Essay - Ethics Profile Monsanto (Nyse: Mon) is One of the Largest...

Ethics

Profile

Monsanto (NYSE: MON) is one of the largest food production companies in the world, if not the largest. The company, based out ***** St. Louis, is a global conglomerate with subsidiaries operating around the world. Monsanto employs an estimated 21,700 people ********** did $11.97 billion in sales last year (MSN Moneycentral, 2009). The ***** is broken down *****to two main divisions - Seeds & Genomics and Agricultural Productivity. The company also breaks down its businesses into its three main crops - corn, soybeans and cotton (Monsanto 2008 Annual Report).

***** ***** core of Monsanto's business is biotechnology. Monsanto typically develops seeds that are resistant to various diseases, in order to increase crop yield. One strategy ***** has proven critical to *****' s succe*****s is the development of pesticides, such as Roundup, ***** concurrently developing seeds that are res*****tant to those pesticides. Roundup products are expected to produce $1.9 billion in gross profit for the company by 2012 (********** current gross ***** for the entire company is $6.177 billion).

Monsan***** h***** been subject to significant controversy, **********, ***** a v*****riety of reasons. Some of the compla*****ts relate to outcomes from ***** approach to food-chain management. These include the destruction of biodiversity, the introduction of genetically-modified foods into the food chain, the replacement of staple ***** in favor of cash *****s grown for feed and damage to family structures in developing countries. Monsanto has also been criticized for direct actions *****y have taken. These ***** lob*****ing the US government to prohibit GMO labeling, the introduction of Bovine Growth Hormone, dumping PCBs in Alabama and bribes in Indonesia that earned the company a $1.5 million fine ***** violating the Foreign Corrupt Practices Act.. Paradoxically, Monsan***** won the 2008 Corporate Secretary Magazine Award for "Best Governance, Compliance and Ethics Program" (*****to, 2008).

Human Resources Practices ***** Policies

At ***** core ***** Monsanto's ethics program ***** what is known as the Monsanto Pledge. The ***** is focused on increasing yields and productivity. Thus, yield forms ***** heart of the company's philosophies. Flowing from the Pledge is a human rights policy, which pertains largely to the company's partners overseas. The human rights policy is guided by the Universal Declaration on Human Rights. Thus, the company stands against child labor and forced labor. Human resources policy also touches up***** minimum pay rates, working hours, harassment, discrimination, worker safety ***** other such issues.

Monsanto's human ***** policy was largely crafted ***** their overseas partners in mind. ***** company itself, being essentially a biotechnology firm, is generous with its own employees in terms of both ***** and benef*****. The company's policies with regards to equality ***** generally progressive, landing them a spot in Work*****g Mother *****'s 100 Best Comp*****nies in 2008 and Diversity Inc.'s Top 50 Companies for ***** list. The company ***** has a Code of Business Conduct that provides guidance to ***** regarding a myriad ***** issues, including business dealings, the environment, health and safety, stewardship, research methodology, and communication of information regarding Monsan*****'s finances