Managers at each level of the organization use a type of SWOT analysis to identify strategies that will best position the company to achieve its mission and goals. The first step in a SWOT analysis is

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Johnson & Johnson Outline

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Brief History of Company

Three brothers formed Johnson & Johnson in 1886. They include Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson. The inspiration to form the company was based on Lister's antiseptic methods. The newly founded entity focused on developing methods for sterilization and surgical dressings, hoping to develop an efficient sterilization approach (Reed, 2020). In 1887, the company was officially incorporated as Johnson & Johnson and in the following year produced ready-made first aid kits and published a guide for treating injuries. The first-aid kit was an instant success, especially among industrial workers and general consumers.

Afterward, the company would release maternity kits and baby powder products. The aim was to expand the product line to include baby and maternity products. The maternity kits were intended to make childbirth safer, while the baby powder was a success and is still for sale today (Reed, 2020). Johnson & Johnson consistently built the reputation of developing healthcare and sanitation products. In the 1930s through to the 50s, the company developed its modern corporate structure. At the time, CEO Robert Wood Johnson II decentralized the company into smaller units that all report to the Johnson & Johnson corporation. The rationale was that each unit would specialize.

The real distinguishing factor in Johnson & Johnson came when the company started to purchase pharmaceutical research companies. The first two are Cilag Chemie AG and McNeil Laboratories. Afterward, Jansenn Pharmaceutica was added under the umbrella leading to the creation of the company's pharmaceuticals and research division (Pharmaphorum, 2021). These acquisitions enabled the company to develop its drug product lines. The company has steadily developed in research and development, leading to innovations such as drug treatments for schizophrenia and the first coronary stent (Reed, 2020).

Milestones from The Company’s History

Johnson & Johnson's first milestone was the creation of commercial first aid kits. The kits improved the condition of railroad workers and workers from other industries. The first-aid kit was an instant success and has become the standard for treating injuries on the scene (Pharmaphorum, 2021). It is a significant contribution and innovation in healthcare that still offers benefits in the 21st century. The invention also propelled the brand name of Johnson & Johnson. It provided the company with a platform for developing and the success of other products such as maternity kits and the baby powder label.

The second milestone for Johnson & Johnson is the incorporation of Janssen into the corporation. Janssen provided the company with innovation and vital pharmaceutical research. Janssen's profile remains high, and the company is still one of the world's leading companies in pharma research. Within Johnson & Johnson, Janssen is split into Research & Development, Janssen Diagnostics, and Janssen Healthcare Innovation. Janssen has developed successful drugs, including Reminyl for Alzheimer's and Immodium, a diarrhea treatment.

The third Johnson & Johnson milestone is the development of its COVID-19 vaccine. The pandemic's start in 2020 found the company established and with adequate resources to begin research on a vaccine. Unlike the double dose vaccine from most of its competitors, Johnson & Johnson's vaccine is a single dose. The development of the COVID vaccine emphasized the dominant role the company plays in the pharmaceutical industry.

Information Sources

The first source of information is the Johnson & Johnson website. The website contains relevant information regarding the company's status, its initiatives, and information regarding products and suppliers. The second information source is the Drug Information Database from Drugs.com. The information contained in the database is sourced from independent suppliers of medical information, such as the American Society of Health-System Pharmacists. The website has information regarding drugs produced by Johnson & Johnson and its subsidiaries, such as Janssen. The last source is Statista which contains relevant Johnson & Johnson statistics such as revenue, growth, and sales.

Unique Business Opportunity

The unique opportunity for Johnson & Johnson is its single-dose COVID vaccine. While vaccines from competitors such as Pfizer and Moderna require two doses, the company has developed a single dose shot, attracting individuals who want to avoid the hassle of seeking two doses. The COVID pandemic is still ongoing, with new variants emerging. Johnson & Johnson should increase vaccine production while researching the new strains. The outcome will increase the company's competitiveness and appeal.

Function of Management Needed for Opportunity

The primary managerial support needed for the opportunity is support. An increase in vaccine production and rollout requires efficient planning and organization for efficiency. Moreover, management should ensure the company has adequate financial resources to fund research and support manufacturing efforts. Staffing is also vital; thus, management should ensure they acquire the talent to promote successful outcomes in both research and manufacturing.

References

Pharmaphorum. (2021). A history of Johnson & Johnson. Retrieved January 23, 2022, from https://pharmaphorum.com/views-analysis-sales-marketing/a-history-of-johnson-johnson/

Reed, E. (2020). History of Johnson & Johnson: Timeline and Facts. Retrieved January 23, 2022, from https://www.thestreet.com/personal-finance/history-of-johnson-and-johnson