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(solved) Economics for Business PDF

   

Added on  2020-03-16

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Running head: ECONOMICS FOR BUSINESS 100ECONOMICS FOR BUSINESS 100Name of the StudentName of the UniversityAuthors Note

1ECONOMICS FOR BUSINESS 100Table of ContentsIntroduction......................................................................................................................................3Question 1........................................................................................................................................3Question 2........................................................................................................................................5Question 3........................................................................................................................................7Question 4........................................................................................................................................8Question 5........................................................................................................................................8Question 6......................................................................................................................................10Conclusion.....................................................................................................................................11Reference.......................................................................................................................................12

2ECONOMICS FOR BUSINESS 100IntroductionThe aim of this report is to analyze on the structure of dairy industry in Australia and the stagesof production to distribution of dairy products to the consumers. Australia’s dairy industry hascontinued to be one of the most vital agricultural industries that generates near about $13 billionacross the supply chain (Regulations 2013). This industry employs for more than 39000 peopleand hence improves the employment level in the nation. Australia’s dairy sector enhance incontribution to overall income and growth of this nation (Zhaoet al. 2012). Globally, the dairysector in Australia ranks fourth in terms of trade volumes and exports for over 40% of nationsmilk production. In this study, intermediate market structure involved in manufacture anddistribution of dairy products is also highlighted in this paper. Furthermore, market structureimplication in this industry is also assessed in this study. The report also elucidates on thepresent strategy adopted by Inglenook dairy farm and focuses on their opportunities or threats totheir long run profits. The recommendation on amendment of Inglenooks current strategy forlong run profit is also analyzed in this report.Question 1Analyzing the structure of Dairy Industry in Australia and production stages of dairy productsIt has been noted from recent study that there has been substantial change in structure ofAustralia’s dairy industry for over the last 20 years. Reforms have occurred in size as well asproduct mix of this nation’s dairy farms in this industry. In addition , mergers as well as takeoverhave attributed in its structural adjustments, which in turn resulted in higher ownershipconcentration in this industry. Moreover, huge reform in product mix of this industry has also

3ECONOMICS FOR BUSINESS 100taken place over the past few years. Australian Dairy Farmers (ADF) is a huge network thatsupports the dairy industry of this nation. They offer support to this industry through additionalresearch or information for helping the farms in achieving their mission. The stages involved in the production of dairy products from raw milk and marketed to finalconsumers in this nation involves:Collecting raw milk- The dairy farms in this nation uses antibiotics in order to control bacterialinfections in cows. However, this helps the farms in attaining good quality of raw milk. Storing milk- The milk is then stored in hygienic container at 4 degree centigrade and then istested for fat content.Standardization- This process involves filtration and separation of fat from milk.Pasteurization as well as homogenization- In this process, heating of milk is done at temperatureof 72 degree centigrade and is then kept for at least 15 seconds. The heat used in this processhelps in killing microorganisms or harmful bacteria.Chilling the pasteurized milk- This stage involves chilling the milk at 4 degree centigrade. Thistreatment is necessary in order to kill microorganisms that have not been destroyed.Packaging- The packaging of milk is done through laminated pouch, tin cans and plasticcontainers in order to store the product for longer period.Storing- The dairy farms stores the product at 4-7 degree centigrade by using chemical inputsnamely sanitizing agents before distribution.

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