Loss of Profit in Fish Farming - Research Proposal Example

Fish Farm Proposal Subject Institution Instructor Name Date Abstract The reason of this piece is to study the factors that result in loss of profit in fish farming. It will also study the benefits of fish farming. The study will further study the impact of climate change on fish farming. To make this a possibility, a model was, established in literature to evaluate what factors benefits fish farming and what factors hinder its success and sustainability. Out of the culminated literature, the researcher concluded that Fish farming was profitable thought was open to Geographical, educational, economic, political, and social challenges. The observation made showed that most fish farms had no extensive information about factors that had a direct impact on their fish farming. As a result, many had failed to achieve the best results from their fish farming projects. These study to focuses on the practice of fish farming and the impact on it by the aforementioned. This study purposes to show the real factors behind losses in fish farming especially in the UAE. It is farmer’s responsibility to formulate their strategies to survive in the current competitive market. Introduction The creation of every project, organization, or business purposes on success and continuous progress; the aim being good profits; in today’s business sphere, retaining employees in organizations regardless of size or market has become a matter of competition. To rise above this every businessperson whether in the agricultural sphere or any other business related field needs to understand the forces behind business failure. Fish farmers have to come up with applicable ways to evade and deal with the present and future challenges. In order to in future, to control losses in fish farming, fish farmers need to develop markers for predicting changes in the fish market and the possibility of losses. It is vital for the fish farms and those in the fish business, to study the main courses of loss, in order to identify triggers for the losses and be equally able to prevent them. By identifying factors that lead to losses in fish farming, it is possible Background of the study This study will analyze and show the geographical, economic, social, and political impact on fish farming in UAE. It will also show how fish farming can achieve competitive success to by understanding the market. In the past year, fish farming has seen a significant rise in its sales as the fish-eating culture finds its way into the country. However, the sales are not enough, and companies like Asmak have netted DH240.5million loss. According to the information at hand, the loss is because of continued investment that saw a lot of money get redirected for development (Evering ton, 2014). Surprisingly the number of seafood imports in the UAE year 2011 reached a high of Dh367million (US$ 100 million). The statement of the problem Major fish farm companies in UAE have been facing challenges that pose a threat to their ability to make a profit and grow. These have seen UAE companies continue to make losses; as a result, despite their huge investments and increased customer base. The UAE despite managing to push its standards to the highest levels it still is far behind in the fish market. However to achieve change there is a need to understand clearly why the losses paradigm is still not being eloped from despite extensive action being taken. Literature Review A fish farm is a place where raising of fish commercially in an enclosed place done for the purposes of food (Reantaso, (2007). The major purpose of a fish farm is to rear fish to sell for a profit. Little, & Edwards, (2003) states that a fish farm is a facility made up of tanks, ponds in where fish are reared commercially for food. Oxford Business Group (n.d.) asserts that a fish farm is a large-scale cultivation of fish in order to feed the increasing demand of fish in the world affecting world ecosystems positively or negatively. ; simplifying the definition of fish farming Encyclopedia Britannica, (n.d.). First notes that fish farming equally known as aquaculture it involved the planned cultivation and growth of fish for harvesting the fish for food as opposed to hunting or fishing out in the wild. Making the fish farm definition laydjian, (2002) points out that a fish farm is simply a place where fish get reared for food: a commercial facility created for raising aquatic animals for food. Fish farming in UAE Among the Gulf countries belonging to GCC (Gulf Cooperation Council) the UAE was the first to the country to pioneer the culture of fish farming. ; endowed with naturally occurring lagoons, creeks and countless bays many of which are surrounded by mangrove swamps. These are the perfect place for spawning a nursery for a wide variety of shrimp species and fish (Oxford Business Group, n.d.). In the hope to utilize the fishing environment, MOEW (Ministry of Environment and Water) established MERC (Marine environment Research centre) in 1984 located in Umm Al Qaiwain UAE west coast. Using the local fish MERC raised fingerlings such as grouper that are orange spotted, spine-foot, which is white spotted, sobaity sea bream, and mullet (Encyclopaedia Britannica, n.d.). However, recently this effort got rewarded by the construction of the world largest fish farm ever, stretching over 56,000 ft2. The fish farm produces up to 700 tones Sturgeon produce and 35metric tones of caviar yearly (Oxford Business Group, n.d.). Fish farm Losses Despite the huge $321million investments directed towards fish farming in the UAE. Fish farm group ASMAK losses continued to make losses with over AED 1.9m in the year 2013 in sea bream, tilapia and barramundi and a total of AED 14.4 million. Current News, (2013). These were worse than the previous year where a loss of AED 9.4 ($2.6 million) seen. Factors that cause loss in fish farming 200 Many factors cause Fish kill, these can range from overpopulation, algae bloom, increased temperatures, parasites, infectious diseases (Reantaso, (2007). Adding to these Little, & Edwards (2003), asserts that the fish kill can result from starvation, body injury, bad weather, predation, stress and suffocation. Some fish die of old age however laydjian (2002), states that fish mostly die because of environmental changes. Theoretical Framework From the foregoing literature reviewed above for the study, several factors have been UAE making huge investments in fish farming, but suffering huge losses. It is vital to finding the underlying issues are behind the losses. General Objective of the Study The supreme objective of this study will be to find out why the country companies continue to suffer a loss in place of huge investment.. Sub-objectives of the study i) To find out the factors that affect the Fish farm ii) To identify faults in the current system that cause loss Study design and methodology This study will employ descriptive/ exploratory research design. Because of this, questionnaires have been selected as the instruments of data collection. The researcher will be interested with information, gathered from ASMAK concerning the topic: This data will get analyzed statistically. Target population and sample design The universe will be employees of ASMACK that will include the managers, supervisors, and workers. 50% will get selected for the purposes of this study. The sample design will involve taking a stratified random sample of 50% f from the population. A stratified random sample is appropriate for this study, as the population is not homogenous; as the sample made of managers, supervisors and the workers. Data collection and Procedures The study will employ a structured questionnaire and an interview guide in the data collection process. The questionnaire will contain open-ended and closed questions. The researcher will administer these and collect them once filled. An interview guide will apply from managers. These are because more information will get required from them. The researcher will also dig through past performance data, and come up with inferences and comparisons, to bring out needed changes related to employee motivation. Data analysis and expected output The study will use quantitative and qualitative analyze the emerging themes; the responses shall get determined on the basis of the research objectives. Frequency shall get run, and percentages tabulated presenting the findings in graphical forms, bar and pie charts using the help of the SPSS software. The results will get analyzed, compared and completed, and upon completion presented in the final research report, which shall include conclusions and recommendations of the study. In the end, the researcher expects to establish that employee motivation that is affected by remuneration and empowerment has an effect on ASMAK performance. Conclusion In trying to find the best strategy for success, it is better to study more causes of loss on fish farm in order to have a basis for change. References Current News. (2013, November 26). UAE fish farming group deepens losses in 2013. Undercurrent News. Retrieved October 18, 2014, from http://www.undercurrentnews.com/2013/11/26/uae-fish-farming-group-deepens-losses- in-2013 Little, D. & Edwards, P. (2003). Integrated livestock-fish farming systems. Rome: FAO. NoAuthorFound. (2013). Britannica Book of the Year 2013. Chicago: Encyclopaedia Britannica, Inc. NoAuthorFound. (2013). Report : abu dhabi 2013. S.l: Oxford Business Group. Kalaydjian, R. (2002). Marine economic data 2001. Plouzane: IFREMER. Reantaso, M. (2007). Assessment of freshwater fish seed resources for sustainable aquaculture. Rome: Food and Agriculture Organization of the United Nations. Read More