Monsanto Balances Environmental & Ethical Factors Case Study

2446 Words Oct 21st, 2012 10 Pages
UNIT 2 COMPLETION QUESTIONS: Monsanto Balances Environmental & Ethical Factors

CASE SUMMARY:

Summarize the key facts of the case in a paragraph. Monsanto Company is the world’s largest seed company specializing in biotechnology or genetic manipulations or organisms (Ferrell, Gatewood, Gatewood, & Taylor, 2010). Scientist of Monsanto spend numerous hours modifying crops, inserting new genes or adapting existing genes within plant seeds, to meet certain aims; for example, higher crop yields or insect resistance. Their seeds have increased quantity and availability of crops, and help all farmers worldwide increase food production and revenues. Monsanto was started in 1901 by John F. Queeny, selling food additives, food
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This was not good for Monsanto, because fish were deformed that were in the creek and high elevated levels of PCB. Again another lawsuit was filed once this information was obtained and over 20,000 residents were paid. Monsanto leaders new of this pollution since the sixties and never said anything about which many considered a cover-up (Ferrell, Gatewood, Gatewood, & Taylor, 2010). In 2002, a manger of Monsanto instructed an Indonesian consulting company to pay a bribe of 50,000 to an official in the countries environment industry to bypass an environmental study. Later being revealed that this was not the only time Monsanto had done this, but had been paying off officials between 1997 and 2002, According to Monsanto, stories claiming Monsanto engaged in improper activities in Indonesia. The truth is that Monsanto did act incorrectly in Indonesia between 1997 and 2002. This involved a series of illegal or questionable payments totaling at least $700,000 made to various Indonesian government officials during that time; an investigation was launched with Department of Justice and Security exchange commission. Monsanto’s accepted full responsibility for its employee’s actions and in agreements with DOJ and SEC, Monsanto paid $1.5 million in fines for violations of the Foreign Corrupt Practices Act (Monsanto Business Practice in Indonesia, 2002-2012). Things began to turn around somewhat for Monsanto; in 2003, new CEO came in Hugh