Abstract
The study aims to identify the strategic considerations of genetically engineered
foods on the micro-, market-, and macro-environment of business and to make
recommendations to the biotechnology industry on how to strategically manage
the issues surrounding genetically engineered foods.
Plants and animals have been selectively bred for centuries to create hybrid
strains containing favourable traits of both plants and animals. Plant
biotechnology is an extension of this traditional plant breeding. Plant
biotechnology allows for the transfer of a greater variety of genetic information
in a more precise, controlled manner. Genetic engineering allows for the
manipulation of gene(s) to include novel and new traits or even to exclude bad or
unwanted traits. Genetic cloning, a sub-discipline of genetic engineering creates
the ability to clone a single gene, many genes or even complete organisms and
live forms to ensure crops or herds of superior value and quality. These
evolutionary steps of genetic engineering have created many new skills and
abilities that could possibly revolutionise the business environment at all the
levels.
Prof. N. Lessing