Essay on Monsanto Attempts to Balance Stakeholder Interests

Summary: Monsanto Company is the world’s largest seed company. They specialize in genetic manipulation of organisms. Monsanto was founded by John E Queeny in 1901 in St. Louis, Missouri. The company’s first product was artificial sweetener. At the start of World War 1, company leader realized the growth opportunities of industrial chemicals. In 1970’s, Monsanto had produced a chemical known as Agent Orange. Agent Orange contained dioxin; a chemical that caused a legal nightmare for Monsanto, a lawsuit was filed against Monsanto on behalf of hundreds of veterans. The repercussions of dioxin would plague the company for years. In 1981 Monsanto leaders determined that biotechnology would be the company’s new†¦show more content†¦Comply with all laws, and rules 4. Act in good faith 5. Respect the confidentiality of information 6. Share knowledge and maintain skills 7. Promote and be a good example of ethical behavior 8. Responsible use of and control over all assets 9. Promptly report to the General Counsel or Director of Business Conduct and conduct that is violation of law or business ethics Monsanto’s measuring up: Concerns about the safety of GM foods: †¢ One concern is toxicity, but despite the concerns, the FDA has proclaimed the GM food is safe to consumers. Concerns about Environmental effects: †¢ There are concerns about the roundup herbicide, which is used in conjunction with the GM seed. But studies have shown that the Environmental Protection Agency maintains that glyphosate is not dangerous at recommended doses. †¢ Another concern is that GM seeds could be carried off by the wind, bees and other insects to other areas. Monsanto has not been silent on these issues and has acted to address some of these concerns. Concerns about crop resistance to Pesticides and Herbicides: †¢ Critics fear that continual use of chemicals could result in â€Å"super weeds† and â€Å"super bugs†. a. To combat â€Å"super bugs† the government requires farmers using Monsanto’s products to create â€Å"refuges†. b. To prevent resistance to herbicide, farmers are required to vary herbicide use and practice crop rotations. Monsanto Ethics issues: InShow MoreRelatedCase Study 1: Monsanto Attempts to Balance Stakeholder Interests995 Words   |  4 PagesCase Study 1: Monsanto Attempts to Balance Stakeholder Interests This case involves Monsanto, the world’s largest seed company. This is no ordinary seed company, it specializes in the genetic manipulation of organisms, known as biotechnology. Weeds, insects, and drought have been a huge issue for farmers. Herbicides and pesticides were creators to keep pests off of plants, however, applying them proved to be expensive and time consuming. 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