The paper 'Business Strategies for Monsanto Company " is a perfect example of a business case study. Biotechnology is the process of using organisms to improve qualities of a plant; this includes the ability to protect itself against damage or just improve its ability to grow and produce (Trigiano & Gray, 2011). Biotechnology is also referred to as genetic engineering. In this regard, plant biotechnology enables the transfer of a greater or a better variety of genetic information through an accurate, precise and controlled manner (Mohapatra, 2011). For instance, it allows the transfer of one or a few genes, which introduce new traits such, improved insect and weed control.
Monsanto Company uses biotechnology as one of the components in coming up with seeds that can deliver increased yields sustainability (Monsanto Company, 2013). After discovering that farmers are faced with numerous challenges with regard to crop farming, Monsanto has continuously developed advanced products using biotechnology. The company has exciting biotechnology traits from the second and third generation agronomic insect and weeds control traits technologies to new yield and stress traits. Similarly, the company has positioned itself to come up with innovations in biotechnology that are aimed at creating value for farmers (Trigiano & Gray, 2011).
Higher yielding corn product is one of the products that the company has developed to show its commitment to offer farmers seeds and trait characteristics that increase productivity as well as conserving water, land and nitrogen resources. This report provides inherent research into the company’ s R& D activities, product development processes, marketing strategies, and the intellectual property strategies that the company uses. Company Information: History, Product, Growth John Queeny established Monsanto Company in 1901 and the original main products were plastic in nature (Monsanto Company, 2013).
The company, which currently trades in the United States, is multinational agricultural biotechnology. The headquarters of the organisation is in Creve Coeur, Missouri. Some current products include herbicide glyphosate and genetically engineered seeds. Some of the accomplishments but the company includes mass production of light-emitting diodes and breakthrough on catalytic asymmetric hydrogenation. Monsanto Company also manufactured some controversial products such as Agent Orange, PCBs, DDT and recombinant bovine somatotropin (Trigiano & Gray, 2011).
Monsanto Company has been a major player in modifying products but the original company diversified most of its products through spin-offs and mergers and the company focused on biotechnology (Robbins & Huzair, 2011). Monsanto Company utilised a biotechnology industry business model into the agricultural industry utilising the techniques that were developed by Genentech and other drug companies. The strategy is based on investments in research and development with the aim of recouping the expenses through enforcing the biological patents (Monsanto Company, 2013). In the 1980s, this strategy faced numerous conflicts against the customary practices whereby farmers reused, saved and developed plant varieties.
The approach in which Monsanto Company commercialises its products has been seen as biopiracy; biopiracy is the utilisation of advance companies of indigenous methods to gain revenues (Chandra, Lata & Varma, 2012). Research and Development Monsanto’ s research and development activities for biotechnology pipeline products are aimed at delivering innovations that meet the needs of farmers in a sustainable way. The 2013 Research and Development Pipeline has a singular objective of focusing on delivering innovative and sustainable products to farmers around the globe which will help in improving their yields as well reduce their cost of production by using fewer inputs (Monsanto Company, 2013).
The pipeline initiative spans across various crops and technology in different phases of development.
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Chandra, S., Lata, H., & Varma, A. (2012). Biotechnology for medicinal plants: Micropropagation and improvement. New York: Springer
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Halford, N. (2006). Plant biotechnology: Current and future applications of genetically modified crops. New York: John Wiley & Sons
Mohapatra, S. (2011). Case studies in strategic management: A practical approach. Jakarta: Pearson Education India
Monsanto Company. (2013). Home. Available at http://www.monsanto.com/Pages/default.aspx
Robbins, P., & Huzair, F. (2011). Exploring Central and Eastern Europe‚Äôs Biotechnology Landscape. Washington, DC: Springer
Trigiano, R., & Gray, D. (2011). Plant tissue culture, development, and biotechnology. New York: CRC Press