Keys_to_BPS_Seminar_Meeting_2_LV - of inconclusive evidence...

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Seminar Activity Meeting 2 – Organizational Visions, Mission Statements and Objectives Video Case Analysis 2.1 – Mission, vision and values statements Consider the video case and its notes and answer the following questions: 1. How does Johnson & Johnson use its Credo as the cornerstone of ethics and social responsibility? 2. Can value statements such as J&J’s Credo be used in different countries with differing customs? 1. J&J is well known for its ethical culture. It has been judged to have the best corporate reputation for two years in a row, based on a survey of over 26,000 consumers. The company’s founder emphasized the importance of ethics and responsibility to stakeholders in 1943 when he wrote the company’s credo. This credo outlines the company’s commitments to its different stakeholder groups and continues to guide employees at J&J today. The company demonstrated its ethicality when it decided to stop marketing its baby oil as a tanning aid because
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Unformatted text preview: of inconclusive evidence suggesting that health problems might result from too much exposure to the sun. That decision cost the company $5 million in lost sales. The company’s vice president for recruiting finds that the company’s reputation helps them recruit and attract a diverse workforce. 2. Yes, of course. J&J is the best example to make good use of its value statements, “the Credo”. It has guided J&J managers in making decisions for nearly 70 years. These statements have become a major part of day-to-day business operations, from mundane decisions about maintaining facilities to a major crisis involving the safety of one of J&J drugs. Written in 1938, the Credo remains today in almost the original form, although now in 36 languages. SPD4251 Business Policy and Strategy 1...
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This note was uploaded on 02/23/2010 for the course BA SPD4251 taught by Professor Macy during the Spring '10 term at HKUST.

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