Create a business model for sustainable fishing

Being an ocean enthusiast myself, I wanted to find a related topic for my final dissertation.

Scuba Diving is my hobby since the very first time. I have one over 120 dives in 13 different countries. Surprisingly, i have never done it in Europe, thus, i ha the chance to admire an extraordinary marine wildlife.

I am increasingly learning about sustainable ways of living together with the oceans

I want to create an impact on this matter

It’s important to me

In fact, once I’m graduated, before entering a master program, I will be volunteering for the marine conservation in different parts of the world. My first project is a bio rock coral reef restoration in Gigi Trawangan, Indonesia. There, I will rigorously learn about the ecology and the coral ecosystems in order to successfully rescue and restore endangered corals using biorock technologies as well as becoming a coral gardener.

That is to say how passionate i am about this topic.

Human civilization and wildlife have a long lasting conflict. This conflict is already affecting us and will affect even more the future generations. Thus, there is a need to change the current systems to more sustainable ones. I believe that the generations representing the next workforce will have to figure out ways to stop all kind of pollution, or even, reverse it. But the system in which we live is so well built that we have created dependencies that force us to push this pollution forward instead of stopping it. There must be a focus on stopping highly polluting activities through innovative methods and techniques.

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Seas and oceans are more affected by this conflict than ever. They are also essentials for any life on earth. This is why this paper will focus more specifically on the marine ecosystem. In other words, an approach where a business activity and the marine life work with the dependency to force each other to generate the best will be developed.

Being the most devasting industry for the oceans, the fishing industry will be used to demonstrate how a business can be developed to live along with the marine life whilst being valuable. And, assuming that new sustainable fishing techniques can be elaborated, what are they? And at what cost? These are different variables that will be develop in order to come out with the best business model.

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The oceans could run out of fish

Overfishing

Pollution – plastic – pesticides – benzine – untreated sewage

The aim objective of this document will be to analyse, discuss, and develop ways marine businesses can switch towards a more sustainable and environmentally friendly way to carry out their activities without impacting the profit they are generating. To do so, the example of a fishery will be used to determinate a new business model that benefits as much the business organization as the environment will be addressed:

In fact, there can be various methods that can help in extracting the best ocean resources while maintaining and protecting ocean life as well. Techniques, material selection, costing structure, funding strategies, profit generations are other factors that will be taken into account in order to come out with a business model that could potentially reverse the human civilization and wildlife conflict.

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Which is the best business model for a profitable organization to create value and at the same time, contribute to the protection of marine life?

A business has for goal to generate profits. So, what are the best strategies for a fishery to respect the environment whilst generating profit?

There are several areas to focus in order to switch to more sustainable fishing practices, such as innovate current techniques, capture eco-friendly marine based opportunities, but also add a business function to the actual one: a fishing boat could potentially be used to accomplish other task while fishing. Those tasks could be the depollution of the oceans through methods such as solid wastes collects, collecting samples for data analysis, or even conducting studies about the local wildlife.

If fisheries management and Marine Protected Areas are used effectively in the marine reserves, achieving economic and sustainable variables for ocean protection is possible. Failure to protect the marine areas and fishery management can lead to a loss in protecting the ocean environment.

How to reverse the pain caused to the marine environment while generating profit simultaneously?

The above hypothesis explores the relationship between the aquatic ecosystem and a profitable business.

The dependent variable is the safety of marine life and the independent variable is the maximization of profit generation. There are various business models in the fishing industry that can generate profit for the fishing business, however, it is necessary that the selection should focus on the maximization of marine life safety. The main reason is that if fishery management fails in protecting marine areas, it will end in harming the marine environment.

Marine life is endangered partially because of the increased population, industrialization, as well as the globalization. Indeed, as the population continues to increase, the climate is also changing. And climate change is one of the leading factors that endangers the oceans (Duarte et Al., 2020).

Human and business activities are exponentially increasing which is directly impacting marine life adversely. Climate is changing as result of these activities and there is a need to cope the climate change to save endangered marine life (Duarte, et al., 2020).

A study shows that the atmospheric carbon dioxide is dramatically increasing since a few decade, increasing the ocean acidification. This acidification has devastating effects on the coral bleaching, the loss of breeding grounds, and even dissolves shells and skeletons. But it is probably nothing compared to the estimated 100 million marine animals killed by plastic wastes every single year (Yanik and Aslan, 2018).

Over 50% of worldwide marine species may become extinct by the end of the century if there aren’t necessary and effective measures put in place to eradicate the threats caused by climate change (UNESCO, 2019)

An article on national geographic has reported that sustainable fishing is a method that can guarantee the safety of ocean and freshwater. It is considered that fishes and invertebrates are used as food resources because of their healthy nature and diverse cultur. Seafood is a part of this resource. Demand is also increasing for seafood: they are in fact highly popular. Additionally, they contain healthy fats and protein sources. On the other hand, with the advancement in technology, fishing practices have been increased which has led to the depletion of the fish population in the whole world. Despite the fact that technological advancement generate increasing profit this industry, it is negatively affecting the safety of the marine life, which led to the depletion of seafood. This technique is commonly called overfishing (National Geographic, 2021).

Sustainable fishing practices are meant to make people enjoy food while it also ensures the safety of seafood. This is meant to create profit for any organization implementing this model while also maintaining the fish populations and their environment simultaneously.

Fisheries management is based on communities, individuals, and nations: these communities rely on fish as a source of revenue. They cannot stop fishing unless they find an alternative. Therefore, there is a need to maintain seafood while making it the proper source of food (National Geographic, 2021).

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The right way of fishing can protect ocean wildlife. Scientific research has shown that fisheries techniques are significant because they can essentially protect marine life. Overfishing is the only way that endangers that fish species; however, right fishing can save the other wildlife in the ocean (NOAA, 2020).

Marine life endanger is being one of the major aspects to consider by the fishing industry. Hence several studies have been conducted in order to find the possible solutions that can help to reduce marine uncertainties. Along with this, ensuring the profitability and growth of the industry is also important. For this action, Bianca et al conducted research (Haas, Fleming, Haward, & McGee, 2019). The main objective to conduct the study was to focus on the role of big fishing practices on marine life. The study has been conducted with the help of qualitative research methodology. According to the research, it has been identified that the United Nation’s stability department goals play a significant role to ensure stability and eco-friendly business implications to ensure the protection of marine sources. Along with this, the results of the study mentioned that how the fishing industry can utilize the potential opportunities to harvest fishing to protect marine life. Along with this, it has been stated that fishing industries must eliminate the implementation of some particular fishing practices that are being the cause of marine life danger.

Roberto Biloslavo et al. conducted research. The major goal of their study was to analyze and examine the issues regarding the fishing industry that are being the cause of marine endanger. Along with this, the study also proposed a unique and sustainable business model for ensuring marine safety. The study highly focused on the concerns of business aspects such as innovation towards ecosystem friendly model (Biloslavo, Bagnoli, Massaro, & Cosentino, 2020). The main argument of the study was to implement eco-friendly innovative business practices in the fishing industry to ensure higher sustainability. To conduct the research, a single case study methodology has been used for empirical analysis. Along with this, semi-structured interviews supported the results of the study. Besides, the outcomes of the study supported the fact that innovative initiatives in terms of eco-friendly business practices can help to reduce marine endanger and provide great feasibility to generate higher profit.

The understanding of sustainability is very important for the fishing industry. The fishing industry is playing a significant role while it also has a divertive impact on marine life. A study has been conducted to analyze the impact of the fishing industry and factors of sustainability. The study has been conducted with the help of primary research methodology through which the factors have been identified that how the fishing industry can ensure sustainability (Veenstra, Stoop, & Hopman, 2018). The final outcomes of the study argued that with the implementation of environmentally sustainable practices in the fishing business, the fishing industry will be able to ensure the protection of marine life and higher profitability.

Eco-friendly fishing practices can be implemented in the fishing industry with the use of an ecofriendly business model. The importance of an eco-friendly business model is increasing all aspects of business sections but mostly in fishing sectors because they are threatening marine life to a great extent. A study has been conducted which influenced how the suitability of marine life can be ensured. The study has been conducted with the help of primary research methodology in which different protection measures have been discussed. The final outcomes of the study mentioned that with the help of eco technical solutions, the protection of marine life can be ensured. Along with this, it will also help in increasing and proving the developmental growth of business procedures in the fishing industry that will eventually result in increasing profitability ratios.

The Ecosystem Approach to Fisheries Management (EAFM) is a major approach that offers effective and practical means for the holistic management of fisheries. It is based on the management of target species, relevant processes, systems, and decisions. This technique works to maintain multiple objectives that can be impacted and managed by how the system is being controlled. Their main objective is to allow enough resources to harvest and sustain the fishing industry. It leads to the sustainability of the marine ecosystem (EAFM, 2021).

There are different models and tools that are designed to operationalize eco-system on the behalf of fisheries management. EAFM is able to solve the trade-off issues and represent the marine management scope as well. The major focus of this model is meant to be based on ecological and social factors linked to strategic and tactical decision-making. The evaluation model under the EAFM requires knowledge about marine life and human derives. Therefore, it links the environmental and human pressure on both ends (Fay, DePiper, Steinback, Gamble, & Jason, 2019).

Stecken and Failler have studied and presented the review of existing ecosystem modeling based on its current approaches. The article has presented three major approaches for ecosystem safety for the fisheries: EwE, ECG EM, and ECO PATH. Their review states that ECG EM is a recent one that has an original approach for its ecological pertinence, and it has been proved by the experts as well. It has fewer parameters and uses standard models for supply which makes it useable for complex situations (Stecken & Failler, 2016).

The paper is based on the mixed methodology in which both the primary and secondary research sources have been utilized to collect required data and analyze the expected results of the research question. The major factors on which the mixed research design has been selected are to collect the real-time data from primary sources such as survey questionnaires and to interpret the evidential studies from secondary sources (U.S. Department of Health & Human Services, 2020). It helped to analyze the research question in an in-depth manner. With the help of primary data collection, the factor of feasibility to collect up to date and relevant data is required to conduct the study.

Primary research methodology facilitated to access accurate and trending data points which can impact the expected outcomes of the research. With the help of primary research design, it has been easy and feasible to analyze the problem in an effective manner (Resour Cecentr, 2020). On the other hand, data collection is easy to handle in primary research methodology as compared to other research designs. Besides secondary sources helped to collect data from existing sources that can provide a potential strength to the arguments of the research outcomes. Hence, as compared to other research methodologies, mixed methodology incorporated with primary and secondary sources is time and cost-effective while it leads to expected outcomes in a more reliable manner.

To conduct the study for primary data collection, an online survey has been designed. The online survey has been provided to around 50 participants through online sources to understand the role of business and conservation of marine protection. The online survey included 6 questions to gather the related data from targeted respondents (Tools4DEV, 2020). On the other hand, for the collection of data, the target respondents were researchers, policymakers, business leaders, and professors. Each respondent was provided with designed survey questions separately and asked to fill in accordingly. The outcomes of the primary research methodology have been interconnected and analyzed with the systemic review analyzed through secondary sources. Based on the analysis of data obtained from both the secondary and primary sources, results have been interpreted

Survey Questions

1. Can ecosystem friendly business model in the fishing industry save and promote the marine environment while generating profit?

2. Can fisheries management business model in the fishing industry help to save marine life and make a profit?

3. Can sustainable fishing practices result in saving marine life and generating profit?

4. By implementing the Seachange business model, can the fishing industry save marine life and make a profit?

5. Would implementing innovative business practices help in protecting marine life and generate higher profit?

6. Can eliminating bottom trawling and longline fishing and practicing alternative techniques help in generating more profit and saving marine life?

c.1. Data Analysis

For the primary data collection, the data interpretation is mentioned below for respective survey questions.

For the implementation of ecosystem friendly business model into the fishing industry to save marine life and make a profit; 58% of researchers supported this fact. 10% support for implementing ecosystem friendly model came from business leader’s side while 23% of policymakers agreed that this model can help in protecting marine life from uncertainties. On the other hand, 9% of professors agreed on the fact that this business model can be the best fit to eliminate the negative impact of the fishing industry on marine life. By implementing this model, not only the profit ratio can be exceeded but also the sustainability of marine life can be ensured.

For improving marine life safety and increasing the profit margin of the fishing industry, with the implementation of a modified fisheries management business model, only 24% of policymakers supported the recommended solution. Besides, 16% of business leaders were agreed on the fact that it will help to protect marine life and generate high profit while 5% of the total professors responded to support this solution. 55% of researchers agreed that this business model will work out to ensure sustainability and higher profitability.

With the implementation of sustainable fishing practices to reduce marine life dangers and generate higher profit, only 14% of business leaders agreed. Besides, 32% of policymakers and 22% of professors were in support to implement this business model to protect marine life and increase profitability margin in the fishing industry. 32% of researchers agreed that this business model can sustain to achieve protection and better financial stability in the fishing industry.

For the implementation of the sea change business model, only 19% of researchers agreed. 22% of policymakers supported the recommended business model to reduce ocean endanger and to improve the profitability ratio of the fishing industry. However, 46% of professors agreed that this can be a good and supportive aspect to sustain marine life protection while 13% of business leaders accepted this business model as a supportive solution to reduce ocean endanger and improve industry profitability ratio.

The above-mentioned graphic representation demonstrates the supportive ratio for the implementation of innovative business techniques in the fishing industry to save ocean engender and higher the profitability margin. For this possible solution against the protection of marine life, only 3% of business leaders supported the fact. On the other hand, 27% of policymakers agreed that the implementation of innovative business practices in the fishing industry can help to reduce ocean endanger and generate more profit. On the other hand, 35% of professors agreed that this can be a possible supportive solution to potential issues while 35% of researchers agreed that this can help to reduce ocean endanger.

The above-mentioned chart is demonstrating a graphical representation of responses for the elimination of bottom trawling and longline fishing practices as they can help to reduce ocean endanger and cause higher profitability. 47% of policymakers agreed on the fact that it can be a good source for increasing ocean protection while 20% of researchers agreed and 11% of professors admitted that it can be a supportive business model.

The focused issues that have been selected in this paper are to introduce a business model that can be effective in terms of implementation to reduce endanger oceans. The above survey section provided different data points for different proposed business models. The basic business models that have been recommended to introduce in the fishing industry were the implementation of sustainable and innovative business practices in the fishing industry, elimination of bottom trawling, and longline fishing practices because these are being the cause of ocean endanger for marine life (Haas, Fleming, Haward, & McGee, 2019). Along with this, respondents were also provided with the recommendation of the implementation of the Seachange business model for the protection of sea life and acceptability of fisheries management business model as a possible solution to increase profit margin and reduce marine life uncertainties. For each possible business model and potential solution, the responses of the participants were highly diversified.

For the implementation of ecosystem friendly business model in the fishing industry, the majority of the researchers supported it as a solution to reduce marine endanger. About 58% of researchers accepted that implication of ecosystem friendly business model is one of the best fit models that can help in reducing ocean endanger (Johnson, 2019). Along with this, it will also be the source of higher sustainability for the fishing industry to generate higher profit and ensure the protection of marine life. Besides, the solution is also supported by 23% of policymakers. 10% of business leaders also supported the fact that to can be the best way to ensure marine protection.

Marine endanger is being one of the major issues and the role of the fishing industry is highly remarkable due to the implication of several factors of the business model. Not only the fishing practices and techniques are being the major cause of ocean endanger, but some other factors also encourage it (United Nation Foundation, 2017). Hence, in this condition, the implementation of ecosystem friendly business model is the best solution. The ecosystem-friendly business model helps not only to protect the marine life to ensure sustainability but will also ensure a higher profitability ratio.

The major component of the ecofriendly business model is the improvement of existing business practices, innovation, and technical adaptation, focus on higher probability, creating values, and ensuring the stability of natural resources. Different studies also supported the fact that ecosystem field business models are important to consider for the fishing industry (National Geographic, 2020). It can facilitate them to improve the business practices which are being the sources of higher uncertainty for marine creatures. The implementation of ecosystem friendly model can be the source of reducing the impact of the fishing industry on the marine environment. Marine sources, creatures, and nature are the main reasons for the fishing industry to make a profit and operate their business in a reputable and in-demand way.

Other grounds for selecting ecosystem friendly business model in the fishing industry to save marine life and generate higher profit can be due to its feasibility factors. An ecosystem-friendly business model helps in focusing on different aspects. By improving the internal measures, fishing industries can ensure natural sustainability (Quartey & Wells, 2020). Corporate social responsibilities help companies to work for the external aspects such as for improving environmental and social measures for higher brand image and productivity. In the same way, ecosystem friendly business model is the best fit in terms of cost, regulation, and material, funding, and generation of higher profit margin.

Different ecosystem programs are being introduced to facilitate industries to work better. On the other hand, these initiatives cannot be highly costly and separately adaptive in terms of changing the entire business model (Biloslavo, Bagnoli, Massaro, & Cosentino, 2020). On the other hand, other proposed solutions to reduce marine endanger and generate higher profit were not supported by respondents due to different reasons. Some opposed the implementation of an innovative and sustainable business model and its implementation because it will only focus on the adaptation of business practices that can ensure innovation and sustainability while another business aspect in the fishing industry will remain unchanged.

For sustaining a remarkable control to reduce marine endanger, it is important to consider several aspects and their improvement. Hence this solution was limited according to the focused respondent and secondary evidence. On the other hand improvement in the fisheries management business model was good and workplace, still it was not able to consider all the aspects which are impacting the ocean and marine life (Dijkstra, van Beukering, & Brouwer, 2021). With the implementation of this solution, management practices can be improved while it would also have a drastic impact to protect marine life. In terms of profit generation, it is a supportive solution. Still, the composition between fisheries management business and ecosystem friendly business model represents that highly supportive outcomes are for the acquisition of ecosystem business model in the fishing industry.

Besides the implementation of the sea change business model was not supported by the respondents because it can be costly in terms of material, funding, and profit generation. The fishing industry is working at a high scale among all required and operative business sectors. Being a dependent industry, it must be implemented with the solutions that can heave a productive and feasible outcome. Hence the implantation of an eco-friendly business model in the fishing industry can be the best fit to save and protect marine life and to generate higher profit.

The ecosystem friendly business model has been selected in this research so that the marine life and environment can be more secured and the profitability of businessmen is also increased and the overall revenue growth of the economy is increased. Six survey questions have been designed for this research and data is collected by the respondents so that it can be analyzed which model is more environmentally friendly and which has an impact on the community.

This model has supported the fishing industry and focuses on promoting the fishing industry. For the promotion of the industry, the facilities must be provided to the businessmen so that they can promote this business. It has an ultimate impact on the performance of fish farms and marine life can be more secured (Christensen, 2017). There is a great need for financial resources for this business model. The data was collected by the people to analyze this aspect. The results have shown that there are great chances of profitability if this model is applied and it not only ensures profitability but also focuses on the importance of marine life.

For the fisheries management business model, only a few policymakers have supported it. There are many reasons for the implications of this model as it is costly. It is difficult for the government to provide enough budget for this model and the results are also not according to the expectations because the protection of marine life should be a priority (Robert, 1978). According to the results of the survey, only 24% of the policymakers have supported this model as the chances of profitability are less as compared to the ecosystem friendly business model.

According to this research, 16% of business leaders have supported this model and according to them, the future implications of this model are more secure and it will have a great impact on marine life. The results of the survey have ensured that this model can be used for sustainability and higher profitability if the resources are available by the government because, in this way, the total expenditures will be controlled. It will ultimately have a positive impact on revenue generation. This solution has positive impacts but it is highly dependent upon the environment and management of activities because if there is any lacking in the activity management, then the chances of profitability will be reduced.

This model is specifically designed for fishing practices that can help to save marine life and ensure profitability. However, there is a need for highly experienced employees and staff who will practice these activities so that the chances of loss of fish industry is reduced. These management teams will be able to perform the activities according to their specific skills but it will cost high as compared to the profits (Hanson, 2017). According to the survey results, only 14% of business leaders have agreed upon this that this policy is beneficial for saving marine life.

Policymakers and professors have also supported it as according to them, this practice has a great impact on saving marine life and ensuring profitability. However, it has been observed that finding and training the staff for fishing practices is quite costly specifically when there is no generation of profits, i.e., end season. According to results, 32% of researchers have stated that this model can be applied for the protection and better financial stability in the fishing industry and positive outcomes can be achieved. However, there is a need to define the policies for the management and budgets so that these activities can be performed well.

The sea change business model has great influence and in previous years, great results have been achieved by this model. There is a need for high investment for this activity so that all the business activities are well managed and great results can be achieved. The survey conducted for this model explains that only 19% of researchers have agreed upon this model and according to them, this model is not long-lasting and ultimately the death of marine life occurs when the proper resources like cleanliness and management are not utilized.

The endangered species cannot survive without their environment in which the necessities like food and oxygen are provided to them so long-term solutions must be implemented to save marine life which can uplift the economy as well (Bonney, et al., 2021). The business leaders have accepted this business model and according to them the modifications can be made according to the need and desired results can be achieved. This model can be beneficial for generating profits if it is applied according to the planning.

Innovative business practices can bring higher profitability through this business, like using the latest methods of saving marine life, providing them food and other facilities so that they can survive. There should be facilities for the preservation of this marine life so that the chances of death are reduced and losses can be avoided (Ortiz, 2019). These business practices have also focused on market rates so that the sale of fish is done according to the latest trends of the market and the chances of losses are less.

The survey question has demonstrated the fact there is an element of risk in implementing these practices because there are chances of losses while implementing the new activities. 27% of policy makers were in favor of implementing the new policies as it becomes difficult to apply these activities and manage them (Hooper, 2020). So, the element of risk has reduced the application of this model widely.

The bottom trawling technique is also known as the dragging activities. These activities have risks on the safety and security of marine life and chances of death of the fish, shrimps, and turtles are increased in this method. This procedure is very expensive as well. So, it is difficult for the management teams to apply this procedure for saving marine life (Hooper, 2020). According to the survey questions, 47% of policy makers have supported this and they have agreed that this procedure can be beneficial for the safety and security of the public. 11% of professors have admitted that this procedure can be beneficial for the higher profitability and saving the marine life but they have also highlighted the fact the element of risk is higher in this procedure. So, if elimination is done, then security chances can be higher.

The survey questions have focused on the implementation of business models which are beneficial for the safety and security of marine life and the profitability of the business sectors can also be increased through these procedures (Bonney, et al., 2021). However, it is necessary to create and spread awareness of the safety of marine life so that people are more focused on the safety of marine life. Most of the species are becoming endangered due to the carelessness of the citizens. Although all these models have some significance the most respondents have focused on the ecosystem friendly business model in the fishing industry as in this model every aspect of the security of fishing is secured. The generation of profitability is also higher through the implementation of this model and long term targets can be achieved.

It is concluded that the purpose of this research was to focus on the business model which can provide safety to marine life and also ensure profitability in the longer run. The fishing and marine industry has great scope in today’s business world. This business can flourish if importance is given to the business activities and marine life is saved. The survey questions were developed for this research so that it can be analyzed that which procedure has great influence and which can be used by the economies to generate higher profitability in the longer run.

Literature has shown that the securing of marine life has had a great impact on the economies over the years. The fishing industry is flourishing in these years so it is necessary to provide facilities to this sector so that the profitability is increased. The mixed methodology has been used in this research so that the results are more general and the significance of this research is increased. For the deep investigation of these models, it was necessary to analyze all the aspects which affect the profitability and security of marine life. The data collection has been done through online means so that it is convenient and research can be completed on time.

The results have shown that the ecosystem-friendly business model has a higher chance of portability and it is beneficial for saving marine life. However, there is a need for investment at the initial stages and it must be provided by the sponsors and the government. There is no harm to the ecosystem to the marine life because in the natural environment the chances of growth of marine life are higher and they are more secure. The endangered species can be safe and their population can be increased if facilities are provided to them.

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Can fisheries management business model in fishing industry help to save marine life and making profit?

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Researches Professors Business Leadrers Policy Makers 5.2 0.5 1.5 2.2000000000000002

Can sustainable fishing practices result in saving marine life and generating profit?

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Researches Professors Business Leadrers Policy Makers 3.2 2.2000000000000002 1.4 3.2

By implementing Sea change business model, can fishing industry save marine life and make profit?

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Researches Professors Business Leadrers Policy Makers 2.2000000000000002 5.2 1.5 2.5

Would implementing innovative business practices help in protecting marine life and generate higher profit?

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Researches Professors Business Leadrers Policy Makers 4.2 4.2 0.4 3.2

Can eliminating bottom trawling and longline fishing and practicing alternative techniques help in generating more profit and save marine life?

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Researches Professors Business Leadrers Policy Makers 2.2000000000000002 1.2 2.4 5.2

Can ecosystem friendly business model in fishing industry save and promote the marine environment while generating profit?

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Researches Professors Business Leadrers Policy Makers 8.1999999999999993 1.2 1.4 3.2

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