gbs final - PHASE ONE Global Market Research 1) 2)...

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PHASE ONE Global Market Research 1) Environmental Scan : Political, Economic, Regulatory /Legal, Social/Cultural, Geographic/Physical. 2) Agricultural Market Size : Determine the total amount of land under cultivation; Determine the principal crops; Determine the principal crops targeted for export. GMO’s : Estimate the total amount of land currently under GMO cultivation and identify the crops (e.g. CORN, COTTON etc.)
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Environmental Scan Target Country: UNITED STATES Politics: The biotech industry is regulated by the U.S. Food and Drug Administration (FDA), the Environmental Protection Agency (EPA) and the Department of Agriculture (USDA). [Biotechnology Industry Organization. (July 15, 2010).] U.S. policy toward agricultural applications of biotechnology has on the whole fostered rapid commercial development of GMO crops, yet adopts a precautionary approach when it comes, especially those that raise ethical or moral concerns such as stem cell research, cloning, gene therapy, or access to genetic information. And although today there are more supporters than critics of GM foods and crops in Washington, as compared to early 1980s when the possible risks of genetic modification was a prominent theme in policy debates. In other words, a more detailed rendering of U.S. policy would provide insights into the dynamics of issue attention over time and across different applications of biotechnology. The product-based approach separated agricultural and medical applications in the regulatory process and established administrative jurisdictions over different biotechnology products. More important, this division of labor came to be reflected in the congressional committees responsible for the oversight of federal authority in biotechnology; committees that had different policy jurisdictions, different interest group clienteles, and different approaches to risk and regulation.[ ALL Achedemic Research. (2010).] Economics: 1) Growing at the rate of 13.95% from the year 2005, U.S Biotechnology industry is expected to touch the mark of US$ 131.8 Billion by the end of 2010. 2) Biotechnology will play an important role in Agricultural sector by developing large number of genetically modified seeds. 3) The biomedical sector accounts for the major share of overall biotech industry in US and will continue to dominate in future as well. 4) The clinical trial industry will cross US$ 30 Billion mark by 2011. 5) The average annual wage of U.S. bioscience workers was $71,000 in 2006, more than $29,000 greater than the average private-sector annual wage.[ Market research. (2010)] [Biotechnology Industry Organization. (July 15, 2010)] Social/Culture: Allergies: Many children in the US have developed life-threatening allergies to peanuts and other foods. There is a possibility that introducing a gene into a plant may create a new allergen or cause an allergic
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This note was uploaded on 07/12/2011 for the course BUSINESS 446 taught by Professor Sherliy during the Spring '11 term at Seneca.

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gbs final - PHASE ONE Global Market Research 1) 2)...

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