Managing growth: New products and new markets at Monsanto

Abstract

In a little more than a decade, bioengineering has moved from the esoteric halls of academia and R & D departments to the center stage of major corporate financial strategic planning. For many major chemical and refining companies, genetic manipulation is becoming the centerpiece of survival. Dupont, for instance, is considering getting rid of the $21-billion Conoco Company in order to devote resources to the development of, and more importantly, the marketing of bioengineered products. Monsanto, largely because of its emphasis on reducing the environmental impact of its agricultural products, is one of the few major corporations to cultivate profit from the soil surface through design for the environment. Monsanto's CEO, Robert Shapiro, has made the consideration of the company's impact on the environment dependent on the company's competetive future.