...Johnson & Johnson Company I. History Johnson and Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturing company. Johnson and Johnson was founded in 1886 in New Brunswick, New Jersey by three brothers Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson. Between 1888 and 1921 Johnson and Johnson had a lot of first with products such as first aid kits, dental floss, sanitary napkins for women, band aids, baby powder( which later leads to the company's booming Baby business products). Also it was the first company to provide disaster relief to citizens of Galveston, Texas after a hurricane( the tradition begins). Beginning in 1924 is when Johnson and Johnson expanded its company overseas to countries such as United Kingdom, Mexico, South Africa, Australia, Argentina, and Brazil. Between 1954 and 1989 Johnson and Johnson made expansions to their company such as putting operating companies in India, China, and Egypt. They entered new eras of health care such as vision care, diabetes management and mechanical wound closures. Johnson and Johnson was the first company to introduce disposal contact lenses, they also joined forces with big companies such as Neutrogena, Kodak's Clinical Diagnostics, Cordis Corporation and Centocor. Johnson and Johnson has been around for 126 years providing care for patients and communities around the world. Today Johnson and Johnson has over 250 companies in bout 57 different countries...
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...Johnson & Johnson Johnson & Johnson is known around the world today as the most competitive and broadly based manufacturer of health care products. J & J also provides other services to the pharmaceutical and medical diagnostic markets. In 1887, three brothers, Robert Wood, Edward Mead, and James Wood Johnson set out to create Johnson & Johnson; which became one of the largest health care companies. The company started in Brunswick, New Jersey with only fourteen employees, today employs more than 110, 000 employees. J & J’s objective is to provide scientifically sound, high quality products and services to help, heal, cure disease and improve the quality of life. With their objective set high, J & J has social responsibility, sets guidelines for FrameworkS to help with creativity within the company, infuse ethics into its decision making, and strives to keep ahead of the competition in the fast paced market. The Johnson and Johnson (J & J) company has been motivated to accomplished its Credo which is its social responsibilities. J & J has been reaching out to support social and public health programs as well as medical educational initiatives around the world. Its Credo emphasizes the vision of Global responsibility toward communities in which they live in and work, its customers and global environment, employees, finally its stockholders. J & J’s community responsibility has been made by providing financial support, product donations and health care expertise through...
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...Case #1 Personally, I am in a full support, to put the customers first and shareholders last. Because companies sell trust and if you put the customers first then you’re showing that you care for them. In return, the customers will feel secure and confident to buy the company’s products or services. For example Johnson & Johnson company’s credos is “A company that put customers first and shareholders last ultimately benefited both groups”. I don't think the company would have recovered from the incident of tampering with Tylenol in 1982 if the CEO, Burke, did not choose to put customers first. I mean, if he hadn't taken such drastic measures, for consumers there might have always been a bit of uncertainty about buying Tylenol products. I believe that the acceptance of financial losses and maintaining a strong, ethical business core helped rebuild and make the J & J stronger. This proves how an organization and a CEO with corporate social responsibility cores can handle a catastrophe by doing the right thing worldwide. At the end, this social responsibility core idea benefited the customers, employees and shareholders in return. In conclusion, I also think corporations should act in the public interest whenever it is right for them to do it; when not putting in danger their bottom line. Like everything in life, moderation and self-control should be practice, meaning that the company should focus on its interest but also should focus on increasing the social responsibility...
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...Accounting 461-Project No.1 Part I JOHNSON & JOHNSON Corporation HISTORY Johnson & Johnson is an American multinational medical device, pharmaceutical and consumer packaged goods manufacturer founded in 1886. Its common stock is a component of the Dow Jones Industrial Average and the company is listed among the Fortune 500. Johnson & Johnson consistently ranks at the top of Harris Interactive National Corporate Reputation Survey,[2] ranking as the world's most respected company by Barron’s Magazine,[3] and was the first corporation awarded the Benjamin Franklin Award for Public Diplomacy by the U.S. State Department for its funding of international education programs.[4] The corporation's headquarters is located in New Brunswick, New Jersey, United States with the consumer division being located in Skillman, New Jersey. “The corporation includes some 250 subsidiary companies with operations in over 57 countries and products sold in over 175 countries.” Johnson & Johnson had worldwide pharmaceutical sales of $65 billion for the calendar year of 2011.[7] Johnson & Johnson's brands include numerous household names of medications and first aid supplies. Among its well-known consumer products are the Band-Aid Brand lines of bandages, Tylenol medications, Johnson's baby products, Neutrogena skin and beauty products, Clean & Clear facial wash and Acuvue contact lenses. In 2012, Johnson & Johnson announced that they will start to fund the therapeutic...
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...| Johnson & JohnsonSubmitted to:Submitted by: Date: 31st December, 2014 | | | | | | | | Index Particulars | Pg.Nos. | Introduction(about co., credo, history, subsidiary holdings, product) | 03 | Strategic framework | | Environmental analysis(PESTEL,Porter,SWOT,competitor, value chain) | | Business level strategy | | Corporate level strategy | | Strategic acquisitions | | Corporate governance | | References | 12 | Introduction Johnson & Johnson is an American multinational pharmaceutical, medical devices, and consumer packaged goods manufacturer founded in 1886. It is headquartered in New Brunswick, New Jersey and being listed among the Fortune 500. The corporation includes some 250 subsidiary companies with operations in over 57 countries and products sold in over 175 countries. Johnson & Johnson and its subsidiaries (the Company) have approximately 128,100 employees worldwide engaged in the research and development, manufacture and sale of a broad range of products in the health care field. The Company conducts business in virtually all countries of the world with the primary focus on products related to human health and well-being. Our Credo: Credo,a deeply held set of values that have served as the strategic and moral compass for generations of Johnson & Johnson leaders. * We believe our first responsibility is to the doctors, nurses and patients, to mothers and fathers and all others who use our products...
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...Mission : Johnson & Johnson (NYSE: JNJ) is a global American pharmaceutical, medical devices and consumer packaged goods manufacturer founded in 1886. The company's founder wrote a statement of its values called "our Credo" in 1943 and this still dominates the company's culture. Firstly, “We believe our first responsibility is to the doctors, nurses and patients, to mothers and fathers and all others who use our products and services”.Secondly,” We are responsible to our employees, the men and women who work with us throughout the world. Everyone must be considered as an individual and we must respect their dignity and recognize their merit. Compensation must be fair and adequate, and working conditions clean, orderly and safe. We must be mindful of ways to help our employees fulfil their family responsibilities”. Thirdly,”We are responsible to the communities in which we live and work and to the world community as well”. We must be good citizens - support good works and charities and bear our fair share of taxes. We must encourage civic improvements and better health and education. We must maintain in good order the property we are privileged to use, protecting the environment and natural resources. Our final responsibility is to our stockholders. Our suppliers and distributors must have an opportunity to make a fair profit” . ( “COMPANY STATEMENT” ) Source: http://www.oup.com/uk/orc/bin/9780199296... EXECUTIVE SUMMARY: In 1886 , Three brothers, Robert Wood...
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...ABOUT THE COMPANY 1. Details about the promoters of the company. Johnson and Johnson 2. Vision and Mission of the company credo, it states that as a company, their first and number one responsibility is to the doctors, nurses, patients, mothers, fathers, employees, communities, and stockholders. Their credo challenges them to put the needs and well-being of the people they serve first. * Provide high quality products for doctors, nurses, patients, and parents. * Treat employees as individuals with opportunities for development and advancement. * Support good works and charities in each community . * Meet the responsibility to the stockholders by making a sound profit, while continuing research and development. 3. Historical background of the company Three brothers, Robert Wood Johnson, James Wood Johnson and Edward Mead Johnson, found Johnson & Johnson in New Brunswick, New Jersey, U.S in 1886 Their initial focus was on bandages, sterile sutures, wound care and baby products. Their first-aid kits, originally sold to railroad workers, would later become a staple in nearly every household. They also sold women’s health products, including sanitary protection products and maternity kits with first-aid products to assist in home births. Johnson and Johnson in India Johnson & Johnson spread its root into India 67 years ago. Since then, the Company has brought many innovative ideas, products and services to improve the health and...
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...Introduction of Johnson &Johnson As a consumer, you’re familiar with the name. The rich heritage brands from their operating companies have helped people around the world, and chances are your own family has trusted their products for generations. Johnson & Johnson is the world’s most comprehensive and broadly based manufacturer of health care products in the industry. Their products touch the lives of nearly a billion people every day. Their operating companies around the world compete in consumer, pharmaceutical, and medical devices and diagnostics markets. With approximately 120,000 employees working in more than 250 companies in 57 countries, Johnson & Johnson has the skills and resources to tackle the world’s most pressing health issues. Few companies have the consistent track record of public trust, annual sales increases, double-digit earnings increases, and steady dividend increases of Johnson & Johnson. Working together across various business segments, Johnson & Johnson believe that they can accelerate growth through a dedicated focus on the intersection of existing capabilities, customer need, and emerging trends. Because of their wide-ranging technological expertise and global presence, cross-business collaborations provide an enormous opportunity to address unmet health care needs and to enhance competitive advantage for their Family of Companies. Success in these markets requires an understanding of local cultures derived only from local experience...
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...Johnson & Johnson’s Quality Catastrophe Individual Case Study Analysis Johnson & Johnson is a multinational medical devices, pharmaceutical, and consumers packaged goods manufacturer founded in 1886. Until 2005, this corporation ranked at the top of Harris Interactive National Corporate Reputation survey, and was also ranked as the world’s most respected corporation by Barron’s Magazine. This global corporation is made up of 250 subsidiary companies with operations in over 57 countries and products sold in over 174 countries. Due to product recalls, fines for pharmaceutical marketing practices, litigation with shareholders, and other legal issues, Johnson & Johnson’s reputation has been adversely affected in recent years. SWOT Analysis Strengths Johnsons & Johnson is a corporation that has achieved economies of scale and scope. It has a strong global presence represented by over 250 subsidiary companies operating all over the globe. Overall, it has an excellent product portfolio and high quality offerings that satisfies consumer needs on a daily basis. This corporation has placed a huge emphasis on establishing a strong customer base, with recognition for brand loyalty and image. Johnson & Johnson has been a leader in pharmaceuticals and medical devices, which accounts for almost 80% of the corporation’s total revenues. One of its major strengths is the importance of the pharmaceutical and medical advances the company has contributed to society. Some...
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...A Johnson and Johnson Crisis Amanda Ferri University of Phoenix Darci DelTorto Tuesday, June 5, 2012 In 1955, McNeil Pharmacies introduced the first aspirin-free pain reliever for children and called it Tylenol Elixir. In 1959 when Johnson and Johnson acquired the brand, the medicine’s net sales were $11.4 million and by the following year the prescription only drug was approved for sale over the counter. In 1961, the sales of Tylenol kept rising and options for the drug kept growing and now included an adult regular strength formula. By 1975 Tylenol’s line of products became the 5th best selling brand of any analgesic in the United States. This also helped Johnson and Johnson create the McNeil Consumer Products Division to manage the rapidly expanding over the counter business. A year passes and McNeil launches the next best product of the company’s name, Tylenol Extra Strength tablets, becoming the number 1 branded over the counter analgesic in the U.S. Some say so much success comes at a price, and for Tylenol and Johnson and Johnson, the price became high in 1982. September 29 of 1982 was the start of a major country-wide scare concerning Tylenol Extra Strength. After becoming McNeil’s best selling product, Tylenol was held responsible for killing 7 people in the Chicago area. After investigations and autopsies, authorities found that the pills taken by these 7 people were laced with cyanide. Cyanide is a fast acting, very harmful even chemical. It can be found in...
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...Universidad Interamericana de Arecibo MBA Program of Business and Administration Johnson & Johnson: Company Analysis By: Rosemarie Aviles I. INTRODUCTION The purpose of this paper is to analyze the financial performance of Johnson & Johnson. The analysis includes a brief background of the company, discussion over the economic outlook and market competition, followed by its financial performance, and article that talks about the company’s portfolio and credit ranking. Comments about the company’s future are also included along with the conclusion and references. II. BACKGROUND Johnson & Johnson Corporation was founded in 1886 by Robert Wood Johnson, an American entrepreneur and industrialist. Inspired by the developing scientific understanding of proper sanitation and germ theory, Johnson aimed to make antiseptic surgical procedures easier. Through numerous targeted acquisitions and research over the next century, the company steadily diversified its business to encompass pharmaceuticals, medical devices, and consumer packaged goods. Johnson & Johnson (J&J) is one of the largest healthcare firms in the world and one of the most diversified. Its operations are organized into three business segments: pharmaceutical, which generates 47 percent of revenues and 58 percent of operating profits; medical devices and diagnostics, which account for 36 percent of revenues and 31 percent of operating profits; and consumer, which contributes 17...
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...Johnson & Johnson study case Written by Bernd Muxel Table of content SWOT Johnson & Johnson…………………………………....…..…………………..….3 Market situation………………………………………………………..………………... 3 What to do in the Future……………………………………………………..……..…….4 List of literature……………………………………………..……………………..…….4 SWOT Johnson & Johnson Johnson and Johnson is known as the largest and most extensive healthcare producer on the planet. The company has divisions straight through consumer markets, pharmaceutical and professional medical markets. This means they have a wide variety of products to serve the people around the world. This variety allows Johnson and Johnson to have a great product diversification and not focus just on one product. The pharmaceutical, Medical Devices & Diagnostics and Consumer Health division try to act independent, this allows a greater range of choice when It comes to the decision process. One of the strength is that Johnson & Johnson has a sustainable marketing arsenal, they can fall back upon a network of affiliates, which dispose a lot of expertise in sales and marketing as in some therapy areas. The company always tries to attract joint venture possibilities, with its global sales force. Johnson & Johnson also maintained a robust financial position by utilizing cash reserves to finance timely corporate acquisitions. ( http://marketingteacher.com/) The company possesses a global sales force which proves a strong global market. The sales went...
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...Johnson & Johnson Over the years Johnson & Johnson has grown substantially due to strategic acquisitions expanding in a wide range of product lines such as Neutrogena in 1994, DePuy in 1998 and Pfizer in 2006. Currently holding over 250 different businesses separated into three divisions: Pharmaceuticals, Medical Devices & Diagnostics, and Consumer products. Historically such divisions have thrived through the decentralized, entrepreneurship culture (Dess, Lumpkin, Eisner, & McNamara, 2014). Nonetheless, impediments such as numerous product recalls, detrimental litigations has now placed Johnson and Johnson’s reputation in jeopardy. Subsidiary McNeil Consumer Healthcare has had a long history of product recalls, mostly know for the biggest children’s drug recall however coming out with little impact on the corporate reputation. Strong company ethical behaviour was the key to the smooth mergence. Johnson & Johnson showed them prepared to bear the short-term cost in the name of consumer safety. Strongly establishing a basis for trust within customers. On the other hand DePuy’s Orthopaedics unit hip replacement recall, has left not only over 10,000 lawsuits in the US, but has tarnished the name of such a trusted brand (Dess et al, 2014). Incubuses a slow ineffective response to series of problems that predominant in poor quality control inside some of the manufacturing plants. An unsuccessful corrective action plan needed to counter consumers‘ complaints and growing...
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...History and backgrounds Johnson and Johnson is an American multinational pharmaceutical, medical devices and consumer packaged goods manufacturer found in 1886. The corporation’s head quarter is located in New Brunswick, New Jersey, United States and its consumer division in being located in Skillman, New Jersey. It includes around 250 subsidiary companies operating in more than 57 countries and products sold in over 175 countries. Johnson and Johnson had worldwide pharmaceutical sales of $16 billion for the third quarter of the calendar year of 2011 (Newswire, 2011).Company’s main three founders were Robert wood Johnson, James wood Johnson, Edward mead Johnson. Company have approximately 111,000 employees globally. Johnson and Johnson brand include numerous household names of medication and first-aid suppliers. Among it well known consumer product are the Band-Aid brand line of bandages Tylenol medication, Johnson’s baby products, beauty products, clean and clear facial wash. Johnson and Johnson there is no mission statement that hangs on wall. Instead, for more than 60 years, simple one page documents- the Johnson & Johnson Credo- has guided the company‘s actions in fulfilling its responsibilities to its customers, employees, the community and stockholders. Johnson and Johnson market leading brands in the baby care, skin and hair care, wound care and topical, oral health care, women’s health, over-the-counter medicines, nutritionals and vision care, beauty care...
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...manufactured by McNeil Consumer Healthcare, a subsidiary of Johnson & Johnson. The product was laced with cyanide. At the time Johnson & Johnson claimed no responsibility of the poisoning tablets but it did recall all its products from shelves of drug stores and supermarkets and replaced the capsule drug with tablets. The company came very openly and declared that they would never sell unsafe products to its customer. Johnson & Johnson at the time was praised in the media for the way they handled the recall and the company became a model for how to handle an ethical crisis. If we see the recent challenges that are happening to Johnson & Johnson is hard to believe that the company’s statement that gave back almost 30 years ago has not held true, the statement followed: “We believe our first responsibility is to the doctors, nurses and patients, to mothers and fathers and all others who use our products and services. In meeting their needs everything we do must be of high quality”. Below I will go through several lawsuits that Johnson & Johnson was faced in 2011 that made the company announced recently that it had recorded 3.3 billion charges and special items for fourth quarter 2011 in order to provide a reserve for probable losses from product liability lawsuits. All the lawsuits have in common the fact that all of them are manufacturing-quality errors. 1. On December 21, 2011 was announced that Johnson & Johnson must face a lawsuit claiming it misled investors about...
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