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Monsanto Executive Summary

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Principle 1 - respect stakeholders beyond shareholders The first principle of the Caux Round Table addresses the need for Monsanto to implement responsible business practices for all stakeholders. According to SAID Business School and University of Oxford, “Companies need to look at what is in the long-term interest of the firm, community, and society” (2017, p.10). Monsanto must evaluate the firm’s international strategy and determine if the strategy is in the best interests of farmers, communities, and society on a global scale. In order to develop the strategy, Monsanto must form an oversight committee that represents the farmers, communities, and society in which Monsanto influences (Susskind & Field, 1996). Principle 2 – contribute to …show more content…

While legal guidelines are necessary, trust transcends the law, meaning that obtaining and building trusting relationships requires more than following legal guidelines. Monsanto must collaborate more closely with competitors and farmers who are disadvantaged from Monsanto’s legal patent victories (Ferrell, et al., 2016). First, Monsanto must consider the cultural aspects of their legal victories (Susskind & Field, 1996). For example, the legality in the United States may not apply to other nations. Thus, Monsanto must commit resources to establish a global collaboration with local farmers as well as localized competitors to build stronger relationships with …show more content…

Critics of globalization point out that the positive effects of globalization are not equal across all nations (Cuciureanu, 2013). Monsanto’s global dominance in the seed industry provides an opportunity to influence fair trade and regulatory reform. For instance, Monsanto can influence congressional laws in the United States that would allow small-scale farmers to keep their seeds from year to year, and scale back the Agricultural Appropriations Bill that protects Monsanto from legal action (Ferrell, 2016). Additionally, Monsanto could create a seed bank that maintains a collection of food crops to protect biodiversity and promote trade among farmers on a global

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