Monday, May 25, 2020

Policies, Processes, and Methods of Operations Management...

Policies, Processes, and Methods of Operations Management at Harley-Davidson Motor Company September, 2012 Introduction The role of operations management (OM) requires a great deal of responsibility. No matter the size or type of business, the technique and knowledge applied by an operations manager when planning, organizing, staffing, leading and controlling, can make or break a company (Heizer Render, 2011). Harley-Davidson Motor Company is a prime example of a goods producing organization with a history of unstable performance and successful achievements all affected by OM role. The following paper is an overview pertaining to policies, processes, and methods of OM at Harley-Davidson and acknowledgment of how todays’ OM†¦show more content†¦Performance Improvement of the Supply Chain Not long ago HD’s supply-chain was an imbalance of separate departments not focusing on their core competencies. Engineers were hiring suppliers when they should have been designing and while production was jeopardized by suppliers unable to meet commercial demand. Not only were purchasing and inventory costs increased as result of inadequacies but operations went from 11% of revenue in 1990 to 17.7% in 1993 (Klamath, 2008). Recognizing the downward spiral, Harley switched to an integrated purchasing program complete with knowledgeable buyers, e-procurement, and strengthened supplier relationships. As of 1990, HD reduced an excessive 3,000 MRO suppliers to a concentrated group of 3 and hired a critical group of OEM suppliers for 80% of its purchases (Kamath, 2008). Consciously eliminating suppliers has significantly improved cost, quality and timing. Maintaining Competitive Advantage Harley-Davidson does not compete on cost because a Harley almost always costs more than a competitors model. Instead, HD’s competitive advantage based on value and differentiation. Described by Heizer and Render (2011), differentiation is a product or services’ ability to achieve above expected characteristics and elevate overall consumer value be it through convenience, features and / orShow MoreRelatedStrategic Fr5410 Words   |  22 Pages1. Historically, how did Harley-Davidson manage to dominate the U.S. motorcycle industry? Starting in the 1970s Harley-Davidson got into trouble; what changed? 2. What were the major ingredients of Harley-Davidson’s transformation process and what is your evaluation of that process? 3. As at the time of the case study, evaluate the sources of Harley-Davidson’s competitive advantage and their sustainability? If you were leading Honda, where do you assess Harley-Davidson as being vulnerable? 4.Read MoreHarley Davidson7001 Words   |  29 PagesHARLEY-DAVIDSON INC. INTRODUCTION Harley Davidson is one of the largest manufacturers in the United States. It has become a major leader in the Industry for creating the heavyweight motorcycle that has been designed for â€Å"cruising on the highway.† (http://en.wikipedia.org). In this paper we will discuss how the heavyweight motorcycle market has become an important asset to the industry. We will include the major strategies that have been established and the breakdown of the manufacturing processRead MoreHarley Davidson6082 Words   |  25 Pagesï » ¿Strategic Management ASSIGNMENT 1 Academic Report – Harley-Davidson WORD COUNT: 5492 Main Body: 3300 Appendix: 2192 TABLE OF CONTENTS 1.0 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦..3 2.0 Business Level Strategy ...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....3 2.1 Cost Leadership†¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..5 2.2 Differentiation Strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.......6 2.3 Focus Strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 3.0 SWOT Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 4.0 PESTLE Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.....9 5.0 CorporateRead MoreEssay on Operational Effectivess4120 Words   |  17 Pagesperformance measurement and management system which deals with enhancing the performance of individuals or operations in a company, may it be a manufacturing or a non- manufacturing company. Performance measurement (PM) is a useful tool that helps the company reach its goals, and goals are straightforwardly described by Goldratt as, â€Å"the goal of a firm is to make money’, and without the right performance of individuals and operations, it cannot reach its goals. (TXTBK OPERATIONS MGT FOR COMPETITIVE EDGE)Read MoreA Summary On Operations Management3773 Words   |  16 Pages Just in Time Operations Management-2 Project â€Æ' Table of Contents EXECUTIVE SUMMARY 2 JIT INTRODUCTION 2 JIT ELEMENTS 2 Positive attitude towards workforce 3 Use of modern computers and automation 3 Customer Awareness 4 GOAL AND BENEFITS OF JUST IN TIME 4 LIMITATION AND DISADVANTAGES 4 JIT PHILOSOPHY 5 IMPLEMENTATION OF JIT 6 METHODOLOGY 6 Reduction of Set-up time 6 Reduction of lot sizes 6 Implementation of Group technology process 7 EXAMPLES FOR SUCCESSFUL IMPLEMENTATION OF JIT 7 Toyota 7 DellRead MoreA Study Of Key Operations Management2397 Words   |  10 Pages Naseim Meah 12415675 Supply Chain Operations Management BUS3008 A study of key operations MGT concepts Tim Peacock 08/12/2014 2,377 Word Count Introduction In this assignment I will define, compare and contrast the management concepts and outline how they are similar and how they interrelate with each other. I will also outline how the concepts will help an organisation improve its business processes. The four concepts I will be using in this assignment will be as follows: †¢ Just in TimeRead MoreAlternative Terms For Jit Manufacturing Essay1458 Words   |  6 Pagesdifficult for industry to finance the big-batch, large inventory production methods common elsewhere. 2. Japan lacked space to build big factories loaded with inventory. 3. The Japanese islands were (and are) lacking in natural resources with which to build products. 4. Japan had high unemployment, which meant that labor efficiency methods were not an obvious pathway to industrial success. Thus the Japanese leaned out their processes. They built smaller factories . . . in which the only materials housedRead MoreOrganization Restructuring26680 Words   |  107 Pagesindividuals have used this intervention? Exemplary case studies are reported where available. 6. HOW/WHEN WILL OUTCOMES BE ASSESSED: How has the intervention been evaluated? 7. CHARACTERISTICS OF TYPICAL PARTICIPANTS: CEO, upper or lower management, new hires, blue collar, education level, etc., of typical participants are reported. 8. TIME-FRAME OF THE INTERVENTION ITSELF: How long does the intervention take? 9. TIME-FRAME OF ANTICIPATED CHANGE: When should results be observed? Read MoreTeaching Notes Robert Grant - Strategy 4th Edition51665 Words   |  207 PagesDutch/Shell Group 70 8 Harley-Davidson, Inc., January 2001 77 9 Online Broking Strategies: Merrill Lynch, Charles Schwab and E*Trade 83 10 11 12 Emi and the CT Scanner [A] [B] 88 Rivalry in Video Games 98 Birds Eye and the UK Frozen Food Industry 109 1 CONTENTS 13 14 15 16 Euro Disney: From Dream to Nightmare, 1987–94 116 Richard Branson and the Virgin Group of Companies in 2002 125 General Electric: Life After Jack 131 AES Corporation: Rewriting the Rules of Management 139 2 Introduction Read MoreMarketing Mistakes and Successes175322 Words   |  702 PagesHewlett-Packard, Newell Rubbermaid, DaimlerChrysler, Kmart/Sears, Harley-Davidson, Boeing/Airbus, Merck, Boston Beer, Firestone/Ford, Southwest, MetLife, Borden, United Way, Vanguard, Continental, Euro Disney Distribution Nike, Coke/Pepsi, Newell Rubbermaid, Harley-Davidson, Vanguard, Starbucks, Kmart/Sears, Hewlett-Packard, Dell Promotion Nike, Coke/Pepsi, Maytag, Vanguard, Merck, Boston Beer, Kmart/Sears, Harley-Davidson, Borden, MetLife, HewlettPackard, Southwest Air, Google, Starbucks

Thursday, May 14, 2020

The Power of the Internet Essay - 1307 Words

The Power of the Internet The area of technology in todays society that is expanding without bound is the Internet. Millions of people belong to the online world full of articles, shops, the latest news, virtual communities, etc. If a person needs information or directions the fastest and most successful place to turn is online. For example the quote, You can get anything you want with a click of a mouse, has become the motto for modern day America. Inside the virtual world are millions of groups and organizations built to interest people who share common ideas, values, and goals. The Internet groups, commonly refereed to as communities, appeal to a certain aspect of everyones lives. Finding a community that someone feels†¦show more content†¦On the other hand there is the Internet, a broad expanding industry full of diversity and life. The Internet is growing so rapidly that everyone wants to be a part of it. Amy Bruckman explains that the Net is made up of hundreds of thousands of separate communit ies, each with its own special character. (171) As more people join the Internet community diversity rises and the ability to find people who share similar interests becomes more likely. The Net is represented in numerous aspects of everyday life for many people such as in business, movies, television, and in the press. For example, during the Super Bowl every other advertisement was for the Internet company accenture. Also, in the movie The Net, with Sandra Bullock, the Internet had to do with the entire plot of the movie. We continue to see an abundance of advertisements and references to dot COM communities everywhere we turn. More and more in todays society, the Internet is taking a foothold, becoming a major part of the twenty-first century. The Internet surrounds Americans as well as others around the world causing special interests communities to become increasingly popular. With such a large audience some people decided to use it to their advantage. As mentioned earlier,Show MoreRelatedThe Power Of The Internet1965 Words   |  8 Pagesto be positive, so they dont generally talk about positive customer experiences unless it was something truly exceptional. But, if they had a negative experience, they probably told about twenty people. This ratio is already bad, but the power of the internet magnifies this problem tremendously. These days, an unhappy customer may repeat their negative story twenty different times online via social media and other avenues. Depending upon where they complain and how many connections they have, thisRead MoreThe Power Of The Internet1472 Words   |  6 PagesThe Internet was developed during the 1970s by the Department of Defense. Originally it was used as a military tactic until advisers suggested that it could be used to their advantage because they would be able to operate one computer from another station. The Internet remained under government control until 1984. Scientists also used the Internet to talk to each other; but the main problem was speed. Since this was new technology they had to figure out a way to make computers do more in less timeRead MoreEssay on The Power of the Internet970 Words   |  4 PagesThe Power of the Internet The Power of the Internet has literally taken over the way society goes on about everyday life. It has impacted on American youth more than anything, but this impact is not necessarily positive. Some sites are educational, while others are filled with sex, drugs, and racist material. There was a time when kids were safe studying in their bedrooms, but now, if a computer and modem are present, leaving them alone in their bed rooms can be as risky as leaving themRead MoreThe Power Of The Internet Essay542 Words   |  3 PagesThe Power Of The Internet 1) Although some people may not be aware of the power the Internet holds upon us, it is essential that all users are aware of the dangers which lurk beyond the flashing text and fancy web pages. The term WWW means World Wide Web which is literally what the Internet is, as it is a way in which we are connected with the rest of the world and also to what is going on throughout the minds of certain individuals and governments. The Web thatRead MorePower Of The Internet And Our Dependence On It1184 Words   |  5 PagesJeff Lehrman Professor Swanson English 1A 8 March 2015 Power of the Internet and Our Dependence on it. Google it. E-mail it to me. It s on the Wiki page. All phrases our generations youth find synonymous with looking up or sending information. The ability to retrieve quick facts and brief tutorials have displaced the need to research a subject or practice a skill. Any need to spend a night reading an instruction manual has been replaced by a short 5 minute tutorial on youtube. Buying or RentingRead MoreEssay on The Internet and the Power of E-Commerce1373 Words   |  6 PagesThe Power of E-Commerce The Industrial Revolution changed the face of the business world. In much the same way the Internet Revolution has changed the business world; its impact has ricocheted to every corner of the world. The internet revolution gave birth to an electronic economy. Ecommerce has seen tremendous growth in the last years, its effects are countless. Ecommerce has allowed for the expansion and proliferation of a globalized economy, it has made transactions easier and more efficientRead MoreEssay on The Power of the internet and Social Media2525 Words   |  11 Pages Contemporary social movements such as Arab Spring and Kony 2012 use the Internet and social media as potential tools towards change. But why are some more successful than others. This paper argues that when news outlets see the potential for change, they â€Å"premediate† (Richard Grusin) its possibilities, and make that change ever more possible in their coverage. On the other hand, extant stories that are more reactionary do not get the same amount of new exposure, and remain static. In otherRead MoreNo Bargaining Power And The Internet Boom Of The 1980 S1781 Words   |  8 Pages â€Æ' Since the software and Internet boom of the 1980’s, there has been the existence of click-on, (aka click-through, click-on license, or click-wrap agreement), End User License Agreements (EULA) and Terms of Service (TOS) contracts. These contracts require the user to give assent to â€Å"lease† the program or website by clicking on an† I agree† or â€Å"I disagree† button which either confirms that the user has read the EULA or TOS and is giving assent to those terms, or is rejecting those terms and thereforeRead More Essay on Internet Privacy - Carnivore, and the Power Of FBI Surveillance1755 Words   |  8 PagesCarnivore: The Power Of FBI Surveillance      Ã‚  Ã‚   Abstract:   This paper provides an analysis of the privacy issues associated with governmental Internet surveillance, with a focus on the recently disclosed FBI tool known as Carnivore. It concludes that, while some system of surveillance is necessary, more mechanisms to prevent abuse of privacy must exist.    Communication surveillance has been a controversial issue in the US since the 1920s, when the Supreme Court deemed unwarranted wiretapsRead MoreEssay about The Power of the Internet and Women’s Rights in Guatemala2056 Words   |  9 Pagesdigital media technologies, such as the Internet, the public has more choices and opportunities to communicate with people globally. As Bill Gates proclaimed, â€Å"the Internet is becoming the town square for the global village of tomorrow.† Media can determine the tremendous role its play in not only our daily lives but also its profound impact on modern society’s cognitive perception of the world. The initial proposal for this paper is to answer how the Internet transforms Guatemalan society as well

Wednesday, May 6, 2020

Isla Holbox As A Cultural Destination Essay - 1218 Words

Isla Holbox Just like modern day tourists, the tourism industry has been on a steady, fast paced journey due to technological evolution. With the affordability and easy accessibility, traveling potential has greatly increased. Sometimes, it is the destination that matters along with the people you go on the voyage with. This paper will analyze Isla Holbox as a cultural destination. Isla Holbox, an island just northwest of Cancun, Mexico, has always sustained human life; the Mayans and other indigenous people of Central America and Mexico steadily populated the islands of Quintana Roo. However, During the 17th and 18th centuries Isla Holbox was pirated due to the strategic location. In 1873, European buccaneers fell in love with the beauty of Isla Holbox and decided to settle down on the island. At the end of the 19th century, Yucatan entrepreneurs began the colonization of the mainland. In the 1960’s Isla Holbox had dwindled down to a population of around 500 inhabitants; today, the the 26 mile long and .9 mile long island has around 1800 inhabitants and has a potential for tourist development. Although the ability to profit off of tourism, Isla Holbox is still not heavily toured. Tourism has become a commercial business, which has obvious benefits to the said economy, the environment and society. Often, the positive economic impacts persuade governments, companies and individuals to get involved with the development of tourism. Tourism creates jobs, both

Tuesday, May 5, 2020

Economic Impact of WSD Outbreak

Question: Discuss about the Economic Impact of WSD Outbreak. Answer: Introduction: Australian Prawn market plays a significant role in the economy as well as society of Australia. The current outbreak of White Spot Disease (WSD) has immensely affected the prawn market. Millions of prawns have been dumped in three days due to the sudden crisis of WSD. Moreover, the government has been forced to ban the import of green prawn, which has been rumored to be major cause of this outbreak. The current assessment would be focused on identifying the economic impact of this sudden outbreak of WSD on the overall Australian Prawn industry. In addition to that, this particular study would also concentrate on analyzing various economic developments occurred from this sudden crisis. The impact on the consumer as well as producer would be major focus of this study. Furthermore, the study would be able to suggest most helpful government intervention strategies for managing the market predicament. Critical Overview of the Queensland Prawn Market: The Australian Prawn farming industry is one of the most attractive and crucial livelihood for Australian people. Currently, the industry produces more than 5000 tons of prawns annually, which accounts for nearly $87.7 million. The Australian Prawn Industry is based mainly in Queensland on 12 hatcheries as well as 900 hectares of ponds. In addition to that, the Australian Prawn Industry is also noted to provide more than 300 jobs for the Australian local populace (Emery et al., 2017). Although, the prawn industry is considered as the volumetric producers, the productivity of this industry yields more than 9000 kg / hectare. The entire prawn industry is located in two major states of Australia, which are Queensland as well as New South Wales. It has been observed that environmental as well as economic contribution of the prawn farming is highly substantial to the local community. According to Guy, McIlgorm and Waterman, (2014), the Australian Prawn farming is considered as one of the largest Australian aquaculture sectors. The farmers has created the Association that addresses their issue and create the necessary linkages with related sectors including government officials, researchers, technologies, exporters, retailers, finance sector as well as infrastructure suppliers. It has been observed that the Australian Prawn market has been noted to farming three major endemic species of prawn. These prawns are mentioned below: The Black Tiger Prawn The Banana Prawn The Kuruma Prawn Despite the small size of Australian prawn farms, it leads the world market. The major reason of this advancement is continuous government investment in research and development (Gourguet et al., 2014). Currently, it has been observed through international scale of classification that majority of the Australian farms are intensive farms. Economic market analysis Extensive study of the Australian Prawn Market indicates that the prawn market is perfectly competitive market. According to the traditional sense the perfect market is the structure where every firm operates their business by selling identical products (Johns et al., 2016). In addition, in the perfectly competitive market the firms are noted to be price takers instead of controller of market price of their product. The firms in the perfectly competitive market also observed to have very small market share. In addition to that, the buyers also have the necessary information regarding the product and price in the perfectly competitive market (Koschker Mst, 2016). Moreover, in the perfectly competitive market the entry and exit of new organizations are not restricted at all. There are numbers of evidence that can be produced in support of the above argument. First of all, although the prawn market has different varieties of prawn, the general consumers cannot distinguish between them. The differences between three major prawns are quite limited (Gourguet et al., 2016). At the same time, the prawn farms cannot control the price as their supply size of prawns is similar to the others and therefore can easily be considered as the price takers. In addition to that, being an equally distributed and supported industry every farm has similar size and production capabilities. Therefore, they all have relatively small market share. The price of the prawn is informed to the buyers all the time. Association plays a significant role in maintaining the communication with the customers (Rostamian, 2014). Therefore, it can be assumed that the Australian Prawn market fulfill the criteria of being perfectly competitive market. In this context, before the WSD outbreak the Prawn market was in equilibrium, as the volume of supply supported the demand quite effectively. However, after the outbreak of WSD the farm owners had to dispose large numbers of prawns. It has been identified that the amount of disposed prawns accounted for millions of dollars. The disposal of these large amount of prawns coupled with ban on prawn import has significantly increased the demand of prawn in the Australian Market, which has effectively shifted the price from equilibrium (ABC Rural, 2017). Lets assume the original equilibrium price was P1, supply curve was S1 and the quantity was Q1. The immediate stock disposal after the WSD outbreak has significantly shifted the supply curve from S1 to S2. As identified from the study that Australia produces 20000 tons of prawns whereas it used to import 30000 tons of prawns from outside. Moreover, In this context, it is evident that the disposal of 25 millions of white spotted prawns will damage the supply curve significantly (Tham Luo, 2015). It is assumed that more than half of the supply size has been decreased dramatically. Now the price has been increased from P1 to P2 after the outbreak of WSD. It has been also observed that the price of prawns is raised with an immense speed. The price hike was around $10 per kilogram within a week. The scenario has been depicted in the above figure (ABC Rural, 2017). Considering the Law of Diminishing Marginal Utility, we can identify that D (Demand) = MB (Marginal Benefit). At the same time, considering the Law of Diminishing Returns, we can discern that S (Supply) = Marginal Cost. In this context, we can confirm from the above Figure 2 that the total surplus, i.e. sum of consumer surplus and producer surplus is maximized. Therefore, we can effectively conclude that the market is still efficient as there is no deadweight loss. We can easily observe that the all perfectly competitive markets are efficient as producer surplus and consumer surplus is maximized and there is no dead weight loss (Blomquist Simula, 2015). It can be easily observed from the above figure that the consumer surplus as well as producer surplus has decreased due to the movement of supply line in the graph. The change would evidently include greater impact on the consumers and producers. In this context, lets assume price has shifted from P1 to P2. The budget line has been in tangent of the I1, i.e. the utility curve before the crisis of WSD. After the outbreak of WSD the utility curve shifted from I1 to I2. The following figure effectively shows that the budget line is in tangent of utility curve I2 in a higher price level as well as at smaller quantity of prawns (Oliveira-Castro, Cavalcanti Foxall, 2015). Therefore, it can be easily understood that the utility level of the consumers have been significant reduced due to the outbreak of the shift. The contemporary scenarios also indicate towards the fact. The stock of the prawn in Australian market has been noted to run out rapidly. It is assumed that in several days the prawn stock will be empty. It has been also identified that despite of rising prices the customers are not being able to have sufficient quantity of prawns in accordance with their satisfaction. On the other hand, if we assume that average production fixed cost is TFC and the variable cost is TVC. Then the TC (total cost) = TFC + TVC. Now as the outbreak of WSD hit the Australian market the quantity of the production dropped significantly. It has been observed that despite of investing normal production cost the output was null. The farmers had to dispose the diseased prawn so that the disease could not be spread in the market. Therefore, it can be easily assumed that the farmers have been undergone through a tremendous loss. The sources support the evidence by reporting 25 millions of loss from four major farms in Queensland (ABC Rural, 2017). Governments Intervention strategies: In this context, it has been identified that the government has a significant role in the current scenario. It is highly necessary for the government to intervene in this huge demand of prawns as well as insufficient supply. It has been identified from the above market analysis that the farmers have dealt with greater amount of loss. This kind of high loss cannot be compensated by them (Byrom, Lawley Clements, 2016). Therefore, the government needs to provide nece4ssary subsidies to the farmers so that they can minimize the loss. This kind of high amount of loss would eventually force them to stop the production which would be more catastrophic in the current situation. The lack of production will further decrease the supply and increase the demand in a significant manner. Therefore, the subsidy would be most preferred choice from the government to rejuvenate the economy once again. As identified from the above assessment study it has been observed that the lack of supply has created this kind of huge economic crisis in the Australian Prawn Market. If the supply would get normalized the demand as well as price of the prawn would get normal. Therefore, the market would get to the prior position once again. However, the Australian Government has put ban on the import of prawn from outside. The major reason of the ban is identifying the source of WSD at the first place as it was being rumored that the WSD has been came from the imported prawn. In this context, the government must seek a secure supply chain of prawn. In this aspect, government may also critically check every imported prawn for possible disease. This way the government would also ensure that any diseased prawn is not coming in Australia through the supply line. At the same time, the Australian market would get equilibrium. Conclusion: The above analysis has been quite efficient to identify the economic impact of WSD outbreak in Australian Prawn Industry. First of all, the study has provided necessary overview of the entire prawn industry in Australia. It has been disclosed that despite of the small size, the Australian prawn market is the leading market throughout the world. The study has significantly identified the nature of Australian Prawn market as perfectly competitive market. It has been also able to provide necessary justification of the argument. The study has also effective analyzed the economic impact of WSD outbreak with the help of various economics theories. These theories have been able to discern the impact of this crisis on the customers as well as producers. The study has also used relevant models to better depict the current scenario. The critical sources have been used to justify the argument at every given point of the study. In other words the study has successfully disclosed the current scen ario in a critical and precise manner. Furthermore, the study has been also able to provide necessary suggestions for the government interventions, which will help the market to attain its earlier position. Reference List: ABC Rural. (2017). Another prawn farm tests positive for white spot disease. [online] Available at: https://www.abc.net.au/news/2017-02-06/white-spot-disease-spreads-to-sixth-queensland-prawn-farm/8243640 [Accessed 7 Apr. 2017]. ABC Rural. (2017). Prawn industry in crisis mode as disease spreads. [online] Available at: https://www.abc.net.au/news/2017-01-04/prawn-virus-white-spot-disease-spreads-queensland/8161410 [Accessed 7 Apr. 2017]. ABC Rural. (2017). White spot outbreak a 'wake-up call' for Australian biosecurity, as prawn farmers blame imports. [online] Available at: https://www.abc.net.au/news/2016-12-23/qld-prawn-farmers-blame-white-spot-outbreak-on-imported-prawns/8144876 [Accessed 7 Apr. 2017]. Blomquist, S., Simula, L. (2015).Marginal deadweight loss with nonlinear budget sets. Mimeo. Byrom, D., Lawley, M., Clements, M. (2016). 13 Barriers to supply chain integration in the Australian seafood industry.A Stakeholder Approach to Managing Food: Local, National, and Global Issues, 186. Emery, T. J., Gardner, C., Hartmann, K., Cartwright, I. (2017). Incorporating economics into fisheries management frameworks in Australia.Marine Policy,77, 136-143. Gourguet, S., Thebaud, O., Dichmont, C., Jennings, S., Little, L. R., Pascoe, S., ... Doyen, L. (2014). Risk versus economic performance in a mixed fishery.Ecological Economics,99, 110-120. Gourguet, S., Thbaud, O., Jennings, S., Little, L. R., Dichmont, C. M., Pascoe, S., ... Doyen, L. (2016). The cost of co-viability in the Australian northern prawn fishery.Environmental Modeling Assessment,21(3), 371-389. Guy, J. A., McIlgorm, A., Waterman, P. (2014). Aquaculture in Regional Australia: Responding to trade externalities. A Northern NSW case study.Journal of Economic Social Policy,16(1), 115. Johns, C. M., Johns, C. M., Kimber, N., Kimber, N., Howieson, J., Howieson, J., ... Lawley, M. (2016). Evaluating the outcomes of VCA-led improvement projects: a case study of an Australian prawn fishery.British Food Journal,118(12), 2997-3011. Koschker, S., Mst, D. (2016). Perfect competition vs. strategic behaviour models to derive electricity prices and the influence of renewables on market power.OR spectrum,38(3), 661-686. Oliveira-Castro, J. M., Cavalcanti, P. R., Foxall, G. R. (2015). What do consumers maximize?.The Routledge Companion to Consumer Behavior Analysis, 202. Outbreak.gov.au. (2017). Outbreak White spot disease. [online] Available at: https://www.outbreak.gov.au/current-responses-to-outbreaks/white-spot-disease [Accessed 7 Apr. 2017]. Rostamian, H. (2014). Management strategies for controlling diseases in shrimp aquaculture. Tham, C. K., Luo, T. (2015). Quality of contributed service and market equilibrium for participatory sensing.IEEE Transactions on Mobile Computing,14(4), 829-842.