Johnson & Johnson Essay Example | Topics and Well Written Essays - 1250 words

Johnson & Johnson - Essay Example The organization’s official website boasts of its major accomplishments, to wit: â€Å"The world’s sixth-largest consumer health company The world’s largest and most diverse medical devices and diagnostics company The world’s fifth-largest biologics company And the world’s eighth-largest pharmaceuticals company† (Johnson & Johnson, 2012). However, despite the accolades and marked successes, Johnson & Johnson’s history was likewise met with a crucial crisis that threatened their global existence through the Tylenol incident in 1982. The essay hereby aims to present how Johnson & Johnson handled business before anything was even suspected from the potential scare of deadly cyanide incorporated into Tylenol capsules. Corporate Profile The origin of Johnson & Johnson was traced from the enterprising talents of three brothers, Robert Wood Johnson, James Wood Johnson and Edward Mead Johnson, who founded the organization in the year 1886 at N ew Brunswick, New Jersey, U.S.A. (Johnson & Johnson, 2012). The organization has acknowledged operating under the governance of a value system, termed ‘Our Credo’ which was designed and developed by Robert Wood Johnson in 1943 (Johnson and Johnson, 2012). ... Since the organization indicated that they manage more than â€Å"250 operating companies in 60 countries employing approximately 118,000 people† (Johnson & Johnson, 2012), their management structure necessitates the application of a decentralized approach where business segments are classified into consumer health care, medical devices and diagnostics, as well as presciption products, parallel to the products produced and marketed. Historical Growth and Significant Developments prior to 1982 From information sourced from the Funding Universe (n.d.), the key developments for the organization prior to 1982 are as follows: â€Å"1886: Johnson brothers begin producing dressings in New Brunswick, New Jersey. 1887: Company is incorporated as Johnson & Johnson. 1893: Johnson's Baby Powder is introduced. 1921: Band-Aid brand adhesive bandages make their debut. 1924: Overseas expansion begins with the establishment of Johnson & Johnson Limited in the United Kingdom. 1932: Robert John son, known as 'the General,' takes over leadership as president. 1943: Johnson writes the company credo. 1944: Company goes public on the New York Stock Exchange. 1959: McNeil Laboratories, Inc. (McNeil Labs) is acquired. 1960: McNeil Labs introduces Tylenol as an over-the-counter (OTC) pain reliever. 1961: Janssen Pharmaceutica is acquired. 1975: Through a significant price decrease, Tylenol is transformed into a mass-marketed product† (Funding Universe, n.d., par. 5). From the information, it could be deduced that the organization operated in simpler structure with only the major products such as the baby powder, the band-aid, and Tylenol that were