Ventria Bioscience ( Case) Example

Ventria Bioscience ( Case) Example Ventria Bioscience ( Case) â€" Essay Example > IntroductionVentria Bioscience is a company that deals with research in biotechnology. The company has been in existence since 1993. According to Deeter (2005), it was mainly established for the purpose of carrying out research on the rice. This was mainly for the purpose of improving its breed as well as ensuring that the nutrition is improved world wide. The company also carried out research on crops as the company contributed growing. Initially, the company specialized in adding traits to the crops so as to make them resistant to attacks by insects and diseases. The research was mainly done by experienced personnel in the field as all the personnel were qualified in the sector. The company then commercialized its operations using the techniques and the technology at its disposal. This worked well for the company and continued to grow and expand over the years. The management team then developed a second wave of research which was aimed at using the plants for medical purposes. Most people experienced some health problems after consuming some food crop. The plan was mainly to achieve the goals through genetic modification of the seeds (Altman, 2012). The report therefore discusses the issues surrounding the problems faced by the company in the quest to plant the pharmaceutical rice. Problems facing Scott Deteer and VentriaScott who is the CEO of Ventria faces a problem of approval by the authority to plant the pharmaceutical rice. The authorities are reluctant to give the company a go ahead due to the fact that some of the stakeholders have raised concerns regarding the pharmaceutical rice (Deeter (2005). This is despite the fact that the planting season is nearing and the company had not win the approval of the authorities. Despite the company coming up with plans of how to deal with the concerns raised by the stakeholders. The company therefore stands to loose a lot in terms of financial benefits if it does not embark on the project. This may lead to l osses for the company which may en d up being financially crippled. This is considering that the company had invested heavily on the research. It is also evident that the company may loose support of the clients as the company is already in crisis. The crisis may also erode the good public image of the company and hence making it less relevant in the sector (Sasson, 2006). Despite the fact that the intentions of the company were good, the public may end up misinterpreting it and hence causing a lot of damage to the company in terms of reputation. This issue therefore presents a major problem to Scott and the company as a whole. The company also depends on the capital venture for the purpose of its growth, development and operations. With the project on hold, the company may face a difficult time a head. This is also a problem and a great challenge for Scott who has to figure out a way of moving the company forward. The future of the company is also uncertain if the project does no t kick off unless Scott devises other means of ensuring the company beats the current challenge.