Johnson & Johnson: Our Credo
Johnson & Johnson's vision is to provide scientifically sound, high quality products and services to help heal, cure diseases, and improve the quality of life. This commitment drives the overall direction of the company to experiment with new ideas, to research and develop innovative programs, purchase new equipment and facilities, and launch new products. Johnson & Johnson does not have a mission statement. Instead, a one-page document entitled Our Credo defines the corporation's responsibility to costumers, employees, the community, and stockholders. Johnson & Johnson is committed to discovering new ways to improve their customers' quality of life, a vision that originates from the company's Credo.
The Credo instructs management to make just and ethical decisions. Johnson & Johnson's Credo was put to the test in 1982, when a product of the McNeil Consumer & Specialty Pharmaceuticals was contaminated with cyanide. Fairness is another value percent in Johnson & Johnson's Credo. This decision reflects a company whose guiding principles are deeply integrated throughout the organization. The company voluntarily recalled the product to avoid further loss of life and suffered a loss of $100 million. For example, it states that Johnson & Johnson should strive to maintain reasonable prices, not only to benefit the customers, but also to give suppliers and distributors an opportunity to make a profit. Finally, Johnson & Johnson and Companies feel that if they operate according to these principles the stockholders will receive a fair return. In this document, the company declares its responsibility to manufacture a high quality, safe, and affordable product. The Credo embodies Johnson & Johnson's core values and ethical principles. The company feels a strong sense of accountability and responsibility to all who use its products and services. As a family, they sustained a significant monetary loss; with courage, they went back to the lab and improved their product. It also encourages its employees to be good citizens. The Johnson & Johnson Family and Companies made the decision to recall and discontinue TYLENOL, not to prevent lawsuits, but rather to prevent further loss of life. Without a doubt, they have embraced their Credo.
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