annual incentive bonus, long-term incentive awards, and severance benefits). All work is written to order. 1886 - Johnson & Johnson launches their first product, 1959 - Johnson & Johnson acquires McNeil Laboratories (Tylenol). The cost of competitive advantage and promotions are relatively high, like the advertising and discounts; additionally, J&J has over hundreds history and good image of Corporate Social Responsibility (CSR) result them remain competitive rather than leave the industry. For details, please see your browser’s Help section (by pressing F1). As the company moves forward, it continues to push the innovation envelope every day, infusing superior technology and ingenuity into every product they make and every project which the company undertakes. There are 135,601 male residents living in Johnson County and 140,866 female residents. In order to bring along the development of local economy, most of countries welcomes the international companies introduce their products to diversify the local economy. Find out all the key statistics for Johnson & Johnson (JNJ), including valuation measures, fiscal year financial statistics, trading record, share statistics and more. SWOT analysis show that Johnson & Johnson holds strong competitive advantages after comparing its pros and cons despite of a few disadvantages of global standardization strategy. J&J faces the threats of the low barriers to entry due to the low cost of set-up, and the proprietary product differences will be difficult to protect when the barriers are reduced so that the customers would switch to other brands more possibly. Consumers of J&J are exposed to gathering useful and relevant information when having purchased J&J baby products for J&J has formed a website (i.e.BabyCentre.com) and a online Baby Care Library to increase the closeness in customer interaction. Currently, J&J is expanding its operations in the BRIC countries (i.e. Reference this. As Our Credo celebrates its 75th anniversary, Gorsky sat down with author and Wharton professor Adam Grant to delve into the past, present and future of the company's guiding belief statement. This creates a managerial gap and often leads to greater costs or loss of a company. Johnson & Johnson's total sales 2005-2019, Johnson & Johnson's R&D expenditure as a percent of sales 2005-2019, Johnson & Johnson's number of employees 2004-2019, Sales of Johnson & Johnson's pharmaceutical products 2015-2019, Sales of Johnson & Johnson 2006-2019 by region, Top pharmaceutical companies located in Canada in 2017, by revenue, Sales of Johnson & Johnson worldwide 2011-2019, by segment, Sales of Johnson & Johnson's consumer healthcare segment by franchise 2014-2019, Sales of Johnson & Johnson's medical devices and diagnostics by franchise 2017-2019, Johnson & Johnson's share of the baby care market worldwide 2013-2021, Leading U.S. acne brands 2019, based on sales, Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Big Mac index - global prices for a Big Mac 2020, Top U.S. pharmaceutical company by total revenue in 2019, Johnson & Johnson's pure Rx drug revenue in 2019, Pharmaceutical market: worldwide revenue 2001-2019, Top 50 pharmaceutical companies - Rx sales and R&D spending 2019, Top 10 biotech and pharmaceutical companies based on market cap 2020, Total medtech revenue worldwide 2011-2024, Medical technology - top companies based on revenue 2019, Johnson & Johnson's expenditure on research and development 2005-2019, Top global pharmaceutical companies based on pharma revenue 2019, Total global pharmaceutical R&D spending 2012-2026, Top pharma companies worldwide 2020, by size of R&D pipeline, Top pharma companies worldwide by number of originated drugs 2020, Global top pharmaceutical companies based on R&D spending 2026. In addition to the world-wide product structure, the managers lack of flexibility to face the challenge of changes in local markets. Choice of global standardization strategy is because J&J’s focus is placed on lowering costs and that there is limited need for customization of products for it generally the same other than slight changes in the products’ packaging. They are guided in everything they do by their Credo, a management document authored more than 60 years ago by Robert Wood Johnson, former chairman from 1932 to 1963, and by four strategic principles. [13] The next level of management is the global management team which is responsible for the selection and positioning strategy of various products. Looking for a flexible role? Please do not hesitate to contact me. Lastly, the modes of entry will be affected by the several internal factors in this report. Numerator Insights are powered by the InfoScout Omnipanel. 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