The Johnson & Johnson company is known for its business values, laid out in a credo written by company founder Robert Johnson in 1943. Studying the credo, which still directs the operation of this major corporation, is a good way to learn about business ethics and morals. This is an especially important company credo to study, as it led the Johnson & Johnson to avoid disaster in the 1980s.
Instructions
1. Read the Johnson & Johnson credo carefully. Each paragraph outlines a responsibility the company has, and how it plans to address it. Paragraph one discusses the company's responsibility to consumers. Paragraph two, the responsibility to its employees. Paragraph three, responsibility to the communities it serves. Paragraph four talks about the responsibility to stockholders.
2. Consider whether the values outlined in the nearly 70-year-old credo have carried over to modern society. Think about any changes or amendments you'd make and whether this credo would work for you if you owned a business.
3. Write a similar credo. Use the format of the Johnson & Johnson credo to outline the values by which you'd run a business.
4. Study the 1982 Tylenol tampering scare. Johnson & Johnson CEO James Burke turned to the company credo to handle this potentially business-wrecking fiasco. Decisions were made based on the values set out by the company founder nearly 40 years prior. It initiated a massive recall on Tylenol products. The move cost the company more than $100 million, but helped it to retain the trust of the consumer and actually come out a stronger company in the end.
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