Monsanto is an American multinational agricultural company which was founded in the year 1901. The Missouri based company deals in crop seeds, pesticides and herbicides. According to the company’s official records, in the 20011 fiscal year, it had total assets of $. 19.844 billion with a workforce of over 20,600. This helped it to generate total revenue of $. 11.822 billion during the same period. Since its establishment, Monsanto has undergone a lot of transitions to become one of the most lucrative agricultural solution companies in the entire United States of America. In fact, its shares are traded at the prestigious New York Stock Exchange (Yun, O., 2005).
Company’s Vision Statement
The company is committed to strengthening the agricultural communities by providing the best solutions to address the ever changing agricultural practices. It is also puts the interests of the general public to provide it with the most admirable philanthropic services. This is the only way this company can transform the lives of all the involved stakeholders.
Company’s Values Statement
At Monsanto, the major values are integrity, honesty and respect. These are in deed, the pillars of the business ethics which govern the operations of the company. It is only through having such a perspective which can help the company to comply with the ethos of corporate community. Business ethics is an essential component of this company which guides its activities at all the times.
These are very powerful statements which are in line with the company’s culture and put it in a better position to accomplish both its long and short term goals. At the same time, they enable the company to determine the conducts of the workforce as they strive to deliver their quality services for the benefit of its clients. Observing integrity enables the company to create an admirable place of work which can accommodate all sorts of employees regardless of their personality, interests or background. This is the surest way of establishing a good rapport with all its stakeholders.
At Monsanto, the shareholders play a very significant role in determining the kind of administration of this company. Some of the notable shareholders include the G.D. Searle, Agracetus, Emergent Genetics and Dutch Seed Company. Their major role is making the topmost decisions affecting the company. This is because, as the owners, they do not want to lose their investments. It is their responsibility to ensure that they reap the maximum possible profits from their investments.
Under the shareholders, is a Board of Directors which consists of a tam of highly reputable experienced professionals who play a very significant role in this company. As the topmost organ, the board makes major decisions, offers advisory services to the executive and helps the company to appeal to the general public. The incorporation of personalities like David L. Chicoine and Arthur H. Harper in this board has given this company a good image. These are very successful people who have made tremendous contributions in USA. Therefore, they can instill confidence on shareholders and all other stakeholders. Under the Board of Directors is a dedicated and industrious team of executives. these include the Chief Executive Officer (CEO), Managing Director, departmental heads and other junior staff. Each of these is charged with the responsibility of overseeing day to day operations of the company. While doing this, they are expected to conform to the company’s internal policies and follow all the bureaucratic procedures in their communication, supervision and general operations.
Corporate Social Responsibility (CSR)
Monsanto Company is committed to satisfying all its stakeholders. This means that it safeguards the interests of the shareholders, suppliers, employees, debtors, clients, trade unions, government and the general public. This is done to enable it appeal to all these groups for them to feel as a recognized part of the entire organization. In this regard, there are a lot of Corporate Social Responsibility (CSR) services offered to each of these categories of stakeholders depending on the legal requirements, internal company policies and the needs of these people. This is done in the following ways:
Monsanto Company is involved in a lot of philanthropic activities. It sponsors very many programs for the local people. These include educational, recreational and economic services. For instance, being education conscious, it has engaged in a number of educational programs which offer sponsorships to school going children. The company uses its own funds to sponsor students pursing high school, college and university education (Visser, W. et al., 2007).
2. Environmental Cleanliness
As an agricultural company, Monsanto has to be concerned about the environment. Even if some of its products like DDT chemicals have put it into lots of legal tussles, the company has become so much concerned about the environment. The argument behind this is that it can not claim to be concerned about the welfare of farmers without putting due considerations about the agricultural land. As a result of practicing environmental ethics, the company has collaborated with the United Nations Environmental Program (UNEP) by conforming to its standards. Because of this, it no longer manufactures agricultural solution products which can be harmful to the environment. At the same time, the company supports a number of environmental programs. This means that it is cooperative to the government and is not only concerned about the welfare of its clients, but for the general public (Davis, K. & Blomstrom, R., 2005).
3. Customer Satisfaction
The company is concerned about the interests of its clientele. It tries to do all that it can to satisfy their diverse needs. as a result of this, it has come up with strategies to improve the quality of its products and charge affair prices for them. in other words, it does not exploit its customers in any way. It has complied with the health standards of producing appropriate commodities which can be handled with farmers without many agonies. For instance, even if it manufactures chemicals which can be poisonous if mishandles, it ensures that they are properly packaged to leave no room for any pilferage. At the same time, it clearly outlines the warnings and elaborates on the handling procedures. The company is doing all these because it is concerned about the safety of its clientele.
On the other hand, Monsanto is also concerned about the welfare of its staff. Each of the workers is treated as an integral pat of this company which has a significant contribution to make. Therefore, it has installed a strong Human Resource Department (HRM) to cater for them. Hence, there is a transparency and honesty in the recruitment procedures and treatment of all the employees. at Monsanto, all the employees are equally treated. They are given incentives like attractive salaries and promotions. This has motivated them to feel as an important part of this company (Jones, I., M. & Pollitt, D. Bek, 2006).
In conclusion, I would like to report that Monsanto is a good company. A part from demonstrating excellent governance, it has tremendously done a good job by safeguarding the interests of all its stakeholders. Moreover, the use of CSR as outlined has further strengthened its operations. A part from satisfying its stakeholders, it has given it a good reputation in the eyes of the general public. This has been the secret behind its success.