wide variety of marine animals from tuna, salmon, cod, carp, mackerel, to crabs, shrimps, squids, lobsters and other fish and seafood species. Fishing methods range from hand-casting nets, few pot traps to a huge fleet of trawlers, dredges, hooks, lift nets and others.

In existence for the last 45 years, Fresh Choice has been enjoying good business. Its profits have consistently increased for the last 28 years. Aside from fishing, their incomes come from other related businesses. For example, the company rents out cold storage services to other companies that need space to hold their marine harvests. This business activity has been lucrative for Fresh Choice. In addition, the company is into cargo freight forwarding. Fresh Choice provides services by organizing shipments for individuals or other companies to get their harvested fishes and seafood to their point of destination. Lastly, Fresh Choice is a tuna processing company. It cleans tuna, then packs and freezes them or cans them for sale in supermarkets.

Some of the problems encountered by Fresh Choice Fishing Company include the constant threat and dangers to the fisherman's lives. The variability of weather due to climate changes poses hazards to the business. Fatalities and injuries are high in the fishing business during severe weather conditions.

Extreme fatigue, vessel instability, flooding, ship malfunctioning, captain inefficiency and other related vessel of ship disasters present occupational hazards to fishermen. Secondly, although the fishing business provides an abundance of jobs, security of compensation is largely dependent on whether one joins a vessel or a ship. Pays also vary from season to season. Thirdly, increasing energy fees unpredictably add to the operational expenses of Fresh Choice's cold storage and tuna processing businesses. This is also true for the fluctuating gasoline prices that the company needs to consider in their cargo freight forwarding business.

As the Vice-President of Operations of Fresh Choice Fishing Company, what strategies will you undertake to minimize the occupational hazards confronting fishermen and improve their compensation security? Use the case method to come up with an action plan.

Reference no: EM132380352

Questions Cloud

What does management discuss in the management discussion : What does management discuss in the Management Discussion and Analysis section of the Comprehensive Annual Financial Report.
Discuss loss carryforwards and carrybacks : Identify and discuss the following aspects of Coca Cola's consolidated tax expense disclosed in the financial statements (2018). explain and provide details.
Determine the cost of goods available for sale : Carla Vista Co. had a beginning inventory of 92 units of Product RST at a cost of $7 per unit. During the year, purchases were.
Responding to social problems that affect populations : Responding to social problems that affect populations you serve as a social worker is only one aspect of the professional responsibility you must undertake.
What strategies will you undertake to minimize the hazards : What strategies will you undertake to minimize the occupational hazards confronting fishermen and improve their compensation security?
Sexual orientation in young and middle adulthood : What does evidence-based research say about the development of sexual orientation in young and middle adulthood?
Difference between biological and social view of race : What is the difference between a biological and a social view of race? Explain how race is a social construction rather than a biological one.
What is the correct adjusted ending cash balance : The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000 and the Bad Debt Expense accounts has an unadjusted balance.
What might be the role of social worker for situation : What might be the role of a social worker for Situation 1, Situation 2, and Situation 3?

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd