We will focus on basic human needs, such as food and shelter, and see science as a source of solutions to difficult, high value problems. We want to improve the quality of life for people around the world through enhanced value, renewable resources. We want to be seen as a dynamic company that is on the move, able to foresee the human needs of the future, and to meet them. That is why we've adopted The miracles of science as our new corporate slogan for all internal and external communications. Before looking ahead at how our industry is changing, I think it is helpful to start with a brief historic perspective.
Technological improvements tend to come in waves, and the waves are coming faster than ever before.
These technologies have been geared toward boosting farm productivity, which has improved farmers' bottom line profits, although not enough in today's climate, and has made their lives easier. Technological evolution and constant product displacement have been a fact of life on the farm as new and better technology-based products have been developed. But in the past, the impact of new products on the marketplace has typically been evolutionary and product displacement has generally been gradual. Farmers have had time to integrate new technologies into their cultural practices and time to respond to market conditions. Companies have had time to reposition themselves, reformulate their business strategies, and readjust business structures to bring new technology-based products to the marketplace to remain competitive.