Environmental Biotechnology and Business - Research Paper Example

Biotechnology Case Study: MBAO 619 Emerging Technologies New advances in biotechnology have enabled many companies to make great strides in the achievement of their objectives. Companies embrace new technology, which ensures the growth of their businesses while still maintaining the company’s stand against the degradation of the environment. Biotechnology is providing many solutions to companies that want to change from old technology that they use to the new, innovative technology that will minimize the effects that the company’s products have on the environment. Customers are not only going for products that will meet their own personal needs, but also products that have been manufactured in accordance with environment maintenance in mind. I have to consider several aspects of a product before authorizing the company’s staff to start its producing or manufacturing. As a company, which is known for its environmental friendliness, the company has to embrace new technology that will ensure that all products that the company produces are environment friendly. This will be done while still maintaining the integrity that the company has with its customers relating to the quality and workability of the product put in the market. This paper answers some questions regarding my decision as the CEO and the founder of the company. Questions What considerations do I take into account as to purchase the new fabric or not? I have considered a variety of issues before I deciding whether or not to purchase the new fabric. The decision that I make at this point will have tremendous effects on the future of the company. These considerations include; 1. The environmental impact- the process of manufacturing the new product has managed to remove all wastewater in the manufacturing process, which was generated when using the original chemical. However, there will be generation of wastewater when the customers wash the new garments repeatedly. Small, but significant amounts of the genetically modified compound are most likely to wash off during the cleaning process; this wastewater could then flow and find its way into the local water treatment factories, plants and waterways (Agathos 90). 2. Long-term environmental problems- the environmental assessment department of the company has continued to address the issue of the long-term effects of the new product and the health issues that it might cause. Little is known on the long-term effects of the product (Agathos 90). 3. Weakness in the company’s marketing campaign- the marketing department has made emphasis that include anti-odor treatment in the product line, which will help in the elimination of the clear weaknesses that are in the company’s marketing campaign. The company will now be able to match its competitors in the issue that regards the odor-fighting properties of our products. The company can now advertise the product as being “chemical free”. 4. Supplier-company relationship- in the making of the decision as to accept or reject the news product, I have to take into keep in mind the relationship that exists between this company and the supplier. The supplier took time to manufacture the new product with the belief that the company would purchase the product. If I choose not to accept the new product, then the business relationship between this company and the supplier might be damaged (Keely & Detert 22). 5. Company’s profits- all departments that are in favor of the new products have argued that the environmental impact of the product is a great and dramatic improvement over any other technology in the market. Continued research may further lead to the development of another product that has more improvements. The company cannot survive by neglecting its profits for the sake of the environment; if this continues then no company will continue fighting for the environment (Keely & Detert 22). What ethical considerations do I make when deciding to purchase and use the new product? I must consider several ethical issues in the decision to purchase and use the new product. It would not be ethical for the company to release a new product to the market, fully aware that the product could have negative long-term environmental impacts. It would also not be ethical for the company to reject the offer by the supplier. This is by taking into consideration that the supplier spent time and resources to manufacture a product, which will rid the company’s problems, knowing that our company will purchase the product as it has been doing before. Identify the costs and benefits, you see with buying the new technology and with rejecting it. The company stands to reap huge benefits if I accept the use of the new product. The agreement that is between the supplier and the company will allow this company to use the product for a period of 2 years. This provides a great prospect for the company to regain the profits that were lost when the company stopped production of garments with the original chemical (Pisano 56). If I accept the use of the new product in the company’s production line, then the company will stand to regain its place in the market by acquiring a market share of more than 7%. This will increase the total sales of the company and the profits will increase significantly. The market for garments that incorporate odor-fighting technology is the fastest and the largest growing market in the industry (Keely & Detert 102). The company stands to gain many benefits by adopting this new technology since the product, which will be released into the fast growing market will be superior to all other products in the market. If I make the decision to reject the new technology, then the company that has already lost 15% of its total sales will continue on the path of failure. The supplier will with no doubt offer one of the company’s competitors the chance to assimilate the product into their product line. This will in effect reduce the market share of our company further (Omenn & Albert 78). Describe the course of action, you would take and why. Taking into considerations all the advice and analysis that has been provided by the relevant departments in the company, the company stands to reap huge benefits after incorporating the new technology. These benefits are far more superior when compared to the risks, which the company is taking when the long-term effects of the new technology are taken into consideration (Keely & Detert 47). This company has a strong stand in the protection of the environment, however, this in any way should not affect the productivity of the company, the company should find a way of maintaining its market share while still maintaining its stand on environmental issues. I see this product as the first huge stride towards the achievement of a safe and clean environment. I will, in this effect accept the new product as the company’s production line, the company will also ensure that the supplier get all the support that is needed to continue researching on new products, which will continue reducing the effects that the company’s products have had on the environment (Wang et al 35). Comment on the statement: “If we continually make decisions that sacrifice company profits for the sake of the environment, eventually there will be no company left to carry out an environmental mission.” Is this a legitimate argument? This is a very valid argument by an employee; this argument is because the company has already lost too much in the environmental fight. I halted the use of the original chemical in our production line; this had a tremendous negative effect on the total sales of the company (Keely & Detert 67). The company is sacrificing too much for the sake of the environment to its own peril. The company should see this new technology, as the first step to the development of products that will have no negative environmental effects. If the supplier faces rejection by the company, then the supplier will surely approach another company with the same offer, and this will result in another tremendous blow to the company’s market share. Therefore, the company cannot allow this stand on the environment come between the company and the chance of maximum profits. Incorporation of the new product will ensure that the company is still making efforts, which will ensure good environmental management while at the same time reaping huge benefits from the same. Works cited Agathos N. Biotechnology for the environment: wastewater treatment and modeling, waste gas handling. Dordrecht: Kluwer Acad. Pub, 2003. Print. Keely B and Detert J. "Considering Profits and Principles in Technology Adoption Decisions (A)."Electronic. Reterived from; Ethics Education Library. . Omenn S and Albert H. Biotechnology and the environment : research needs. Park Ridge: Noyes Data Corp, 2006. Print. Pisano P. The science business : the promise, the reality, and the future of biotech. Boston: Harvard Business School Press, 2006. Print. Wang K. Environmental biotechnology. New York : Humana, cop, 2010. Print. Read More