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    Activity 3: Case Study Johnson & Johnson'S Stakeholder Approach

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    Nika Cruz
    The document discusses Johnson & Johnson's credo and stakeholder approach. [1] It identifies the four main stakeholder groups in the credo (customers, employees, community, shareholders) and notes that government is a missing stakeholder. [2] It prioritizes customers as the most important stakeholder since they are essential for the company's operations and success. [3] The credo has remained largely unchanged since 1943, which was revolutionary for stakeholder management at the time by committing to serving people and community before it was widely practiced. [4] As a senior manager, the importance of explaining the credo to new managers would be that it provides the values and recipe for the company's decisions in giving priority

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    Activity 3: Case Study Johnson & Johnson'S Stakeholder Approach

    Uploaded by

    Nika Cruz
    89 views3 pages
    The document discusses Johnson & Johnson's credo and stakeholder approach. [1] It identifies the four main stakeholder groups in the credo (customers, employees, community, shareholders) and notes that government is a missing stakeholder. [2] It prioritizes customers as the most important stakeholder since they are essential for the company's operations and success. [3] The credo has remained largely unchanged since 1943, which was revolutionary for stakeholder management at the time by committing to serving people and community before it was widely practiced. [4] As a senior manager, the importance of explaining the credo to new managers would be that it provides the values and recipe for the company's decisions in giving priority

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    ACT3_LIMPERALTA-ESOLANO

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    The document discusses Johnson & Johnson's credo and stakeholder approach. [1] It identifies the four main stakeholder groups in the credo (customers, employees, community, shareholders) and notes that government is a missing stakeholder. [2] It prioritizes customers as the most important stakeholder since they are essential for the company's operations and success. [3] The credo has remained largely unchanged since 1943, which was revolutionary for stakeholder management at the time by committing to serving people and community before it was widely practiced. [4] As a senior manager, the importance of explaining the credo to new managers would be that it provides the values and recipe for the company's decisions in giving priority

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    89 views3 pages

    Activity 3: Case Study Johnson & Johnson'S Stakeholder Approach

    Uploaded by

    Nika Cruz
    The document discusses Johnson & Johnson's credo and stakeholder approach. [1] It identifies the four main stakeholder groups in the credo (customers, employees, community, shareholders) and notes that government is a missing stakeholder. [2] It prioritizes customers as the most important stakeholder since they are essential for the company's operations and success. [3] The credo has remained largely unchanged since 1943, which was revolutionary for stakeholder management at the time by committing to serving people and community before it was widely practiced. [4] As a senior manager, the importance of explaining the credo to new managers would be that it provides the values and recipe for the company's decisions in giving priority

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    LIM, LIAN THORJIE

    PERALTA, ENRICO MIGUEL

    SOLANO, MARTIN JEGO

    4M7

    COM5026: GOOD GOVERNANCE AND SOCIAL RESPONSIBILITY

    ACTIVITY 3: CASE STUDY JOHNSON & JOHNSON’S STAKEHOLDER APPROACH

    1. Read Johnson & Johnson’s credo and identify all the company’s listed stakeholders. Which

    stakeholders are missing?

    Johnson & Johnson's states that the most unique aspect of their credo is their

    responsibility to their four main stakeholder groups namely, (1) Customers and Suppliers;

    (2) Employees; (3) Community and World Community; (4) Company Shareholders.

    Every company should consider government as part of their stakeholder because

    they are the one who creates law and regulations that can affect the business operations. It

    is one of the missing stakeholders of Johnson & Johnson's that they should consider adding.

    Aside from state rules that affect the businesses, they are the one who sets financial

    regulation to protect consumers. The government also collects income taxes where it is

    used to provide funds for the community and contribute to the country's GDP.

    2. Try to prioritize them. Whom do you think is more important and why?

    Johnson & Johnson's first responsibility which is the customers is also the most

    important stakeholder for us. Customers is the lifeblood of any companies. We all know

    that every company's goal is to create customers because without them the company will
    not continue its operations in the long run. As stated by J&J that everything they do must

    be in high quality to meet the needs of their customers. Hence, all of their strategies will

    always concern or revolve with its customers. Meaning, the customers have direct

    influence towards the company's success. Whenever they purchase a certain product or

    services it will give direction to businesses on what they should do to improve their

    company.

    3. The credo was written in 1943 and has hardly changed since. Why is this revolutionary in

    terms of stakeholder management?

    Robert Wood Johnson created credo in 1943 long before every company uses

    corporate social responsibility. Meaning they are a hundred percent committed to serve and

    care for people and community even though no one told them to do so. They remain

    revolutionary even though it has hardly changed ever since it was implemented. The still

    stay as one of the best healthcare companies. In terms of how they handle their stakeholders

    makes their credo revolutionary. Their main objective is to provide needs of the well-being

    of the people they serve. They use their credo as the recipe of their business where it gives

    importance to every groups.

    4. How would you, as a senior manager in Johnson & Johnson, explain the importance of the

    credo to a newly recruited manager in your team?

    Johnson & Johnson’s credo is more than just a moral compass. It is the recipe to

    our business and as a senior manager, I will explain our credo to the newly recruited

    manager by explaining the main importance why we do or follow this responsibility. Our

    credo has its own set of values that helps the company with its decisions. We stay true to

    ourselves whenever we say we give priorities to the entire stakeholders. We value the
    recipe of our company which we always concentrate to the betterment of the community

    along with the company's identity. We use credo as our map; the guide to success as we

    continuously create solutions to serve and build trust to our main stakeholders. Overall, I

    will highlight that we are responsible in everything we do in this company because all of

    our stakeholders are affected with one decision, and they are all essential part in generating

    profit.

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