I need tools3-12 on the excel sheet to be reworded and page breaks to be taken out. after I need both the excel and PDF of the excel.
cover sheet
Project Analysis By:
Matthew Pankey
BBA in Finance
2011-2021
MGT 4810 W1-W2 Fall 2022
Executive Summary
Executive Summary
Johnson & Johnson is a multinational American company with headquarters in New Bunswick, New Jersey. Medical devices, pharmaceuticals, and consumer health are the three main business sectors of Johnson & Johnson, which was founded in 1886. J&J is a Fortune 500 firm with about 250 subsidiary businesses that operate in more than 60 countries and sell goods in more than 175 nations. To stand out from rivals, Johnson & Johnson relies on its products and innovation.
With the help of this company analysis, students can examine every facet of Johnson & Johnson’s operations as consultants. This pertinent data may be used to shed light on how J&J might enhance internal and external operations while enhancing its financial performance and stockholder value. The Strategic Management textbook and other trustworthy sources, such as Johnson & Johnson’s annual reports, investor website, and news releases, were used to compile all of the information for this research. Through this capstone project, students can examine pertinent corporate finances and gain knowledge about the potential pitfalls of their chosen career pathways.
I was able to get substantial Microsoft Excel knowledge with this assignment, which will help me as I begin to improve my career-related skills. Due to the significant study and analysis required to create each tool, I also had to learn good time management techniques. When examining a company’s financials and annual reports to estimate its value, I also feel as though I learned knowledge.
Table of Contents
Table of Contents
Tool 1:
Historical Analysis
Page 4
Tool 2:
Mission Statement Analysis
Page 5
Tool 3:
Remote Environment Analysis
Page 7
Tool 4:
Competitive Profile Matrix
Page 12
Tool 5:
Internal Factor Evaluation
Page 14
Tool 6:
Cohesion
Page 17
Tool 7:
Generic Strategy
Page 20
Tool 8:
Perceptual Mapping
Page 22
Tool 9:
Globalization
Page 23
Tool 10:
Financial Ratios and Benchmarking
Page 25
Tool 11:
SWOT
Page 30
Tool 12:
Financing Recommendations for SWOT
Page 35
Tool1
Historical Analysis
Purpose: Identify which strategies have historically been successful and how they have affected revenue by relating recent strategic events inside the company to consumer health, medicines, medical devices, and overall revenues. Findings from this research will be used in a SWOT analysis to identify strengths and weaknesses. Data was taken from yearly reports by Johnson & Johnson.
Years
Gross Revenue
Consumer Health
Pharmaceutical
Medical Devices
2011
$82,584
$14,053
$45,572
$22,959
2012
$82,059
$13,898
$42,198
$25,963
2013
$81,581
$13,853
$40,734
$26,994
2014
$76,450
$13,602
$36,256
$26,592
2015
$71,890
$13,307
$33,464
$25,119
2016
$70,074
$13,507
$31,430
$25,137
2017
$74,331
$14,496
$32,313
$27,522
2018
$71,312
$14,697
$28,125
$28,490
2019
$67,224
$14,447
$25,351
$27,426
2020
$65,030
$14,883
$24,368
$25,779
2021
$93,775
$14,635
$52,080
$27,060
Recent Strategic Events2, 3
March 2011: Acquires Crucell, a biopharmaceutical company specializing in vaccines and antibodies to fight disease.
February 2012: Announces Alex Gorsky as the new CEO.
June 2012: Acquired Synthes, Inc., a premier global manufacturer of orthopedic devices to create the worlds most innovative and comprehensive orthopedics business
March 2013: FDA approved INVOKANA for the treatment of adults with type 2 diabetes.
November 2014: Announced the acquistion of Alios BioPharma, Inc, a privately-held clinical-stage biopharmaceutical company.
November 2016: The FDA approves DARZALEX for the treatment of multiple myeloma.
April 2016: Acquires NeoStrata Company Inc., a leader in dermo-cosmetics.
February 2017: Acquires Abbott Medical Optics.
February 2018: FDA approves ERLEADA for treatment of patients with prostate cancer.
April 2019: Announces completion of acquisiton of Auris Health, Inc to enable and deliver digital surgery.
April 2020: FDA approves IMBRUVICA for treatment of patients with chronic lymphocytic leukemia (CLL).
October 2020: Acquired Momenta Pharmaceuticals, Inc to broaden leadership in autoimmune diseases and provide a major catalyst for sustained growth.
February 2021: COVID-19 vaccine authorized by U.S. FDA for emergency use.
November 2021: Announces split into two publically traded companies.
January 2022: Announces partnership with Microsoft to further enable digital surgery solutions.
December 2021, DePuy Synthes held its first-ever Facial Gender Affirmation Surgery Summit to help educate more surgeons about procedures that are part of facial feminization surgery.
Sources:
1https://www.jnj.com/about-jnj/corporate-reports
2https://www.jnj.com/media-center
3https://ourstory.jnj.com/timeline
Revenue Streams1
Gross Revenue 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 82584 82059 81581 76450 71890 70074 74331 71312 67224 65030 93775 Consumer Health 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 14053 13898 13853 13602 13307 13507 14496 14697 14447 14883 14635 Pharmaceutical 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 45572 42198 40734 36256 33464 31430 32313 28125 25351 24368 52080 Medical Devices 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 22959 25963 26994 26592 25119 25137 27522 28490 27426 25779 27060
Tool2
Mission Statement Analysis
Purpose: To assess Johnson & Johnson’s mission statement and offer suggestions for strengthening the parts that it is lacking. will, in general, offer insight into the organization’s worth, caliber, and business plan to present the mission statement with clarity and succinctness.
Mission Statement1
10 Components of a Mission Statement
Components will be measured on a scale of 1-5 with 5 being the highest.
1. Customers
1
2
3
4
5
2. Products
1
2
3
4
5
3. Markets
1
2
3
4
5
4. Technology
1
2
3
4
5
5. Survival
1
2
3
4
5
6. Philosophy
1
2
3
4
5
7. Self-concept
1
2
3
4
5
8. Public Image
1
2
3
4
5
9. Consumers
1
2
3
4
5
10. Quality
1
2
3
4
5
Sources:
1https://www.jnj.com/credo/
Strengths/Weaknesses of Likert Scale Rating
1. Customers who may be broadly categorized as patients, doctors, nurses, parents, and careers were given a rating of three.
2. Products were rated 1 since they weren’t listed
3. Markets were given a 2 since there was little discussion of how many people they employed internationally and no data on the number of markets, nations, or industries
4. Technology was given a 2 since the employed technologies lacked depth.
5. Survival was rated at three since it was noted that the business needed to generate revenue and how it would do so.
6. The company’s overall philosophy and guiding principles are described in the mission statement as a whole, hence philosophy is awarded a grade of 4.
7. Self-concept was given a score of 1 because it wasn’t included in the goal statement.
8. The company’s public image was given a 2 and its responsibility to its communities was noted.
9. Because customers and the company’s global market were discussed, consumers received a 3 overall.
10. Quality received a score of 4, as both high-quality items and affordable prices were acknowledged.
Proposed Mission Statement Changes
“We believe that our first responsibility is to the consumers of our products and services, which includes patients, doctors, nurses, parents, and everyone else. The highest standards must be applied to all we do in order to satisfy their needs. We must always strive to provide value, reduce costs, and maintain fair rates. Customer orders must be correctly and swiftly processed. We must offer our business partners a fair shot at success.
Our employees across the world are bound by our commitments. We must establish an environment at work where everyone is respected and treated as an individual. Their individuality, moral character, and merit must all be honored. They must feel safe, pleased, and that their job there has value.
Workplaces must be orderly, safe, and clean, and wages must be fair and adequate. We must encourage the health and happiness of our staff members and help them fulfill their responsibilities to their families and other loved ones. Employee complaints and suggestions must be encouraged. There must be equitable opportunities for employment, professional growth, and progress for all who qualify. We need to create highly capable leaders who act morally and justly.
Both the global community and the local communities where we live and work owe us duties. We must contribute to people’s health by providing greater access and care in more places throughout the world. Paying our fair share of taxes, supporting charity causes, enhancing health and education, and assisting good deeds are all part of being decent citizens.
To protect the environment and natural resources, we must maintain the property we have the privilege of enjoying. To our stockholders is what we owe everything. Businesses must earn a sizable profit. We must put novel ideas to the test. Future investments must be made, research must be continued, original ideas must be developed, and errors must be made good. It is required to purchase new equipment, construct new facilities, and introduce new products. Reserves must be accumulated in order to be prepared for difficult times. When we conduct our business in line with these principles, the stockholders should obtain a fair return.
As the biggest and broadest-based healthcare firm in the world, we feel that our first duty is to the patients, physicians, nurses, parents, and everyone else who uses our pharmaceutical, consumer health, and/or medical device goods and services in more than 175 countries. Using cutting-edge technology and research techniques, we must ensure that everything we do in order to suit their demands is of the highest caliber. We must continuously work to deliver value, cut expenses, and keep prices fair. Orders from customers must be processed properly and quickly. Our business partners must be given the chance to benefit fairly.
We have a duty of care to the more than 60 nations in which we have personnel. We need to create a workplace where everyone is treated with respect and taken as an individual. We must value and appreciate their uniqueness as well as their dignity and accomplishments. They must feel secure, content, and working there serves a purpose. Workplaces must be tidy, organized, and safe, and pay must be fair and sufficient. We must promote our employees’ health and wellbeing and assist them in carrying out their familial and other personal obligations. Employee concerns and recommendations must be welcome. For those who qualify, there must be equal opportunities for employment, growth, and promotion. We must produce highly competent leaders, and they must behave justly and morally.
We have obligations both to the local communities where we live and work and to the global community. We must encourage improved access to and care for individuals in order to promote their health. We need to be decent citizens by paying our fair amount of taxes, supporting charities and good deeds, and promoting improved health and education. The property we have the luxury of using must be kept in excellent condition so as to safeguard the environment and natural resources.
Our ultimate duty is to our investors. Businesses need to earn a healthy profit. We must test out fresh concepts. Research must be continued, creative initiatives must be created, future investments must be made, and mistakes must be compensated for. It is necessary to buy new machinery, build new facilities, and release new items. In order to prepare for bad times, reserves must be built up. We must take use of our size, scale, and intellectual property to keep a competitive edge. The investors should receive a fair return when we do business in accordance with these principles.
Tool3
Remote Environment Analysis1, 2, 3, 4
Purpose: To analyze Johnson & Johnson’s external environment to display the threats and opportunities of economic, social, political, technological, and ecological factors that may influence the choice of direction and action the company takes.
Economic Factors
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Opportunity
Threat or Opportunity
1
2
3
4
5
Economic Growth Rate
0.25
1.00
Opportunity
1.25
Foreign Currency
0.30
0.90
Threat
0.60
Inflation
0.10
0.20
Threat
0.10
Voltatility in Economy
0.25
0.75
Threat
0.50
Consumer Spending
0.10
0.30
Opportunity
0.40
Total
1
3.15
2.85
Threat
Explanation of Economic Factors
Since the COVID-19 pandemic, the healthcare sector’s economic growth rate has dramatically increased and is predicted to keep rising. The healthcare sector is steady since it is anticipated to expand as population increases and customer interest in their health and wellbeing increases. Due to currency fluctuations and the strength and weakness of the US dollar, the foreign exchange rate has an impact on the company’s revenues and costs. Despite efforts to mitigate these alterations, the oscillations could still be a challenge. Maintaining activities’ profitability is difficult when there is inflation. The effect is uncertain as long as inflation rates continue to rise. The ability of the corporation to maintain profit margins is also threatened by the economy’s volatility. Significant variations could have a detrimental effect on the operating
Political Factors
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Opportunity
Threat or Opportunity
1
2
3
4
5
Government Regulation
0.25
0.75
Threat
0.50
Customer Function
0.30
1.20
Opportunity
1.50
Tax Policy
0.10
0.30
Threat
0.20
Intellextual Property Law
0.25
0.75
Threat
0.50
Import and Export Regulations
0.10
0.30
Threat
0.20
Total
1
3.30
2.90
Threat
Explanation of Political Factors
The pharmaceutical and medical device parts of the business may be significantly impacted by government regulations as a result of healthcare reforms and mounting price pressure. The client function is given high marks because the company’s services and goods will always be in demand as a healthcare provider. Because of the potential susceptibility to extra tax liabilities, changes in tax policy may have a negative impact on profitability. The corporation cannot be convinced that it will be able to secure sufficient patent protection for new products and innovations given that public policy, both in the U.S. and internationally, is becoming increasingly negative toward intellectual property rights. License regulations for import and export could have an impact on product distribution and profitability.
Social Factors
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Opportunity
Threat or Opportunity
1
2
3
4
5
COVID-19 Pandemic
0.25
0.75
Threat
0.50
Talent/Workforce
0.30
1.20
Opportunity
1.50
Consumer Awareness
0.10
0.30
Opportunity
0.40
Public Perception
0.20
0.60
Threat
0.40
Accessibility
0.15
0.45
Opportunity
0.60
Total
1
3.30
3.40
Opportunity
Explanation of Social Factors
The COVID-19 pandemic has badly affected some parts of the company’s business operations, including production and the supply chain. It has also forced changes to other aspects of the company’s business operations. There is a chance that businesses will continue to suffer because to COVID-19’s continuous proliferation. A diversified workforce, along with the capacity to hire and keep talented, highly skilled workers, are essential components of success in the healthcare industry. Despite the fierce competition in the market for skilled individuals, the organization has been named one of the best places to work in 20223. This offers the chance to draw in creative workers at the top of their fields. As customers become more health-conscious, there is a chance to broaden the client base and sustain industry growth. public opinion Due to recent allegations of bribe, unethical business practices, and other allegations that could negatively impact the company’s consumer base, the company received a low score. Opportunities exist for the organization as telemedicine continues to rise and accessibility in healthcare becomes more crucial.
Ecological Factors
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Opportunity
Threat or Opportunity
1
2
3
4
5
Eco-Efficiency
0.25
1.00
Opportunity
1.25
Business Disruptions
0.30
0.90
Threat
0.60
Environment Regulations
0.10
0.30
Threat
0.20
Sustainability in Manufacturing
0.25
0.75
Threat
0.50
Sustainable Materials
0.10
0.30
Threat
0.20
Total
1
3.25
2.75
Threat
Explanation of Ecological Factors
By 2030, Johnson & Johnson plans to increase its eco-efficiency. The organization has endured minor expenses and interruptions to operations and processes since the COVID-19 epidemic, but has now recovered. The pandemic might still have a negative impact on business if it persists, though. Already committed to enhancing sustainability, any additional environmental regulation could negatively affect Johnson & Johnson’s capacity to accomplish this objective in a cost-efficient way. Producing high-quality medical devices with sustainable materials and achieving a more environmentally friendly manufacturing method with fewer emissions both pose risks to profitability.
Technological Factors
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Opportunity
Threat or Opportunity
1
2
3
4
5
Capacity to Innovate
0.25
0.75
Opportunity
1.00
Cbersecurity/Data Privacy
0.20
0.60
Threat
0.40
Telehealth
0.20
0.60
Opportunity
0.80
Research & Development
0.25
0.75
Opportunity
1.00
Cost of Production
0.10
0.30
Threat
0.20
Total
1
3.00
3.40
Opportunity
Explanation of Technological Factors
Innovation is crucial for the medical sector to stay competitive. With Johnson & Johnson’s dedication to innovation and existing initiatives like their supply chain technology, this is a chance to foster innovation in order to stay one step ahead of rivals. Along with technology, cybersecurity and data privacy continue to develop. Security and privacy are essential in the healthcare sector. If rules continue to tighten and grow harder to follow, this could be a threat. Since the COVID-19 pandemic, telehealth has expanded tremendously and has continued to do so. Technology development offers a special chance for research and development to advance innovations. Profit may be negatively impacted by rising production costs.
Sources:
1https://www.investor.jnj.com/annual-meeting-materials/2021-annual-report
2https://pestleanalysis.com/pest-analysis-of-healthcare-industry/
3https://www.medicaldesignandoutsourcing.com/employees-say-intuitive-boston-scientific-jj-medtronic-best-places-to-work-in-2022/#:~:text=2021%20Winners-,Employees%20say%20Intuitive%2C%20Boston%20Scientific%2C%20J%26J%2C%20Medtronic%20are%20among,places%20to%20work%20in%202022&text=Intuitive%20Surgical%2C%20Boston%20Scientific%2C%20Johnson,2022%20based%20on%20employee%20reviews.
4https://pestleanalysis.com/pest-analysis-of-healthcare-industry/
Tool4
Competitive Profile Matrix
The Purpose: To compare Johnson & Johnson to rivals using an analysis of the major performance indicators in the healthcare sector, with 1 being the poorest and 4 the best.
Key Performance Indicators1
KPI’s
Weight
Johnson & Johnson3
Pfizer4
Procter & Gamble5
Rank
Score
Rank
Score
Rank
Score
Employees Worldwide
0.1
4
0.4
2
0.2
3
0.3
Product Quality2
0.2
4
0.8
2
0.4
3
0.6
Customer Satisfaction2
0.15
3
0.45
2
0.3
1
0.15
Revenue
0.1
4
0.4
3
0.3
2
0.2
Pricing2
0.1
4
0.4
2
0.2
3
0.3
Market Share6
0.1
4
0.4
3
0.3
2
0.2
Customer Service2
0.25
4
1
2
0.5
3
0.75
Total
1
3.85
2.2
2.5
Explanation of KPI Ratings
Employees Worldwide: Johnson & Johnson is ranked number one because they have more than 130,000 employees. Procter & Gamble is second with approximately 97,000 employees. Pfizer is last with more than 79,000 employees.
Product Quality2: Johnson & Johnson, Pfizer, and Procter & Gamble all scored a 4.2/5 on product quality. Johnson & Johnson ranked first out of 6 amongst competitors, Procter & Gamble ranked second out of 6, and Pfizer ranked fourth out of six.
Customer Satisfaction2: Johnson & Johnson is ranked first because they scored a 33 on customer satisfaction. Procter & Gamble scored a 30. Pfizer scored a 27.
Revenue: Johnson & Johnson is ranked first because, in 2021, their total revenue was approximately $93.8 billion. Pfizer is second with $81.3 billion in revenue in 2021. Procter & Gamble is third with $19.7 billion in revenue for 2021.
Pricing2: Both Johnson & Johnson and Procter & Gamble both scored 4/5 for pricing. However, Johnson & Johnson was ranked first, so they have come in first over P&G. Pfizer is third with 3.9/5.
Market Share: Johnson & Johnson came in first with an 8.06% market share. Pfizer is second with 6.99%. Procter & Gamble is third with 6.92%.
Customer Service2: Johnson & Johnson is first with a 4.1/5 for customer satisfaction. Procter & Gamble is second with a 4/5. Pfizer is third with a 4/5, and a sixth out of six rankings compared to other competitors.
Sources:
1https://diagnostics.roche.com/nl/en/news-listing/2019/Five-key-performance-indicators-for-healthcare-organisations.html
2https://www.comparably.com/companies/johnson-johnson/competitors
3https://www.jnj.com/about-jnj/corporate-reports
4https://investors.pfizer.com/Investors/Financials/Annual-Reports/default.aspx
5https://www.pginvestor.com/financial-reporting/annual-reports/
6https://csimarket.com/stocks/competitionSEG2.php?code=JNJ
Tool5
Internal Factor Evaluation1, 2, 3, 4
Purpose:to assess how well Johnson & Johnson’s SMART objectives, future-oriented goals, and policies line up with their mission statement. On a scale of 1 to 5, strengths and weaknesses are ranked (5 being the highest).
Strengths
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Rating
1
2
3
4
5
Large Product & Services
0.10
0.40
0.50
Revenue
0.30
1.20
1.50
Research & Development
0.10
0.30
0.40
Global Operations
0.05
0.20
0.25
Customer Satisfaction
0.03
0.09
0.12
Customer Service
0.02
0.06
0.08
Product Quality
0.05
0.20
0.2
Consumer Recognition
0.05
0.20
0.25
Innovation
0.06
0.24
0.30
Skilled Employees
0.02
0.06
0.08
Strategic Partners
0.02
0.06
0.08
Profit Margin
0.10
0.30
0.40
Market Performance
0.10
0.30
0.40
Total
1.00
3.61
4.56
Weaknesses
Weight
Highly Unattractive
Mildly Unattractive
Neutral
Mildly Attractive
Highly Attractive
Present Rating
Future Rating
1
2
3
4
5
Intellectual Property Laws
0.01
0.02
0.01
Uneven Revenue Distribution
0.30
0.90
1.20
Pricing Pressures
0.10
0.30
0.40
Product Regulations
0.10
0.20
0.10
Kickback Allegations
0.05
0.10
0.05
Supply Chain Issues
0.05
0.15
0.10
Labor & Employment Practices
0.03
0.09
0.12
Competition
0.04
0.12
0.08
Public Perception
0.20
0.40
0.60
Cyber Security
0.05
0.10
0.15
Economic Instability
0.02
0.06
0.04
Kickback Allegations
0.03
0.06
0.09
Government Regulations
0.02
0.06
0.04
Total
1.00
2.56
2.98
Johnson & Johnson Strengths Summary
Johnson & Johnson is one of the largest healthcare companies worth billions of dollars with a global consumer base in 150+ countries. The company is easily recognized by consumers and trusted in the industry. With 2021 revenue of over $90 billion, and a 22.26% profit margin, J&J has had continued growth and steady market performance as well as high scores for product quality and customer satisfaction. They are dedicated to innovation and R&D. Johnson & Johnson seeks highly sought employees and is consistently pursuing strategic partnerships, mergers, and acquisitions to grow the organization.
Johnson & Johnson Weaknesses Summary
Due to kickback (bribery) allegations and other legal battles over the last few years, further government restrictions and product regulations pose a threat to the organizations’ ability to do business, and public perception has been negatively affected. Additionally, allegations of poor employment practices can impact adversely impact the organization as well. With competition increasing and pricing pressures mounting, the organization is challenged to find ways to decrease costs while still maintaining competitive product pricing and quality. With the U.S. and global economies in unpredictable states, business and supply chain interruptions may occur, including cybersecurity issues. Though J&J has high revenue and profit margins, the majority of its revenue comes from the pharmaceutical sector, with consumer health sales down. The company has announced plans to separate its consumer health sector into a separate company.
Sources:
1https://pestleanalysis.com/johnson-and-johnson-swot-analysis/
2https://swothub.com/johnson-and-johnson-swot-analysis/#Strengths_of_Johnson_and_Johnson_in_SWOT_Analysis
3https://www.comparably.com/companies/johnson-johnson/competitors
4https://www.investor.jnj.com/annual-meeting-materials/2021-annual-report
Tool6
Cohesion
Purpose: to assess whether Johnson & Johnson’s future-focused objectives, SMART goals, and policies are consistent with their mission.
Mission Statement1
We believe our first responsibility is to the patients, doctors and nurses, to mothers and fathers and all others who use our products and services. In meeting their needs everything we do must be of high quality. We must constantly strive to provide value, reduce our costs and maintain reasonable prices. Customers’ orders must be serviced promptly and accurately. Our business partners must have an opportunity to make a fair profit.
We are responsible to our employees who work with us throughout the world. We must provide an inclusive work environment where each person must be considered as an individual. We must respect their diversity and dignity and recognize their merit. They must have a sense of security, fulfillment and purpose in their jobs. Compensation must be fair and adequate and working conditions clean, orderly and safe. We must support the health and well-being of our employees and help them fulfill their family and other personal responsibilities. Employees must feel free to make suggestions and complaints. There must be equal opportunity for employment, development and advancement for those qualified. We must provide highly capable leaders and their actions must be just and ethical.
We are responsible to the communities in which we live and work and to the world community as well. We must help people be healthier by supporting better access and care in more places around the world. We must be good citizens support good works and charities, better health and education, and bear our fair share of taxes. We must maintain in good order the property we are privileged to use, protecting the environment and natural resources.
Our final responsibility is to our stockholders. Business must make a sound profit. We must experiment with new ideas. Research must be carried on, innovative programs developed, investments made for the future and mistakes paid for. New equipment must be purchased, new facilities provided and new products launched. Reserves must be created to provide for adverse times. When we operate according to these principles, the stockholders should realize a fair return.
Future Oriented Goals2
1)
A world where the current and future healthcare workforce has the necessary competencies to deliver high-quality healthcare.
2)
A world where all people have healthy places to live, work and play.
3)
A world where every woman and child survives and has the opportunity for a healthy future.
4)
A world where safe, essential and timely surgical care can be accessed by all to save lives, prevent disability, promote economic growth, and reduce social marginalization.
5)
A world where innovations and holistic health solutions prevent, control, and eliminate global disease challenges and epidemics.
Analysis of Future Oriented Goals
Johnson & Johnson’s future goals are mostly aligned with the mission statement. The first goal regarding the training and competency of the healthcare workforce was briefly mentioned in the mission statement as the development and advancement of employees. The eco-friendliness goal aligns with the mission statement as protecting the environment and natural resources were mentioned. Controlling global disease and women’s health were not included in the mission statement but innovative solutions were. The goal for safe surgical care aligns with the mission statement due to the mention of customers deserving prompt and accurate care.
SMART Objectives2
1)
By 2030, 650,000 health workers will have received training to better deliver quality healthcare.
2)
By 2030, 60 million citizens living across 30 cities will have benefited from climate and air quality actions that have the potential to positively impact public health.
3)
60 million women and children will have received support and tools to enable a healthy future by 2030.
4)
By 2030, 50 million people will have had access to safe, essential, and timely surgical care.
5)
175 million individuals will have benefited from Johnson & Johnson solutions that prevent, control, and eliminate global diseases by 2030.
Analysis of SMART Objectives
Johnson & Johnson’s SMART goals are partially aligned with its mission statement. The first objective regarding workforce education and quality is aligned with the commitment in the mission statement to the development and advancement of those qualified. The third objective is not mentioned in the mission statement. however, the fourth and fifth objectives are mentioned in the mission statement as needs to provide accessible healthcare and to continue innovations.
Policies3, 4
1)
There must be equal opportunity for employment, development, and advancement for those qualified. We must provide highly capable leaders and their actions must be just and ethical.
2)
Employees are required to adhere to Company-wide programs, and to be familiar with and comply with environmental laws and regulations that relate to our specific work responsibilities. This includes complying with regulations related to the reporting, approval, and registration of chemical ingredients used in our production and products.
3)
We strive to provide an equal opportunity for women and their children to access quality care, information, and education to ensure the continued health, happiness, and prosperity throughout the course of their lives.
4)
We must help people be healthier by supporting better access and care in more places around the world.
5)
At Johnson & Johnson, we believe strengthening health systems is essential to achieve a much-needed transformation in hea
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Management and Leadership in Nursing
Personal Review of Management and Leadership in Nursing
Using your textbook (ATTACHED BELOW) and the results of your personality test, you will answer the questions below in narrative form (no Q & A and no bulleted lists). Please follow all the APA 7th edition rules. Instructions:
Take the Myers-Briggs Type Indicator assessment to examine your individual strengths and experiences in preparation for assuming management and leadership roles. (PERSONALITY RESULTS ATTACHED BELOW)
It should be 5-6 pages of the body (not including the cover and reference page) using the headings and corresponding prompts below.
Your work should be sourced with two (2) scholarly references within the last five years.
Be APA, 7th edition format and citation style.
Template
1. Leadership and Management Theory
How can you apply a leadership and management theory to achieve high quality nursing care for your patients and collaborate effectively with your health care team? Identify the citation(s) for the leadership or management theory you chose in answering this question.
Are you more of a leader or a manager? (LEADER) Please explain why you feel this way. In view of your results of the personality test, how can you strengthen aspects of your personality to grow more in leadership or in management? Which competencies do you need to strengthen to become the leader or manager you want to become?
2. Change Theory
How do you deal with change at your practice setting? What personality traits would you utilize to promote change in your facility and how did you decide which traits you would use? Are there traits that you would not agree with and why do you think they appear?
3. Communication Style
What did you learn about yourself taking the personality test? Which type of communicator are you? What are areas that you can strengthen to be more effective? To be more therapeutic? What are some barriers to effective communication styles which you have observed in yourself? Note: You may need to read between the lines in the results, as your communication style is not measured directly.
4. Performance Improvement and Quality Improvement
How can you manage both performance improvement and quality improvement at the same time? Answer this using your understanding of your results of the personality test and your textbook/lectures about leadership and management.
How can you apply the principles of performance improvement and/or quality improvement into your practice? Choose one principle and explain how you can implement it at your workplace.
5. Evidence-based Practice and Improvement
Evidence-based practice (EBP) has been emphasized all throughout your BSN program. How does EBP relate to achieving desirable performance outcomes and quality improvement?
6. Supervision Style
Compare and contrast effective and ineffective supervision styles which you have observed in your workplace (NURSING FLOOR). When doing so, make sure to apply principles of delegation, authority, responsibility, and accountability.