Concluding Case EATWELL TECHNOLOGIES Cristina Muoz and Ft Ft. [Pete] Prakash started EatWell Technologies as a result of conversations they held while they were graduate students in bioengineering. Both scientists were interested in how to develop crops offering superior nutrition in developing countries. and both believe that business innovation can and should drive social change. They focused their research on a genetically modied strain of rice that Is drought tolerant and high in vitamin A and iron. Upon completing their studies. they wrote a business plan and formed EatWell Technologies to commercialize their new rice. Their aim was to sell rst in Africa. where nutrition is an urgent problem and the potential for economic development presents huge opportunities for business. They selected Nigeria as their rst target market. Working through the government and with nongovernmental development organizations and local farmers. Cristina and Pete established a reputation for integrity and a desirable product. As farmers began purchasing their rice. the two owners hired research assistants. office staff. and sales representatives. They began to enjoy modest prots and started paying themselves a monthly salaryfar from what they could earn as scientists In a large corporation but enough to live on. They began discussing what products to offer next. Cristina suggested they develop improved leafy greens to provide variety In local diets; Pete was inclined to add new strains of rice. their area of greatest knowledge. The tvvo entrepreneurs also realized that as their venture grew. it needed management expertise beyond their skills as scientists. They hired an experienced ofce manager. and the ofce staff appreciated her tactful guidance. They also Interviewed Bill Jensen. a retired vice president of a community bank Eiiil was impressed with the company's mission and thought an interesting retirement project would be to heip EatWell become nancially stronger. Pete. Cristina. and Bill reached an agreement by which Bill would become a third partner in exchange for investing 5450300. The partners met daily. and Bill helped the scientists track cash flow. choose suppliers. and meet experts who can help the business expand Into new markets. At one of their strategy meetings. Pete and Cristina agreed it is time to settle on the direction for product development 1Iiiiill EatWeIl be a rice company. or should It diversify into green vegetables? Bill surprised them with a few PowerPoint slides about his idea. Bill pointed out that rice and leafy greens are commodities. and EatWell will W never get much of a return from investing in commodities. Instead. he pointed out the value of the rice as a brand. Imagine where EatWeiI could go by Incorporating the rice into other products. such as energy bars and breakfast cereal. They could go beyond farming into the cities and sell to Africa's rapidly growing middle class. who could pay a premium- They could even start paying themselves salaries in line with their expertise and the risks they took on by forming the company. Pete and Cristina were shocked. From their viewpoint. Hill had lost sight of the company's purpose