The innovative ideas, along with the effective marketing and managerial strategies at Johnson & Johnson have made the company thrive for over a century. The products, services, and ideas of J&J have touched the lives of billions of people around the globe. In addition, the consistent approach to managing the Business, and the character of employees, has given Johnson & Johnson the opportunity to enjoy success in an extremely competitive pharmaceutical industry. Some of the strategies that are used at J&J include, continually improving product quality and speed of creation, controlling factors of production, expanding your market, doing things differently, and having a well focused goal.
• Continually Improving Product Quality and Speed of Creation
To make sure that it is successful, J&J has put together a system where the company could keep improving the quality of products, as well as other services that they offer. “Johnson & Johnson’s establishment of a bacteriological laboratory in 1891 enabled it to be on top of the competition in product quality and creation” (J&J Business Strategies). It’s extremely important to be prompt on the creation and introduction of a product, because as a company, it crucial that products hit the market earlier than the competition. Product quality is also vital to the success of the particular product and for the reputation of the company, because it could potentially give the company a competitive advantage over its rivals. “Achieving superior quality and innovation is integral to achieving superior responsiveness to customers”(Hill and Jones P89).
• Controlling Factors of Production
If sources of raw materials are not controlled by a business, it could potentially threaten the well bei...
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...4.17 billion in 1999. Net profits had nearly tripled in the last decade for J&J. by the year 2000, “J & J joined with General Electric Company's GE Medical Systems unit, Baxter International Inc., Abbott Laboratories, and Medtronic, Inc. in a venture to create a global Internet-based purchasing exchange for healthcare providers” (Company Histories).
Works Cited
“Johnson & Johnson Business Strategies” Business Strategies . 14 September 2010. Web. 20 April. 2011. .
Hill, Charles; Jones, Gareth. Strategic Management. Mason: South-Western Cengage Learning, 2010. Print.
“International Directory of Company Histories, Vol. 36. 2001”. Johnson & Johnson Web. 22 April 2011. < http://www.fundinguniverse.com/company-histories/Johnson&Johnson-Company-History.html>.
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill Company.
The Procter and Gamble Company. (2013, November 17). Company Strategy. Retrieved March 22, 2014, from http://www.pginvestor.com: http://www.pginvestor.com/GenPage.aspx?IID=4004124&GKP=208821
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Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing (9th ed.). New York, NY: McGraw-Hill.
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that made the company one of the most recognized companies of the world. The dynamic