About Johnson and Johnson
Johnson and Johnson which is also known by its initials (J&J), is multinational cooperation, founded in January 1886 in New Jersey, United States. Robert Wood Johnson together with his two other brothers James Wood Johnson and Edward Wood Johnson founded this company. The industry develops and deals with consumer-packaged goods, pharmaceuticals, and medical devices. The topic is ‘Johnson and Johnson Credo’.
The leading people of this company are Alex Gorsky (the CEO and chairman), Joaquin Duato (vice-chairman of the executive committee), and Paul Stoffels (vice-chairman and chief scientific officer). Currently, it is headquartered in New Brunswick, New Jersey, united states.
In 2021, by total revenue, the company has ranked 36th in the list of the largest cooperation in the United States. It is also one of the two companies based in the U.S that has a prime credit rating AAA, which is higher than the United States government. Under this company, there are approximately 250 subsidiary companies. In the pharmaceutical industry, it has been declared a premier company by its peers.
The company runs in 60 countries. Their products are sold across 175 countries worldwide, and their sales have reached $82.6 billion in 2020. Some of their well-known consumer products include Band-Aid, Johnson’s baby, Neutrogena beauty and skin products, Tylenol, Acuvue contact lenses, and clean & clear.
Credo of J&J
The Credo of Johnson and Johnson was created in 1943 by a founding family member of the J&J company, Robert Wood Johnson. It had formed just before the company started trading publicly. The company firmly believes that their first and foremost responsibility is towards their target customers who use their products and renders their services. These include doctors, nurses, patients, mothers, and fathers. It demands the well-being, needs and, wants of the people whom they prioritize at first.
To meet the needs and wants of their customers, the company makes sure that everything they produce should be of a premium and the best quality. Simultaneously, the company seeks to create values and reduce the cost of products, so they can provide their customers with reasonable prices. Their customer is their priority, and it is their responsibility to make sure their order services should be prompt and accurate. The Credo also mentions that their business partners will have fair opportunities to earn a decent profit.
They also believe that their employees are their responsibility. They must take care of the employee’s needs and wants. The company aims at providing a healthy and friendly environment at a workplace where everyone should feel extremely comfortable, and each one should be considered as an individual personality. The company must respect its employee’s dignity and diversity and acknowledge their merits.
Employees must feel a sense of security, fulfillment, and the purpose behind their job. The compensation given must be fair, appropriate, and sufficient. The working conditions of the company should be clean, safe, and well ordered. The company should assist the well-being and health of its employees. Not only them but also help and take up their families and other personal responsibilities. The employees should not have the feeling of hesitance and feel comfortable and free to offer an opinion or lodge a complaint.
The employees must be given uniform opportunities for employment and a chance for their development. The company should provide highly competent leaders whose actions must be ethical and fair towards the employees. J&J takes charge of the worldwide community in which they live and work. They believe that they must help their surroundings and people be healthier by giving them better access and provide care around the world.
Be a good citizen and stand by good works. The company believes in charity and supports better health and education. Its property which they are fortunate to utilize must be maintained well for protecting the environment and resources. Their final responsibility is towards their stakeholders. The company believes that its business should make a decent profit to be able to pay its debts.
The company must take up new ideas and experiment with them. It should involve different researchers and innovative program development and take care of the investment made for the future and the mistakes paid for it. New and innovative equipment must be purchased whenever needed and provide the employees with new facilities. New product launches should be examined carefully.
When the companies follow this principle and operate accordingly, the shareholders must feel profitable investing in the company and gain a fair return. The Credo sums up the values that the company is guided by.
Facts about Johnson and Johnson credo
- The company’s credo was initially under a different name
The credo was written in the year 1943 by Robert wood Johnson, and a year later in 1944 it was published for the first time in Johnson’s book by the title “An Industrial credo”. According to Johnson, the reason behind giving this title was, so that the American industry could adopt it easily. Later in the year 1948, the title was changed to “Our Credo”.
- The company’s credo believes that their employees, customers, and community stand equal in their eyes.
The company believes that all of these people should be given equal importance because it is their responsibility to take care of them.
- Their credo evolved with time
The reason for this evolvement is because Johnson’s believed any growth and development changes in the company should be considered in the document. At the time, the modern environmental movement had begun, the company added the responsibility of protecting the environment and natural resources which reflected larger changes in the world.
- The credo has been carved in stone
The company is now headquartered in New Brunswick, New Jersey, united states. An 8-foot tall, engraved version of the credo is standing still in their lobby area. It is made of milestones and quartz stones. It weighs about 6 tons.
- A book has been written and dedicated to the credo of the company
In the year 1997, the CEO of J&J collected 65 copies of their credo from 65 different countries, summed all, and printed them in a single book. The introduction of the books says that the company’s credo differs from country to country. Keeping aside the different languages of the credos, the values and principles of Johnson and Johnson remain the same.
- The credo has been translated into 35 different languages and dialects.
Johnson and Johnson are a company that serves globally, and so does their credo. It has been translated into various languages. Chinese version credo has 607 words, whereas the Romanian version has 415 words.
- The credo is found around the world.
Every Johnson and Johnson buildings or office has its credo displayed which sums up to approximately 800 buildings. It is mainly displayed in 2 areas; one is the reception lobby and the second is the conference room.
Revenue and Income
- revenue as per 2020 is $82.584 billion
- net income as per 2020 is $14.714 billion
- operating income as per 2020 is $19.733 billion
- total assets, as per 2020 is $170.693 billion
- total equity as per 2020 is $64.473 billion
- the total number of employees as of 2020 is 134,500.
Top 10 stockholders of Johnson and Johnson
- The Vanguard Group, Inc
The company holds about 8.38% of the stake. It owns 220,690,857 shares which comes to a total value of 38,208,208,072 USD.
- SSgA funds Management, Inc.
holds about 5.40% of the stake. it owns 142,047,884 shares which sum to a total value of 24,592,750,157 USD.
- BlackRock Fund Advisors
holds about 4.67% of the stake. it owns 122,825,056 shares which sum to a total value of 21,264,701,945 USD
- Geode Capital Management LLC
holds about 1.60% of the stake. it owns 42,214,232 shares which sum to a total value of 7,308,549,986 USD
- State Farm Investment Management
holds 1.31% of the stake. it owns 34, 574,792 shares which sum to a total value of 5,985,933,739 USD
- Wellington Management Co. LLP
holds 1.25% of the stake. it owns 32,934,778 shares which sum to a total value of 5,701,998,115 USD
- Northern Trust Investment Management
holds 1.19% of the stake. it owns 31,438,505 shares which sum up to a total value of 5,442,948,371 USD
- Norges Bank Investment Management
holds 1.06% of the stake. it owns 27,770,786 shares which sum up to a total value of 4,807,956,180 USD
- Massachusetts Financial Services
holds 1.04% of the stake. it owns 27,371,182 shares which sum up to a total value of 4,738,772,740 USD
- Blackrock Investment Management
holds 0.90% of the stake. it owns 23,661,526 shares which sum up to a total value of 4,096,519,996 USD.
Conclusion
The company believes that its credo is more than just a moral compass. It is a recipe for the success of its business. As per the credo of the company, it has shown that a business can achieve the highest success in the industry even without, cheating its suppliers, screwing its employees, not paying tax, and destroying the environment.
Frequently asked questions:
Question1: who is the author of the Johnson and Johnson credo?
Answer: Johnson and Johnson’s credo was created and written by Robert Wood Johnson in the year 1943.
Question2: What was the first title given to the J&J credo.
Answer: In the year 1944, the credo was published for the very first time and it was titled “An Industrial Credo” which later in the year 1948, changed to “our credo”.
Question3: CEO of Johnson & Johnson
Answer: The existing chairman and CEO of J&J is Alex Gorsky.
Question4: biggest shareholder of Johnson & Johnson
Answer: Alex Gorsky the CEO of the company is its biggest shareholder with approximately 2.9 million shares.
Question5: Is Johnson & Johnson a trusted company?
Answer: Yes, it is, as the companies value and their credo claim that their priority is their employees and customers, and it is their responsibility to take care of them. It aims to produce premium quality products and reduce its cost to a reasonable price. Hence serving their customers and making sure their orders are prompt and accurate is their responsibility. This way the company has gained the trust and hearts of billions of people.
