J&J Credo Starts with Price & Value

Business Insider: In 1943, “Robert Wood Johnson, son of the company’s founder … wrote the company’s ‘credo,’ a 309-word mission statement published ahead of Johnson & Johnson’s initial public offering … The credo opens with, ‘We believe our first responsibility is to the doctors, nurses and patients, 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 reduce our costs in order to maintain reasonable prices’.”

“It then lists responsibilities the company has to suppliers and distributors, for making a fair profit; to employees, for respecting their dignity and paying fairly; to communities, for supporting charities, paying taxes fairly, respecting the environment, and fostering health education; and to stockholders, for making profits and continually growing the business.”

“The credo is in front of every J&J office in the world. And each year, all 140,000 employees answer a 100-question survey that assesses the leadership team’s performance agains the credo’s values … The resulting ‘credo scores’ then influence individual promotions and the allocation of resources to different teams.” Here’s a link to the Johnson & Johnson credo.

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