Sharks are extremely diverse and occupy multiple levels within the food chain, requiring different approaches and considerations for effective management. Marine food webs are highly complex and interconnected, it can be difficult to predict what will happen if some shark species disappear. Many of the shark species being impacted by humans are apex predators, which means they are at the ‘top’ of the food chain and play a key role in how an ecosystem operates. If they are removed it can have a cascade-like effect across the whole marine ecosystem; the very function of the ecosystem can change (Bascompte et al., 2005). The decline of shark populations can have severe consequences for the ecosystem function as well as the coastal communities that rely on them (Jaiteh et al., 2016). Many of these communities have fished for sharks over generations and these fish remain a vital source of protein and nutrition, as well as employment (Simpfendorfer et al., 2021). Ecosystem-based management and conservation focus on preserving the entire ecosystem's function, habitat, and inhabitants. The creation of Marine Protected Areas (MPA) is a modern ecological approach to ecosystem-based management that helps to protect the community as a whole. Many MPA’s are considered no-take areas that prohibit fishing and commercial harvest of species from them this helps provide a haven for marine species. Some of these areas have been termed shark sanctuaries that are created to protect migratory sharks or residential sharks, commonly located within coral reef systems (Ferretti et al., 2018).

 Economic aspects of shark fisheries management are important for addressing global shark fin trades and finding alternative income from shark products. Ecotourism is a growing area of economic development that makes charismatic animals such as sharks more valuable to protect than to pillage. The estimated annual value to the tourism industry of an individual reef shark was US$1.9 million over its lifetime. In contrast, a single reef shark would only bring an estimated US$108 after being killed (PEW, 2011). Adding a numerical value to these animals is one way to provide a personal and economic incentive for protecting sharks and show their worth in a way that people can better understand (Iwane et al., 2021). However, to more successfully transition to more sustainable practice public involvement in decisions and cooperation with environmentally minded choices is critical (Simpfendorfer et al., 2021). In addition to these approaches including education on sustainability to the public, and integrating indigenous practice into management strategies are also important aspects of sustainable fisheries (Acuña-Marrero et al., 2018).