An internship refers to an arrangement where students provide their talents to companies in exchange for a chance to sharpen their business skills and gain hands on experience in a real job environment. A great percentage of internship programs do not pay the interns although some companies provide monetary support to them, either trough their own volition or to meet laid down guidelines. Regardless of this, internship programs are quite beneficial to the interns who take part in them. This is because they are able to get real world experience as well as a good chance to impress future employers. Establishing an internship program with Monsanto will be of great help to the Student of X University School of Business for a number of reasons.
Monsanto is an agricultural company based in St. Louis, Missouri in the Unites States of America, tasked with providing agricultural products and integrated solutions to the world market. The company produces seeds to boost agricultural output as well as herbicides for controlling weeds. Joining an institution with such a background will allow students to take an active role in the provision of solutions to the needs of farmers. Business students are taught the essence of identifying and meting the needs of their target customers more effectively than their competitors. Monsanto will offer such an opportunity to these students (Monsanto Intern, Co-op and Entry Level/Trainee Opportunities for 2010)
Understanding Company Products
Monsanto is a multinational company offering different products to farmers. The company is so diverse that it provides other agriculturally related companies with generic materials and generic traits for their seed brands. This segment has the following products: canola seed, vegetable and fruit seeds, corn and soybean seed, sorghum seed and sunflower seed. In addition, Monsanto provides franchise to other seed production companies. The company has an elaborate chain for distributing its products. Such a global exposure will expose the students to international competition and strategy formulation. Penetrating international markets is not an easy adventure, thus students will be able to learn how companies venture into different market segments and how they do it. In addition, they will learn the different challenges that multinational companies face in the global arena (Roberts 66)
Understanding How to evaluate a business
Internship program at Monsanto will enable students gain knowledge on how to evaluate business investments. Below is a summary of how the company conducted its evaluation, which interns can capture and use not only in other companies but which are also useful to those who would wish to start their own businesses. In evaluating their investments, the company came up with the following key positive arguments and key negative arguments. The positive arguments include: 1) the company’s pipeline of agricultural biotechnology are unique and unmatched in the industry. 2) A double digit growth in coming years 3) the company uses hedging to control prices 4) the company has a well established program of growth.
This analysis is helpful for the interns because they will be in a position to understand how logical thinking encourages management to be focused in coordinating business efforts. In addition they will see how this evaluation has helped the company to sharpen its objectives and policies and prepare for sudden developments. These skills are essential in the competitive business environment (Monsanto Intern, Co-op and Entry Level/Trainee Opportunities for 2010)
A company does not operate in a vacuum and therefore, it has to face some challenges. Monsanto is no exception to this rule. There are several obstacles that face its operations (Kotler 664). Understanding the basic rational of such an analysis is critical to the business students (Monsanto Intern, Co-op and Entry Level/Trainee Opportunities for 2010)
This is because they are tasked with responsibility of providing direction to the companies they will be working with especially though development of entry or exit strategies. For example, the student will be able to understand how a Company like Monsanto is able to sustain competition from companies like DuPont. What strategies are used? Does the company engage in Price wars or competitive pricing to ward of competition?
Understanding Managerial Climate and Culture
The managerial climate and culture of a company affect how people go about making decisions and doing business. Excellent companies make use of values such as being the best, understanding and incorporating workforce diversity, as well as involving others in decision making. The company has employed diverse technology that is unique and distinct to its production, for instance the biotechnology technique used in creating next generation traits is exclusive. Their research in field of biopesticide alternative for pest control and stress management has seen Monsanto protect the yield potential for farmers across the globe (Reference for Business 1).
Seed treatment technology provides greater pest and stress management choices that are effective and robust that has an eventual help to farmers to increase on their farm productions. Taking ultimate care of the seeds is crucial in protecting them from pests and diseases in general. This has helped to place Monsanto Company products on the world map. The main aim of the company is to provide farming solutions to small farmers while at the same time conserving the environment. The use of technology as a competitive tool will help interns learn its value in the contemporary business environment. This is an important truth that every business student must be equipped with (Reference for Business 2).
The role of Partnerships and venture in Success of Business
Partnership and venture are ideal in many companies entering international markets are no exception. Partnering with other world class research companies is key to Monsanto’s vast success. Monsanto has partnered with many companies. For example, it has collaborated with AgraQuest that led to the production of pesticides useful to the core vegetables and crops of Monsanto. With other innovative companies in research and development Monsanto has excelled in the field of Agriculture. Consequently, environmental friendly techniques which are sound in controlling farm pests have been developed (Brass 104). The partnership has also further boosted Monsanto’s commitment to a larger agricultural sustainability which has finally helped farmers boost their crop yields. Intern will not only learn the role of partnerships and ventures in achieving success, but also the reasons why companies go international. In addition, they will also learn how these international divisions are organized and run.
Understanding Implications of Financial Strength
A company with a strong financial background can succeed well in the international arena. The financial stability that Monsanto Company commands in the global market has wholly positioned the company on the world market. The company has great financial strength which has made it acquire assets overseas, transport their products to global markets, employ personnel with superb qualifications to aid in technological growth of the company and manage to contact worldwide research to establish what the farmers and market at large need. With this, Monsanto Company has conquered in providing farmers with what they want at the right time and hence helping in attain their desired accomplishments in the agricultural sector. Interns will be able to see how the company uses financial strength to their advantage. Such knowledge will help students to stress financial discipline in their organizations so as to achieve successful operations like Monsanto.
Diversification of Operations
Diversification is a strategy that every business student must be aware of and be ready to incorporate in making businesses decisions (Dennis 54). Successful companies make use of this strategy well. Monsanto has embraced diversification strategy in its operations. The Company has a wide range of products. This is a critical strategy that Monsanto Company has incorporated in their objectives to make sure that they reach a wider market territory. Crop production and animal health are the main focus of the company. The genomic portion of the company deals with all kinds of seeds and technologies that help in forming traits of the next generation like biotechnology. Interns will be able to learn and see for themselves the benefits of such a strategy (Brass 104).
The Challenge of Diversity
Diversity is a big challenge for many companies. Global players must be able to face this challenge effectively. Global markets have provided Monsanto with a better playing ground compared to other companies which strictly operate within the boarders of the United States of America. For instance, Monsanto has expanded her markets to Europe, Asia and Africa. This diversity is key to Monsanto’s existence and has also helped embracing workplace diversity; recruiting their employees across the globe. Students will be able to understand the critical role that diversity plays in the success of a company. Successful companies embrace diversity of products as well as diversity of workforce (Monsanto Intern, Co-op and Entry Level/Trainee Opportunities for 2010)
As a major agricultural organization, Monsanto’s aim is to raise agricultural output through the use of modern technology and innovative methods to assist farmers around the globe to become more successful. The main focus of the company is the production of healthy foods, better animal feeds and more fiber. An internship program will give student an opportunity to learn many business activities especially those affecting multinational corporations such as Monsanto. Several opportunities facing companies have been explored as well as threats to company operations. Indeed, the internship program will help students see for themselves how companies formulate strategies to counter competition. It is hoped that this program will equip the students to be effective in the corporate world or be successful in private businesses.
Brass, Frank. “Market Segmentation: Group Versus Individual Behavior”, Journal of Marketing Research, 2005, p 104.
Dennis, Chase. “Global Marketing: The New wave” Advertising Age, 2004, p 54.
Kotler, Philip. “Principles of Marketing”. New York: Prentice-Hall, 2005.pp 664-665.
“Monsanto Intern, Co-op and Entry Level/Trainee Opportunities for 2010”. Cambridge: Cambridge University Press.
“Reference for Business” New York: Academic Press, 2005.pp 1-3.
Roberts, Peter “Applying the Strategy of Market Segmentation,” London: McMillan Press, 2009, p. 66.