Essay Example on Johnson and Johnson's Pharmaceuticals

Michael Phelps popularly referred to as M.P. is the most decorated star in Olympics history. Competing in Olympic Games, the American swimmer won 28 Olympic medals including 23 gold. At Sidney Olympics in 2000, Michael was the youngest American athlete in particularly seven decades. Eight short days changed Michael's life forever, making him one of the greatest athletes of all time.

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Michael had the opportunity to turn eight gold medals into the flow of cash, which was an estimated 1oo million dollars according to the wall street journal. Through several services and product endorsement. However, Michael did not rest but rather continued adding more medals to his name until 2016 when he became an Olympic superhero against long odds.

In his youth, Michael suffered attention deficit hyperactivity disorder. Physicians prescribed swimming to help him release his energy, but this to excellence and focus probably helped him.

That is simply a definition of strategic planning. Simon and Schuster, 2008. In this paper am going to discuss the business strategy and formulation used to achieve success in business. Having looked at a case study of Michael Delph on what business strategy should be, I will major my discussion on Johnson and Johnson company.

Johnson and Johnson's company is a pharmaceutical company that is based in the U.S. and has posted significant success results for more than a hundred years. The main reason for this success rate results from sound business strategy and formulation employed in the business.

To begin with, Johnson trusts that good healthiness is the basis of flourishing societies, accelerative advancement as well as vibrant lives. The struggle of the company for more than 130 years has been to maintain this dream. Michael Delph has propelled to becoming the best in the market because the perfected what they invested. The main aim of this company every day is to strive to improve access and affordability of medicine, put a healthy body, and create healthier communities within the vicinity of everyone. The main aim is to employ all means necessary to amend the course of fitness for mortality.

Johnson and Johnson's pharmaceuticals have over a long period using the strategy of creating a breakthrough medicine. These cures address the needs of society's most significant unmet medical needs. This strategy results in meaningful outcomes and benefits to the patients according to Mr. Gosky, "That progress must continue as we consider the future shape of health care. Larger clearness is by now vesting people ..."

Second, the company maximizes the experimental capability of the enterprise and production principal assortment with fresh signals patients' population and ranks of remedy. A well-established company leader in pharmacy, Johnson and Johnson company has earned regulatory approvals in for eighteen new products. Since 2011 spanning the company's diverse portfolio across six therapeutic areas. Just like the case study of Michael Delph, Johnson and Johnson company keeps on aiming higher and targets more than forty lines extension. Through 2023 to reach additional patients with unmet medical needs.

Thirdly, Johnson, and Johnson's pharmaceuticals have highly invested in innovation. This investment is a significant punchline for the success of this company. The company is committed to delivering an economical and accumulative surplus. Having paid nine point five billion dollars in excesses to bondholders in 2018 and will continue to set up funds to rate adding attainments with extra five billion bucks devoted in acquisition across the company in recent months.

Additionally, Johnson and Johnson's company is committed to returning capital to shareholders. through shares repurchases and has completed more than one-third of the five billion dollars of its authorization announced as of March 2019

Johnson and Johnson's pharmaceuticals have employed another strategy of development discovery and conveyance of firm's transformational prescription. Johnson has an evolving and differentiated approach that encircles both illness extents and biotic trails. Cavallo, K., & Brienza, D. (2002). New technology such as gene and cell therapy and broad-based application of data science. Coupled with a strong partnership, helps Johnson and Johnson's pharmaceuticals discover to develop and deliver the next wave of transformational drugs. This strategy sets the pharmaceutical company a mile away from other pharmaceutical companies.

Last but not least, I look at the company's strategy that involves supplying on the channel with discerned medicine and new medicine. With at least ten NME bits and unveilings projected towards two thousand and twenty-three. Quantifiable Transmittable Infections, 50(8), 1081-1083. Since 2019 to date; the company has expanded U.S. governing authorizations for two-first in molecular session units. BALVASAR for the cure of patients with bladder cancer that has spread SPRAVATO nasal spray for cure resilient dejection in grownups.These strategic business plans and others such s proper management has spearheaded the success of Johnson and Johnson Company to become the most reputable pharmaceutical in the world. The right business strategy with a good execution plan is the main secret to a successful business.

References

Cavallo, K., & Brienza, D. (2002). Emotional competence and leadership excellence at Johnson & Johnson: The emotional intelligence and leadership study. Consortium for Research on Emotional Intelligence in Organizations, 1-12.

Infectious Diseases Society of America. (2010). The 10'20 Initiative: pursuing a global commitment to develop ten new antibacterial drugs by 2020. Clinical Infectious Diseases, 50(8), 1081-1083.

Phelps, Michael, and Alan Abrahamson. No limits: The will to succeed. Simon and Schuster, 2008.