Introduction

The context of trading Fish has a great hold over the socio-political and economic infrastructure of Britain. Its proceedings are much developed through various management structures.  In Britain Organizations are basically concerned about the fishing trade, in order to make enormous profit. The trade in fish market and the business related to fish products of European Union has got bigger target markets and Britain has got the major hold by the inclusion of England, Scotland, and Wales.

This paper provides the risks that might occur in this particular business affecting the economic and the trade and commerce scenario of the EU as a whole and Britain in particular.

Risk Analysis

Risk analysis in reference to the fish trade gets identified through the technique of assessing various factors that has turned or might turn jeopardize in the process of success this particular trade. As for instance the consequences followed by global warming and regular flood in Britain has got a great impact over this trade. By means of identifying these factors all the related risks to this business can be assessed. Risk analysis will help to identify and define the possible preventive measures, in order to reduce the probable consequences that might bring in losses to the trade. It will help in identifying relative countermeasures to gain successful deals with upcoming constraints.

Application of FRAP or the Facilitated Risk Analysis Process in case of the fish trade in Britain helps in determining the risks that involves in the trade. It is through this methodology that the trade owners can analyzes various risks in various determined time span. As declared by Messerschmitt and Szyperski (2004) FRAP helps in assuming all those additional efforts that can help in developing quantified risks. They hold the notion that these risks are not cost effective as they help in:

  • estimating the total time to be consumed in managing the probable risk
  • risk documentation for the purpose of being voluminous for effective practical use
  • specific estimation of losses for identifying the determined controls that are needed.

Managing Risks

By the application of FRAP in the fish trade of Britain the possible risks can be noted as follows;

  • Lowering of fishes in quantity and quality due to global warming and climate change (Arnell, 1998)
  • Increasing number of illegal fishing business due to the regulations led under Free Trade
  • Regular floods can lower down the trade by less supply of quality products
  • Disinterested of other traders in the market due to security reasons like suicidal bombings
  • Application of marketing strategies by beef, lamb and chicken traders against fish traders

The fish trade in Britain is no doubt under a great pressure of achieving success. It is making large profits and lots of traders are into the business. The economy of Britain too depends a lot in the development of fish trade and thus need sot check out the mentioned risks. There are possibilities that due to lack of proper marketing and management strategies, the fish business run at severe loss. However with the increase demand of trade it is necessary that the risks are prevented with precautionary measures.

These are some of the upcoming risk that the fishing trade of Britain can face and consecutively can run into losses. These risks are obvious if not handled beforehand. On time preventions can well manage these risks and thus are preferred by the traders. The participation of the legislature and the environmental associations too is integral in the management of these risks. As declared by Fish Trade in Britain (2007); in his field the cooperation forwarded by European Union is very necessary. It is through the persuasion of EU that the trade can gain more profitable ranges in the international market. By encouraging trade with other countries EU can actually help in obtaining proper strategic plans for this particular trade.

Strategic Planning Process

For the purpose of planning the risk management process the cooperation of EU is important. There is the need for political and legal persuasion in the promotion of the trade. Support from the financial departments and economic institutions need to be approached for proper risk management factors in case of any hardship. These need to be managed by means of assessing competitive risk assessment in relation. Emphasis should be provided in the field of taxation and the possibilities of double taxation risks. The legislative proceedings added by legal financial supports are some of the peripheries that need to be managed by the traders.

Implementation of 4Ps in the supply side model is very necessary for managing market risks. These 4Ps take care of product, price, place, promotion under the strategic planning of marketing dealings (Menon, et al. 1999). By the implementation of these 4Ps the-

Product, that is fish and fish products can have relevant

Solution

Promotion of marketing communication can lead the trade through

Information

Price needs to get determined as per the demand and supply providing

Value

Placement is related to the international trading facilities, providing 

Access

Appropriate distribution and adequate supply chain risks should be maintained. Understanding of social and cultural demands will help in maintaining the possible risk that might come from these domains. Most of these domains are however can be understood and thereby maintained through the surveys taken over during the persuasion of marketing communication. Apart from the understanding of local social and cultural demands the international demands too are necessary for the growth of the trade. These can be attained by the application and involvement of professionals from the ICT domain. It is through the cyber communication, along with information technology that the expansion of the marketing horizon can be made possible. On the vice the possible risks of the international market too can be managed through the same source. Application of SWOT analysis to the trade will add additional structure to the business and that will make the companies lay importance towards the upcoming risks that might prevail. The application of SWOT will help in understanding the Strength, Weakness, Opportunity and Threats of the trade. These are the domains that can prevent the trade from coming under any serious risk.

The management in the field of meeting environmental challenges needs persuasions made by the potential implications of management of research based water resource dominance of Britain. Assessments related to ground water and river flows needs to be well understood before planning the marketing strategies.

Conclusion

It can be thus well concluded that the marketing management for the fish trade in Britain needs some specific concerns related to the management of upcoming situations. There are possibilities that though the trade is flourishing in its best mode, yet there are possibilities that it might come under the pressure of risk and can face some hurdles in the future. There is the need for preventing such circumstances and professional participation in indulging some of the upgrade structure to the whole trading business. In order to have a well planned management structure for the fish trade the companies must have the socio-political and environmental risks management structures. 

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