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,
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
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.
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.
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.
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
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
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.
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:
Regarding to organizational stakeholders, there are three main groups of stakeholders: customers, employees and investors. The company attempts to link stakeholders’ needs and expectations to the company’s goals. For customers, the company must treat them fairly and honestly. For employees, the company needs to treat them fairly, make them a part of the company and respect their needs. For investor, managers should comply with the accounting procedure, do not manip...
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.
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.
Stakeholder is main part in the business in the 21th century. As firms that want to grow and develop their business globally, stakeholders must be the main part that managers must take in account. Therefore, firms that focus on stakeholder concerns and interests will be able to improve relationships with their stakeholders which may make it easy to them to operate and lead to ideas for services or products that will address and satisfy stakeholder needs and wants (Zollinger P, 2009). If managers want to optimize firm’s social and financial performance, their vision on shareholder, community and employee’s interests should gather along with other vision of stakeholder groups whereas if the managers and stakeholders’ vision do not gather, that will be caused less stakeholders’ responses and cooperative toward the management as well as they may contest managerial decisions. Thus, the consequence of less cooperative and responses from stakeholders may affect firm’s financial and/or social performance negatively (Tashman, P, & Real in, J, 2013). According to Clarkson (1995) stated that the stakeholders can be divided into two types, first type is primary stakeholders who have either official contractual or formal relationships with the organization such as customers, employees, suppliers and shareholders. While, the second type is secondary stakeholders like, non-profit organizations, competitors, local community and government who do not have such contrasts. However, Homburg, C, Stierl, M, & Bornemann, T (2013) claim customers and employees are the most important in the primary stakeholders because they are the most influence on firm performance.
Stakeholders are interest of an individual or groups that directly or indirectly affected by the organisation’s activities, policies and objectives (Henry Frechette, 2010). Stakeholders can be divided as internal (managers and employees) and external (shareholders, customers, and suppliers) (BPP F9). Different stakeholders may have common interests or conflict interests with company. Company board members or management must take care about stakeholders’ interest. They can’t make the decision based on their own interest or their relation with others organisation. Conflict of interest will arise when interests of organisation act in concert with managers’ personal interests or interests of another person or organisations, (Anon, no date).
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.