VALUE CHAIN MANAGEMENT: A PROACTIVE STRATEGIC APPROACH TO GO SUCCESSFULLY IN THE INTERNATIONAL MARKET FOR THE SHRIMP PROCESSING INDUSTRY OF BANGLADESH

Abstract

This is a study of exploring a prospective strategy for Bangladesh shrimp processing industry with a view to meeting the challenges that have been posed in the international market by other foreign marketers in the same trade. Shrimp processing and export has been accepted as an industry for a very long time in the economy of Bangladesh. Due to its immense contribution to the economic development of the country, the industry has already exerted itself as the second largest sector after the garments industry. The EU, USA and Japan have the greatest potential for growth of market share for the Bangladesh shrimp industry. The shrimp processing industry and its total value network is beset by various problems. These problems have been piling up since the inception of the industry. Industry is suffering from lack of professional outlook and quality continuity which have not yet developed to capture the long-term business gain. Sufficient supply of shrimp fry and higher productivity per acre need to be ensured in collaboration with technical experts. Sharing the experiences and the strengths of different parties along the value-network of the industry need to be aligned, so as to work as an integrated single entity for the shared objectives. They have complementary resources and experiences and strengths, which are important to each other to be competitive in the international market. Shared Cultural Practice among the strategic partners is the single most important prerequisite to implement virtual integration through strategic alliance for successful value-chain management (VCM).