Strategic Management Plan - Control and Evaluation Methods for Johnson&Johnson

RUNNING HEAD: Project Mission and Vision Statement Page 1

Project Mission and Vision Statement

Vanessa Kinney

Rasmussen College

Author Note:

This paper is being submitted January 15, 2017, for Management Capstone B498

PROJECT MISSION AND VISION STATEMENTS

The company Johnson and Jonson has been around for over 130 years, and they help individuals in many different industries as well as families. Their investment haven has been a significant part of the market for nearly 70 years. The enterprise was founded in the 1880's and started becoming involved with the stock exchange in 1994. Johnson and Johnson's shares distributed 8.7% total return for shareholders unlike the 7.3% total return given out by S&P 500.

The company considers their mission and vision statement their "Credo." This Credo states that they are there to served doctors, nursed, a patient. They promise for reasonable prices, prompt delivery, and product satisfaction. The company promises fair, safe and respectful employment conditions with competitive pay. Johnson and Johnson are involved in the community and hopes that their employees do the same. The last part of the company Credo mentions their financial responsibility they have towards their shareholders; the business must continue to make money; by contributing innovations, research and improvements the company has an excellent chance of being around for many years to come.

Johnson and Johnson were recognized for many different achievements in 2015, here are just a few; Worlds most admired company, 100 best companies for working mothers top 50 companies for Latinas and much more. The company acquired Ethicon Endo-Surgery INC. in 2008, Cru cell a biotech company based in the Netherlands in 2010. In 2016 Johnson and Johnson stated that they plan to purchase Abbott Medical Optics from Abbott Labs, this would be their entrance into vision care.

The company did face some tough times throughout their time, in 1982 the company faced their first recall. It was the first major recall in American history. Over 31 million bottles of Tylenol extra strength were recalled because they were purposely laced with cyanide, a chemical made of carbon. This recall caused every pharmaceutical company to revamp they're over the counter medicines. The case was unfortunately never solved, but the company's quick response and action saved their reputation.

In 2010, Johnson and Johnson were involved in two separate product recall cases. The first one was the recall of children's over the counter medicines such as Zyrtec, Tylenol, Benadryl, and Motrin. The products concentration and a number of ingredients were not correct. The other recall were the prosthetic hip replacements. Customers were suffering from reactions to the metal and tissue was being destroyed.

The company was sued in 2010 for illegally advertising the product Risperdal; they ended up settling with a hefty sum in the Billions. And the most recent incident just occurred in February 2016. A woman who was using Johnson and Johnson's baby powder for years died from ovarian cancer, blaming it on the talc in the powder. The family claims that the baby powder caused her to have ovarian cancer, they settled for $72 million to pay for pain and suffering the family has had to endure.

Given all these incidents Johnson and Johnson continue to thrive and make money. They continue to be Americas number one choice in baby healthcare products. The company must continue to innovate and has plans to make the world healthier by 2020. They launched a Citizenship and Sustainability goals, to include a new vision of health and new ways to make everyone healthier. "With the ideas, we generate, products we make, and healthy habits we create, we can do more than ever before," (2016-Johnson and Johnson).

References:

Johnson&Johnson, 2015, Performance Awards and Recognition, Jnj.com

http://www.jnj.com/caring/citizenship-sustainability/performance/awards-and-recognition

Downie, R., 7/10/16, Behind Johnson and Johnsons 91.5% rise in 10 years,

http://www.investopedia.com/articles/markets/071016/behind-johnson-johnsons-915-rise-10-years-jnj.asp