1.Introduction Management is the process by which people, technology, job takes and other resources are combined and coordinated so as to effectively achieve organisational goal. The organizational study is intended to familiarize one with the seafood industry and to obtain knowledge about the functioning of a seafood business. The chief objective of the study is to understand the operations in the different departments within a seafood industry, so that one can have exposure to the practical side. The organizational study is also being undertaken to attain knowledge about the various services offered by Blue Wild International FZ, Ajman. Blue Wild International FZ, of the Dubai-based Seafood Company, is an exporting and importing of seafood’s to some of the world's largest companies in and around the world. Its services include trading and supplying of all variety of quality seafood to their trusted customers and who are providers of frozen seafood to some of the leading Supermarket Chain in Europe and USA and Far East. Being a quality oriented Organization, they consider quality as our primal objective. 1.1 Need and Significance of Study 1
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1. Introduction
Management is the process by which people, technology, job takes and other
resources are combined and coordinated so as to effectively achieve organisational
goal.
The organizational study is intended to familiarize one with the seafood industry and
to obtain knowledge about the functioning of a seafood business. The chief objective
of the study is to understand the operations in the different departments within a
seafood industry, so that one can have exposure to the practical side. The
organizational study is also being undertaken to attain knowledge about the various
services offered by Blue Wild International FZ, Ajman.
Blue Wild International FZ, of the Dubai-based Seafood Company, is an exporting
and importing of seafood’s to some of the world's largest companies in and around the
world. Its services include trading and supplying of all variety of quality seafood to
their trusted customers and who are providers of frozen seafood to some of the leading
Supermarket Chain in Europe and USA and Far East. Being a quality oriented
Organization, they consider quality as our primal objective.
1.1 Need and Significance of Study
The organization study at Blue Wild International FZ, Ajman UAE was carried out as a part
of the MBA curriculum for a period of about 45 days. (From 10 thJune to 24thJuly 2015). The
main aim of the study was to gather the details regarding the functioning of various
departments present in the organization and to understand the working atmosphere of the
concern.
1.2 Objective of study
1. To become familiar with the functions of various departments off Blue Wild
International FZ.
2. To understand how the key business processes are carried out in organisation.
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3. SWOT Analysis to identify the major strength and weakness of the company
for improvement.
1.3 Scope of study
With the increasing entity of new companies, introduction of new technology and
changing economy the world of business is changing very rapidly.
The study was undertaken at Blue Wild International FZ. Expose to the practical side
of business enterprise. And this study tells us an overall view of organization history,
structure functions and products of the company. This study exposes to various
departments like Marketing, Finance, Human resource, etc...
1.4 Research methodology
Research methodology is a way to systematically solve the research problem. The
success of a research depends largely on the methodology used. The appropriate
methodology will improve the validity of the findings. The following methodologies
were adopted for the study. The study is done through by collecting primary data and
secondary data.
1. Primary Data
Primary data were collected through observation, personal interview,
discussion with managers and employees of the various departments of the
organisation.
2. Secondary Data
Secondary data are the data, which are early, collected by someone’s. It is
obtained from various sources other than primary data. Secondary data consists
of catalogue, manuals, magazines, annual report and internets. It is sufficient or
an effective study. Secondary data were collected by:
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a) Internet Website
b) Magazines, catalogue of the company.
1.5 Scheme of reporting
This report is presented in five chapters. The first chapter introduces the study. It contains
objective of the study, scope of the study, methodology and scheme of reporting. The second
chapter on Industry profile include introduction to seafood industry, history, global scenario,
and Indian scenario. The third chapter gives the profile of Blue Wild International FZ, it
contains an introduction, objective of the company, vision and mission of the company,
philosophy, promoters of the company, organisation structure of the company, product
profile, future plans and SWOT analysis of the company. The fourth chapter it contain details
study of departments. The fifth chapter contains observations conclusion and bibliography of
the study.
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Chapter 2
INDUSTRY PROFILE
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2.1 Introduction
Fishing Industry is the industry which includes any industry or activity concerned with
taking, culturing, processing, preserving, storing, transporting, marketing or selling
fish or fish products. It is defined by the Food and Agriculture Organization as
including recreational, subsistence and commercial fishing, and the harvesting,
processing, and marketing sectors. The commercial activity is aimed at the delivery of
fish and other seafood products for human consumption or as input factors in other
industrial processes. Directly or indirectly, the livelihood of over 500 million people
in developing countries depends on fisheries and aquaculture.
Seafood is any form of sea life regarded as food by humans. Seafood prominently
includes fish and shellfish. Shellfish include various species of molluscs, crustaceans,
and echinoderms. Historically, sea mammals such as whales and dolphins have been
consumed as food, though that happens to a lesser extent in modern times. Edible sea
plants, such as some seaweeds and microalgae, are widely eaten as seafood around the
world, especially in Asia (see the category of sea vegetables). In North America,
although not generally in the United Kingdom, the term "seafood" is extended to fresh
water organisms eaten by humans, so all edible aquatic life may be referred to as
seafood. For the sake of completeness, this article includes all edible aquatic life.
The harvesting of wild seafood is usually known as fishing or hunting, and the
cultivation and farming of seafood is known as aquaculture, or fish farming in the case
of fish. Seafood is often distinguished from meat, although it is still animal and is
excluded in a strict vegetarian diet. Seafood is an important source of protein in many
diets around the world, especially in coastal areas.
Most of the seafood harvest is consumed by humans, but a significant proportion is
used as fish food to farm other fish or rear farm animal. Some seafood’s are used as
food for other plants. In these ways, seafood’s are indirectly used to produce further
food for human consumption. Products, such as fish oil and spiralling tablets are also
extracted from seafood’s. Some seafood is feed to aquarium fish, or used to feed
domestic pets, such as cats, and a small proportion is used in medicine, or is used
industrially for non-food purposes.
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2.2 History of Seafood Industry
The history of the seafood industry dates back to the 18th century revolutionary war
era, when English settlers harvested Chesapeake bay species like oysters, shad and
herring. The 19th century saw an increase in the need to transport agricultural products,
and the use of railroads, canals and steamboats became widespread. These news
modes of transportation and, in in return, the industry began to grow, targeting
oysters, shad, striped bass, blue crabs, and alewives.
By the beginning of the 20th century, 20 billion bushels of oysters were being
harvested from the Bay each year. This led to a dramatic drop in oyster population.
Other fish species’ populations began to see a decline, as well, as the range and
mobility of commercial fisheries increased in the mid-1900s. This decline in
population, coupled with pollution from poor agricultural practices and growing cities
and suburbs, brought about a decline in the health of the Chesapeake that is still being
battled today.
The seafood business produces food for consumption by end consumers: retail, food
service (restaurant), and institutional. The demands and tastes of these end consumers
drive the entire industry. The seafood industry competes with other protein producers,
including red and white meat and poultry, on a local, national, and international level.
In short, the industry must emphasize the food component of the term seafood and
must think globally.
Historically, sea mammals such as whales and dolphins have been consumed as food,
though that happens to a lesser extent in modern times. Edible sea plants, such as
some seaweeds and microalgae, are widely eaten as seafood around the world,
especially in Asia. In North America, although not generally in the United Kingdom,
the term "seafood" is extended to fresh water organisms eaten by humans, so all edible
aquatic life may be referred to as seafood. For the sake of completeness, this article
includes all edible aquatic life.
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The harvesting of wild seafood is usually known as fishing or hunting, and the
cultivation and farming of seafood is known as aquaculture, or fish farming in the case
of fish. Seafood is often distinguished from meat, although it is still animal and is
excluded in a strict vegetarian diet. Seafood is an important source of protein in many
diets around the world, especially in coastal areas.
Most of the seafood harvest is consumed by humans, but a significant proportion is
used as fish food to farm other fish or rear farm animal. Some seafood’s are used as
food for other plants. In these ways, seafood’s are indirectly used to produce further
food for human consumption. Products, such as fish oil and spirulina tablets are also
extracted from seafood’s. Some seafood is feed to aquarium fish, or used to feed
domestic pets, such as cats, and a small proportion is used in medicine, or is used
industrially for non-food purposes.
In medieval times, seafood was less prestigious than other animal meats, and often
seen as merely an alternative to meat on fast days. Still, seafood was the mainstay of
many coastal populations. Kippers made from herring caught in the North Sea could
be found in markets as far away as Constantinople. While large quantities of fish were
eaten fresh, a large proportion was salted, dried, and, to a lesser extent, smoked. Stock
fish cod that was split down the middle, fixed to a pole and dried, was very common,
though preparation could be time-consuming, and meant beating the dried fish with a
mallet before soaking it in water. A wide range of mollusks including oysters,
mussels and scallops were eaten by coastal and river-dwelling populations, and
freshwater crayfish were seen as a desirable alternative to meat during fish days.
Compared to meat, fish was much more expensive for inland populations, especially
in Central Europe, and therefore not an option for most.
Modern knowledge of the reproductive cycles of aquatic species has led to the
development of hatcheries and improved techniques of fish farming and aquaculture.
Better understanding of the hazards of eating raw and undercooked fish and shellfish
has led to improved preservation methods and processing.
2.2.1 Processing
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Fish is a highly perishable product. The fishy smell of dead fish is due to the
breakdown of amino acids into biogenic amines and ammonia.
Live food fish are often transported in tanks at high expense for an international
market that prefers its seafood killed immediately before it is cooked. This process
originally was started by Lind eye. Delivery of live fish without water is also being
explored. While some seafood restaurants keep live fish in aquaria for display
purposes or for cultural beliefs, the majority of live fish are kept for dining customers.
The live food fish trade in Hong Kong, for example, is estimated to have driven
imports of live food fish to more than 15,000 tonnes in 2000. Worldwide sales that
year were estimated at US$400 million, according to the World Resources Institute.
If the cool chain has not been adhered to correctly, food products generally decay and
become harmful before the validity date printed on the package. As the potential harm
for a consumer when eating rotten fish is much larger than for example with dairy
products, the U.S. Food and Drug Administration (FDA) has introduced regulation in
the USA requiring the use of a time temperature indicator on certain fresh chilled
seafood products.
Fresh fish is a highly perishable food product, so it must be eaten promptly or
discarded; it can be kept for only a short time. In many countries, fresh fish
are filleted and displayed for sale on a bed of crushed ice or refrigerated. Fresh fish is
most commonly found near bodies of water, but the advent of
refrigerated train and truck transportation has made fresh fish more widely available
inland.
Long term preservation of fish is accomplished in a variety of ways. The oldest and
still most widely used techniques are drying and salting. Desiccation is commonly
used to preserve fish such as cod. Partial drying and salting is popular for the
preservation of fish like herring and mackerel. Fish such as salmon, tuna,
and herring are cooked and canned. Most fish are filleted prior to canning, but some
small fish are only decapitated and gutted prior to canning.
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2.2.2 Consumption
Seafood is consumed all over the world; it provides the world's prime source of high-
quality protein: 14–16% of the animal protein consumed worldwide; over one billion
people rely on seafood as their primary source of animal protein. Fish is among the
most common food allergens.
Iceland, Japan, and Portugal are the greatest consumers of seafood per capita in the
world.
The UK Food Standards Agency recommends that at least two portions of seafood
should be consumed each week, one of which should be oil-rich. There are over 100
different types of seafood available around the coast of the UK.
Oil-rich fish such as mackerel or herring are rich in long chain Omega-3 oils. These
oils are found in every cell of the human body, and are required for human biological
functions such as brain functionality.
Whitefish such as haddock and cod are very low in fat and calories which, combined
with oily fish rich in Omega-3 such as mackerel, sardines,
fresh tuna, salmon and trout, can help to protect against coronary heart disease, as well
as helping to develop strong bones and teeth.
Shellfish are particularly rich in zinc, which is essential for healthy skin and muscles
as well as fertility. Casanova reputedly ate 50 oysters a day.
2.2.3 Sustainability
Research into population trends of various species of seafood is pointing to a global
collapse of seafood species by 2048. Such a collapse would occur due to pollution and
overfishing, threatening oceanic ecosystems, according to some researchers.
A major international scientific study released in November 2006 in the
journal Science found that about one-third of all fishing stocks worldwide have
collapsed and that if current trends continue all fish stocks worldwide will collapse
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within fifty years. In July 2009, Boris Worm of Dalhousie University, the author of
the November 2006 study in Science, co-authored an update on the state of the world's
fisheries with one of the original study's critics, Ray Hilborn of the University of
Washington at Seattle. The new study found that through good fisheries management
techniques even depleted fish stocks can be revived and made commercially viable
again.
The FAO State of World Fisheries and Aquaculture 2004 report estimates that in
2003, of the main fish stocks or groups of resources for which assessment information
is available, "approximately one-quarter were overexploited, depleted or recovering
from depletion (16%, 7% and 1% respectively) and needed rebuilding."
The National Fisheries Institute, a trade advocacy group representing the United States
seafood industry, disagree. They claim that currently observed declines in fish
population are due to natural fluctuations and that enhanced technologies will
eventually alleviate whatever impact humanity is having on oceanic life.
2.3 Global Scenario
Seafood is one of the world’s most highly traded food commodities. Millions of
people work in the seafood industry, contributing to local, regional and global trade on
a massive scale and maintaining livelihoods, earnings and employment. It's not just
about fishing. Seafood-related jobs include processing, packing, transport, retail and
restaurants. Through these diverse businesses, the seafood economy generates
financial security for individuals and a valuable source of GDP. The global population
is growing, and with it, the demand for food, including seafood is also increasing.
According to the World Bank, it is expected that by 2030, 70 percent of the demand
for fish and seafood will come from the APAC region. The Global Fish and Seafood
market is growing at a steady pace and is expected to witness CAGRs of 4.16 percent
and 3.48 percent in terms of revenue and volume.
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2.3.1 The value of the global seafood industry
According to the United Nations Food and Agriculture Organization the State of
World Fisheries and Aquaculture 2014 report:
The export value of world trade in fish was US$129.2 billion in 2012.For developing
countries fishery net-export value is higher than that of rice, coffee, sugar and tea
combined.
Around 10-12% of the world's population rely on fisheries and aquaculture for their
livelihoods.
In 2012 over 50% of seafood traded worldwide came from developing countries.
Fish exports are a valuable source of foreign exchange for many developing countries.
Globally, developing countries are net exporters of fishery products.
1. The Seafood Industry in United States
A wide variety of seafood products are available in the U.S. marketplace from many
different sources. In the U.S., wild fish and shellfish are harvested by commercial
fishermen in both near shore and open ocean waters, and in fresh water lakes or rivers.
Farm raised (aquaculture) seafood products are raised both on land in ponds (catfish),
or re-circulating tanks (tilapia and hybrid bass), and in near shore coastal waters
(salmon and shellfish). These same methods are used to farm a wide variety of fish
and shellfish in other countries around the world which are then imported into the U.S.
Once seafood products are harvested, they are generally processed or packaged for
distribution to retail stores and restaurants. Wild fish and shellfish are unloaded from
harvest vessels and farmed products are harvested from facilities then transported and
packed for distribution to processing plants or wholesalers. Processors convert the
whole fish or shellfish to various other product forms such as fresh fish fillets or
steaks or other items such as frozen products, breaded fish portions, and canned or
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smoked products. Some of these products may be further converted by secondary
processors to heat and serve or ready-to-eat products like seafood salads, entrees or
other items. Wholesalers and foodservice distributors receive both raw and processed
products from many different domestic and foreign sources and distribute them to
retail stores and restaurants. Consumers purchase these products from retail stores for
home consumption or at restaurants and other foodservice establishments.
1.1 U.S. Commercial Fisheries
Commercial fishery landings of edible fish and shellfish were 6.5 billion pounds in
2010. Over 80% of the total commercial catch was finfish, but shellfish represented
more than 50% of the total value. The major fish and shellfish species harvested by
U.S. fishermen ranked by both volume and value are provided in the tables on this
page.
Over 50% of all U.S. landings were fish caught by trawlers in the Pacific Ocean
including ground fish like Pacific cod, flounders, hake, ocean perch, Alaska Pollock,
and rockfishes. Other important commercial Pacific Ocean species are salmon,
halibut, Dungeness, King and Snow crab, tuna, and squid. In the Atlantic Ocean, some
of the most economically important species include: scallops, lobster, clams, blue
crab, oysters, and herring. Shrimp is an important fishery in the Gulf of Mexico and
South Atlantic. Another important fishery is ground fish species caught by trawlers in
the North Atlantic from Chesapeake Bay through New England that include:
butterfish, Atlantic cod, cusk, haddock, hake, ocean perch, and Atlantic Pollock. A
variety of finfish species such as tuna, flounder, grouper, snapper and other reef fish
are important fisheries in the South Atlantic and Gulf of Mexico. The menhaden
fishery in the Mid-Atlantic and Gulf of Mexico is also important, but is not used for
human food but for bait or conversion to fish oil and fish meal that is used in a variety
of products.
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1.2 U.S. Aquaculture Production
The production of farm raised fish and shellfish in 2009 was about 725 million pounds
worth $1.2 billion. In the United States, the amount of fish and shellfish harvested
from the wild annually is about 8 times greater than the amount produced by domestic
aquaculture farms. Pond raised catfish represents about two thirds of the total farm
raised seafood products produced annually in the U.S. Other important domestically
produced aquaculture food products in order of the quantity produced include: