Organizations are responsible for many types of interest that stakeholders may hold. Most of these interest come from a stake held in the products, industry, markets, or outcomes (O. Ferrell, Thorne, & L. Ferrell, 2016). There are two main categories of stakeholders that include primary and secondary (O. Ferrell, Thorne, & L. Ferrell, 2016). The primary stakeholders can be broken down into those that are absolutely necessary for the survival of the organization, and others that are not essential are called secondary (O. Ferrell, Thorne, & L. Ferrell, 2016). The investors or marketing constituencies are primary stakeholders in the organization that provide the financial foundation and will expect a return on their investment (O. Ferrell, Thorne, & L. Ferrell, 2016). In the Monsanto organization, the website refers to the desire to serve all investors regardless of size and to provide expanded solutions and new choices in 2018 ( Monsanto, 2018). This is evident in Monsanto investment of more than $1.5 billion last fiscal year towards the research of new tools for farmers (Monsanto, 2018). Stock prices continue to increase and investment stakeholders are able to reap the fruits of their …show more content…
“It is well accepted that customer satisfaction is one of the most important factors for business success”(O. Ferrell, Thorne, & L. Ferrell, 2016). For consumer stakeholders, Monsanto made a commitment to broaden the selection of innovative solutions to help consumers and growers to meet the challenges of the agricultural market (Monsanto, 2018). Producers can improve their protection of yield, on-farm efficiency, and on-farm costs (Monsanto, 2018). With the demand for food continuing to rise, farmers are challenged with the ability to grow faster and better. The Monsanto Company continues to invest in data generated research investing $1.5 billion in 2017 for tools to help farmers (Monsanto,
People organization or groups that have a direct or indirect interest in a one particular organization or surrounding are called stakeholders.
In conclusion, it is emergent that Monsanto Company has been on the headlines for the wrong reasons. However, the country’s over-reliance in its products for food makes it hard for regulators and lawmakers to impute stringent regulatory measures. The company has been amassing power by acquiring competitors’ clients and threatening the existence of other market players. Financial analysis indicates that the company is money oriented and all its undertakings are to ensure that it has a consistent growth despite legal challenges.
Stakeholder is anyone with an interest in a business; stakeholders are individual, groups or businesses. They are affected by the activity of the business. There are two types on stakeholders who are internal and external. Internal stakeholder involves employees, managers/directors and shareholders/owners. External stakeholder involves suppliers, customers, government, trade unions, pressure groups and local and national communities.
According to Carroll (2009), stakeholders are any individual or a group who are associated with an organization and has mutual influences. He also claims that the stakeholders can influence or be influenced by any actions, decisions, policies, and goals of the organization. Clarkson (1995) defines primary stakeholders as a group or an individual who has high level of independencies and play a essential role in the survival of the organization whereas secondary stakeholders also have interactivity with the organization; however, they are not participated in transactions and without them, the organization still can survive. From this classification, we can easily identify a range of different stakeholders as primary or secondary in terms of their
Upon reviewing the history of Monsanto, one can see the transition of the corporate’s products from the artificial sweetener saccharine to one the most known herbicide, Roundup. Along the way, the company was involved in the production of other chemicals that destroyed the organization’s reputation and threatened in existence (Ferrell, Fraedrich & Ferrell, 2013, pp.382-395). Eventually, in order to survive turbulent times, the company made a strategic move to develop a seed that was resistant to its own product. Interestingly enough, the genetically modified seed contains Roundup. With this in mind, Monsanto continues to utilize substantial resources to convince its stakeholders that GMO(s) are safe and its organizational practices are ethical. In efforts to deal with the lists of complaints that plagued Monsanto such as:
Barlett and Steele’s “Monsanto’s Harvest of Fear” interpretation of Monsanto Company’s affect on the agricultural industry, its communities, and on consumers in the course of its aggressive expansion is both aggressive and unfair. Through the use of narratives and evidence, they reiterate and reinforce aliases composed by affected communities
In this paper I will argue that what Monsanto is doing to argructiler is acceptable. Monsanto is the world's largest seed company speazealzing in biotechnology. Some of the modifications they do is, plant seeds to increase the harvest yield of crops, lessen the amount of pesticides used, also modify the plant to become drought resistant. Monsanto also have developed a code of ethics due to past mistakes. With the rise of Monsanto they has been several critiques about what the company is doing to our food we consume.
Monsanto started out as a company that created an artificial sweetener for a well-known company called Coca-Cola. Throughout the last century, with the use of new types of innovation, the corporation has set out to change the world and has set a specific goal to change the way food is grown. Through the agriculture industry, Monsanto has created new technology that enables farmers to grow food faster and with less land area. Although the results seem to be positive, there are also critics of this new way of farming and health implications are unknown for now. Business Ethics states, “In 1981 Monsanto leaders determined that biotechnology would be the company’s new strategic focus” (Farrell, Fraedrich, Ferrell, pg. 383).
Consequently, Monsanto must have strategic planning for the overall sustainability of the business. Furthermore, its strategic planning should include customer service, essentially, without customers there is no business. Furthermore, Monsanto is seen a bully who throws its weight around, surprising farmers on their lands and demanding an examination of their crops. For example, Bennett & Kaskey (2014) says that, “the company has sued farmers, a practice that accounts for much of its reputation as a corporate bully. Monsanto says these suits are rare-250,000 American farmers buy its seeds every year, and since 1997 it has sued 145” (p.5).
Rather than sustaining the world, Monsanto drove costs through the rooftop — taking the greatest offer for itself. An investigation by Dr. Charles Benbrook at Washington State University found that quickly expanding seed and pesticide costs were packing agriculturists' pay, cutting them from any advantages of the new innovation.
Increasing product yield while conserving is currently Monsanto's main initiative. By 2030, Monsanto plans on doubling its current core crop yield by using ⅓ fewer resources. The company currently operates in two divisions, agricultural productivity(39% of sales), and seeds and genomics(61% of sales) . The agricultural productivity division assembles and sells herbicide products, while the genomics division produces row-crop seeds. The corporation oversees and partners with over 37 brands worldwide.
Although Monsanto Company took some social implications like charitable programs, it failed to uphold ethical culture many times over the years. Some of unethical practices the company had done so far were bribery, anticompetitive activities and harassing behavior towards infringer of patent. Notably, during the Vietnam War, Monsanto had been strongly criticized by producing toxic chemical named Agent Orange which had detrimental effects on not only human-beings but also the environment. Nowadays, genetically modified (GM) seeds produced by Monsanto remain controversial. Because of GM seeds’ unknown influences, it is
People acquired food by buying foods in fast foods, local markets, or harvest their own crops. People are not the only one’s harvesting their own crops, farmers also cultivate their own produce without total autonomy. In the article, “Monsanto’s Harvest of Fear” by Donald L.Barlett and James B. Steele investigate the role that the Monsanto corporation and the legal system take in American food production. Foods that are put on dinner tables are manipulated by Monsanto’s food corporation by manipulating farmers to sell genetically modified foods under contract, sending investigators to farm fields to strike fear on farmers, and the F.D.A allowing Monsanto’s food corporation monopolize the food industry.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Stakeholders refer to individuals or groups of people that have an interest in a business. Management argues that as long as there is wealth for shareholders, then anything is done in a responsible manner and things should be done to promote the interest of other stakeholders.