We’ve all heard it before, but we’ll say it again, “there are plenty of fish in the sea”.
Therefore, to become a successful tuna producer amongst competitors, it is important to consider what is occurring in the market and what information should a business provide to its stakeholders to strengthen their existing and new relationships. So, let’s dive right in!
CURRENT TRENDS
There is an increasing demand from consumers, businesses and governments for :
– Transparency, Traceability, Safety and Sustainability
This is because consumers are wanting to know more about where products comes from, and how it is being produced.
Therefore, by informing the businesses stakeholders about the production and distribution processes of the businesses can help a business establish and build trust, and create a competitive advantage.
What is trust , and how can it be built ?
Trust is the underlying element of consumer confidence in a brand or product, which can be best achieved by businesses being transparent with their stakeholders.
What is Transparency ?
Transparency is the process of being open and honest about the business’s operations, for example, sharing information relating to brand performance, internal processes, sourcing, distribution, transportation and the businesses core values.
What to be transparent about ?
In the fish market it is recommended that you are transparent about:
Informing potential investors about these aspects of the businesses operations will better position your business as provides the investors with a greater level of certainty, trust and confidence.
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