I need a four page paper on strategic planning process on Jo

I need a four page paper on strategic planning process on Johnson & Johnson in APA style with references.

Solution

The strategic direction being followed by Johnson & Johnson (J&J) is to have the knowledge, information and resources that are required to bring the much needed as well as new health care solutions in the market. The company wants to make a difference in the health care industry by capturing and developing opportunities that will help people in different parts of the world. The company has the following business verticals - pharmaceutical, biologics, devices, diagnostics and consumer businesses. The company wants to optimize and leverage the strength of all its businesses to bring new solutions in the health care market, solutions that will make a difference in people\'s lives.

This strategic direction is implemented at different offices of the company across the world. Implementation becomes easy as the company operates on the foundations of decentralized management. Each operating company in J&J has their own strategic plans. However the plans of each operating company are developed while keeping in mind the strategic direction of the company as discussed above.

The strategic planning process in J&J is centered on the need to care for and protect the health and well being of people. While focusing on its credo, J&J also develops levers and drivers for future growth. Future growth is planned for by trying to create value through innovation, by trying to extend its market and reach, by trying to focus on the local needs and requirements, and by trying to execute and implement flawlessly.

Demographic trends helps drive growth in J&J. Developed countries has aging population and developing countries have a middle class that is rapidly expanding. These two trends are fueling the demand for health care products and solutions. People are increasing their investments in preventive care.

Strategic planning process is based on the following four strategic principles - (i) The company is broadly based in human health care. (ii) The company is managed and operated for the long term. (iii) The company follows a decentralized management approach. (iv) The company cares for its people and its values. As a part of their strategy, J&J successfully pursues growth opportunities in the segments of health care in which it is present. The company has a long term focus and most of its products are either ranked 1 or 2 in terms of market share. The company will achieve future growth through licensing, acquisitions and partnership. The decentralized management approach has helped the company make better decisions quickly. For instance, its R&D centers based in developing countries use local insights to innovate and develop new products.

References:

1. Retrieved from http://www.investor.jnj.com/strategic.cfm

2. Retreived from https://www.jnj.com/sites/default/files/pdf/JJStrategic_Framework_121206.pdf