Monsanto's products and technologies
Monsanto is a life sciences company with three separate businesses that share both a common goal, and the technologies to achieve that goal. These three separate businesses include agriculture, pharmaceuticals and food ingredients. Within these business entities, Monsanto has a wide range of products, including herbicides (Roundup), pesticides (DDT), agricultural biotechnology (BST), pharmaceuticals (Nutrasweet) and genetically engineered produce (soy beans) just to name a few.
Monsanto's products are developed through genomic technology, the study of genes and their functions. Monsanto used this technology to alter the genes in both animal hormones and in plants to boost the traits they wanted emphasized, and to remove any traits they wanted. The knowledge gained from genomics gave the scientists at Monsanto an innovative way to design new agricultural and produce solutions. It was through this technology that the company was able to alter the genes of a number of plant seeds so as to be resistant to Roundup.
In doing so, Monsanto was able to create long-term demand for the product.
Cultural differences in Monsanto's experiences in the US and Europe
Monsanto learned a very important lesson that all international corporations must learn if they are going to be successful on a global level. They learned that just because something works well in one country you cannot assume it will work everywhere. Monsanto first sold their products in the US, where consumers' attitudes were shaped by FDA approved. Almost 75% of the citizens in the US were willing to accept the genetically modified products, with only 55% of the consumers having the knowledge of how or why the products were altered. American public attitudes were not very concerned by genetically modified foods, and the effects they may have on their health.
When Monsanto tried to...