GMO stands for genetically modified; GMO foods refer to foods that are cultivated with high technology and scientific methods. When it comes to the modern business world. GMO foods benefit consumers in several different ways. To begin with, genetic technology has great potential to produce food with high yields since it creates plants better resistant to pests and diseases. GMO foods can help eliminate the serious problem of starvation. According to recent researches, a child dies for every two seconds worldwide from food shortage. If more GMO foods are being produced, the number of deaths resulting from famine would be greatly decreased. Moreover, GMO foods offer more nutritional value and better flavour than traditionally planted  foods. Since engineers can use genetic technology to change the traits in the foods, the contents of a particular nutrition could be increased. People would benefit from acquiring more of the nutrition that is the most wanted. GMO foods also impact the business market significantly in some other ways. There is a power shift away from local organic farmers to biotechnology companies. These companies have gained too much control over the production of crops and foods and local farmers are strongly against the production of GMO foods. GMO foods have shaken the global food market and they have many controversies surrounding their potential effects on human health or the environment, as well as the local business markets.

Resources:

https://en.wikipedia.org/wiki/Genetically_modified_food

http://www.cban.ca/FAQs/What-GM-Foods-are-on-the-Market

http://www.wsj.com/articles/should-companies-be-required-to-label-genetically-modified-foods-1436757040