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According to The Open University (2019, Block1, 2.1) Corporate Social Responsibility (CSR) is a business model that helps a company be socially accountable — to itself, its stakeholders, and the public.
The well-known corporate culture of J&J is concerned to its Credo, which was written in 1943 by Robert Wood Johnson former chairman and one of the company founder (The Open University, 2019, TMA01, 3.2). The Credo blueprint describe company responsibilities towards its stakeholders and it is company recipe for business success. Furthermore, according to the case study (The Open University, 2019, TMA01, 3.2) history showing that company Credo has been essential part of its business model strategy.
Thus, J&J responsibility is strongly related to its stakeholder engagement. Stakeholders, in turn, have an interest in and can influence the success of the organisation. They include customers, employees, healthcare providers, NGO’s, local communities and shareholders (The Open University, 2019, TMA01, 3.1).
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J&J continue developing its relationship with stakeholders. For example, providing health and safety at work place, arranging training opportunities for its employees, promoting a diverse work environment or supporting the health and well-being of employee and their relatives (The Open University, 2019, TMA01, 3.1). Moreover, company carries out initiatives that are aimed at additional stakeholders such as communities, shareholders. For example, by protecting natural resources and environment, supporting charity and education sectors, maximises profit for their shareholders or implementing business model that targeting low – income countries with affordable treatments (The Open University, 2019, TMA01, 3.2). It can be seen that J&J collaborate with all levels of stakeholders group from global to local levels giving special importance to the engagement of stakeholders and as a result creating shared values (CSV) for the company and society.
However, it can be argue that organisation may face several challenges according CSV. For example, difference in workers condition in developing countries, standards of customer protection, political and cultural factors or income can lead to ethical issues. Furthermore, lack of knowledge about using certain products and services may lead to health and safety issues.
According to The Open University (2019, Block 1, 4) Porter and Kramer’s argue that creating shared value (CSV) lies at the core of the firm’s operations. It is evidence that J&J company style is deeply rooted in their Credo and create values in many areas (The Open University, 2019, Block 1, 4). For example, company fully explore business opportunities that contribute the reaching the Sustainable Development Goals (SDG’s) in 5 areas.
Health Workforce – J&J believes that promoting employee health and well-being will build stronger community (The Open University, 2019, TMA01, 3.3). Thus, providing a health work environment may serve an important function in attracting and retaining skilled workers that they can improve and save lives. Furthermore, value is created by people applying their talents to deliver innovative products and services to customers, which is crucial for improving health outcomes in society. According to Health Workforce (2019) company continually innovating in way to support society. For example, researching for new cancer treatment, providing financial support to rebuild health system in Africa or by supporting students in school to enrol in higher education and purse a career in the health sector.
Global Disease Challenges – J&J create value by addressing global disease challenge company aim to eliminate HIV and tuberculosis (The Open University, 2019, TMA01, 3.3). Thus, this will required collective effort, dedication and partnership to deliver solution. According to Global Disease Challenges (2019) J&J announce a new partnership with the Institute of Microbial technology (IMTECH) to help discovery of innovative treatment for tuberculous. Furthermore, J&J lunched Global Public Health (GPH) group program, which aim to focus on developing solution to cure HIV in partnership with government and both private and non-profit organisations (Global Disease Challenges, 2019).
Environmental Health – J&J believes that all people needs healthy place to live. Thus, as a socially responsible company, J&J create value addressing the problem of climate change and air pollution by driving actions beyond company operations (The Open University, 2019, TMA01, 3.3). For example, according to Energy, C. and Waste, W. (2019) company promotes a low carbon economy and climate change issue program. Moreover, encouraging consumer to increase recycling of personal care product via ‘Care to Recycle’ program.
Essential Surgery – J&J aim to make a difference in the community especially in low-income areas by ensuring that more people have accesses to essential surgical care. Thus, making surgery available to people in need (The Open University, 2019, TMA01, 3.3). According to Essential Surgery (2019) J&J announces a strategic collaboration with ‘Touch Surgery’ in Africa in way to improve patient outcomes by providing surgical trainings. Moreover, J&J are committed to expanding access to surgical procedures around the world, especially in developing countries where access to the latest training practices is limited.
Women’s and Children’s Health – for the J&J, support of the health of women and children is a fundamental pillar of its Credo. Company commitment aims to bring the latest knowledge and technology to improve health of women and children (The Open University, 2019, TMA01, 3.3). Therefore, J&J launched several initiatives, from advancing gender equality in workplace to improving health of women and children in developing countries (Women's and Children's Health, 2019). For example, by contributing $25 million to save new born lives in India (Peter Fasolo, 2019).
As can be seen in above analysis, J&J provides an example of how an organisation values (Credo) guide its behaviour with its stakeholders. Company creating values in way to provide financial support, collaboration with governance, private sector and non-profit sector organisations at the same time aiming to improve people’s quality of live. Thus, making a world a better place to live.
Corporate Credo And Integrated Personal Beliefs. (2024, Feb 09). Retrieved from https://studymoose.com/corporate-credo-and-integrated-personal-beliefs-essay
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