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Aqua Fish Essay

1939 words - 8 pages

To: Guy Mills
From: Adam Rice
Date: Februrary 22,2014
Subject: Reports for Aqua Fish Canada Inc.

Executive Summary
Aqua Fish Canada Inc.(AFC) is facing with several challenges that the board ofdirector decided to adopt new business strategies to meet its corporate strategic goals. Currently, Site 3 employees' neglect of duties and increasing competitive aquaculture industry has made AFC's position at a disadvantage. Therefore, they determined to implement proper strategies (diversifyinto shellfish farming or Project Blue Wave) to enhance its profitability in a better way.
The detail of analysis will be shown in the following report. Based on the ...view middle of the document...

• Stratigic Goals
1. Increasing profitablity of the current salmon operation (increase oversea sales, diversify into shellfish )
2. Decrease operating costs

• Key stakeholders' preferences
1. Board of director: pursue the new strategic goals
Move the company into other markets and diversify into shellfish
2. Juliette Maise: Opening overseas sales office
3. Dr. Lily Stern: Project Blue Wave Proposal

• Constraints
1. Each site should yield 950,000 kg
2. Proposed investment should generate a mimimum after-tax return of 10% within five years
3. Eastern bank of Canada could provide a loan of no more than $3 million as long as AFC maintain a gross profit margin of at least 20%

• Environmental Scan
According to the SWOT analysis (Appendix 1), it is obvous that although AFC faces several challenges, it still has some strengths,which could be their competitive advantages to help them make profit in the future. Firstly, the high reputation for the qualityof their products is the number one core value for AFC. Also, the knowledgeable management team, who are very experienced in this industry, could contribute their professinal advices for AFC to help it through difficulties. Additionally, as as member of New Brunswick Salmon Growers Association,who also has a good relationship with bank, also can help AFC gain additional funds.
On the other hand, there are also some significant issues that AFC must fix. Firstly, fish from Site 4 were rejected by three important customers, which definitely damaged AFC's reputation and conflict with its mission statement. AFC also lost a large number of young fish due to Site 3 employees neglected their duties. Moreover, facing with the much more competitve industry, AFC lost one of its largest retail customers. Additionally, since the accounting system AFC currently used can only handle transactions in two currencies, it will affect AFC's oversea transactions with other countries.
The key susccess factors (KFC) and key risk factors (KRF) for AFC are concluded as follow:
KSF
1. High reputation for delivering a quality products in timely basis
2. Knowledgeable management team
3. AFC's fish are in the top category, which can be sold at highest wholesale market price

KRF
1. Intense competition unable AFC to meet its budgeted revenue targets
2. Unqualified workers in Site 3 and 4
3.Changing of customers' tastes
4. Strengthening of the Candadiandollar against the U.S. dollar has had a negative impact on exports to the U.S.

• Ratio Analysis (See Appedix 2 for detail ratio calculation)
Based on the liqudity ratios, AFC has a healthy current ratio (increasing trend) that its current ratio from 2008 to 2011 are 1.36, 1.64, 1.72, and 1.74 respectively, which indicates AFC could pay back its short term liabilities when they come due. However, the quick ratio for AFC is relatively low(0.41, 0.44, 0.47, 0.34 in recent four years),which demonstrates that AFC needs to rely on sales...

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