Johnson & Johnson: Business Model, SWOT Analysis, and Competitors 2023

In this blog article, we will delve into Johnson & Johnson's business model, conduct a SWOT analysis, and explore its competitive landscape for the year 2023. As one of the world's largest healthcare companies, Johnson & Johnson operates across three major segments: pharmaceuticals, medical devices, and consumer health. We will examine the strengths, weaknesses, opportunities, and threats that the company faces in its dynamic industry. Furthermore, we will identify and analyze its key competitors, shedding light on the challenges and opportunities that lie ahead for Johnson & Johnson in 2023.

What You Will Learn:

• Who owns Johnson & Johnson and the importance of understanding the ownership structure of a company.
• The mission statement of Johnson & Johnson and how it guides the company's overall goals and objectives.
• How Johnson & Johnson generates revenue and the key sources of income that contribute to its financial success.
• An in-depth analysis of Johnson & Johnson's business model canvas and how it outlines the company's key activities, resources, and partnerships.
• The major competitors of Johnson & Johnson and the challenges they pose to its market dominance.
• A comprehensive SWOT analysis of Johnson & Johnson, highlighting its strengths, weaknesses, opportunities, and threats in the industry.

Who owns Johnson & Johnson?

Major Shareholders

As a multinational corporation with a long and successful history, Johnson & Johnson (J&J) has a diverse ownership structure. The company's ownership is spread across a broad spectrum of shareholders, including institutional investors, mutual funds, individual investors, and company insiders. Let's take a closer look at some of the major shareholders of Johnson & Johnson.

Institutional Investors

Institutional investors play a significant role in the ownership of Johnson & Johnson. These investors include pension funds, insurance companies, and asset management firms. Some of the notable institutional shareholders of J&J include The Vanguard Group, BlackRock, and State Street Corporation. These institutions often hold large stakes in the company due to their investment strategies and the size of their portfolios.

Mutual Funds

Mutual funds are another important group of shareholders who own a significant portion of Johnson & Johnson. These funds pool money from multiple investors and invest it in a diversified portfolio of securities, which often includes shares of J&J. Some of the well-known mutual funds holding J&J shares include Fidelity Contrafund, T. Rowe Price Equity Income Fund, and Vanguard Total Stock Market Index Fund.

Individual Investors

Individual investors also own a substantial portion of Johnson & Johnson. These investors range from small retail investors who purchase a few shares to high-net-worth individuals who hold significant stakes in the company. Owning J&J shares provides individuals with an opportunity to participate in the company's success and benefit from dividends and potential capital appreciation.

Company Insiders

Company insiders, including executives, directors, and employees, also hold a considerable ownership stake in Johnson & Johnson. These insiders often acquire shares through various compensation programs, including stock options and restricted stock units. Insiders' ownership aligns their interests with those of other shareholders, as they have a vested interest in the company's performance and long-term success.

Conclusion

Johnson & Johnson's ownership is widely distributed among institutional investors, mutual funds, individual investors, and company insiders. This diverse ownership structure reflects the company's strong appeal to a broad range of investors. Whether it's large institutional funds, individual shareholders, or company insiders, all have a stake in Johnson & Johnson's continued growth and success.

What is the mission statement of Johnson & Johnson?

The Mission Statement of Johnson & Johnson

Johnson & Johnson is a multinational corporation that operates in the healthcare industry. Established in 1886, the company has grown to become one of the largest and most trusted names in the healthcare sector. At the core of Johnson & Johnson's success lies its strong mission statement that guides its operations and strategic decisions.

The mission statement of Johnson & Johnson is as follows:

"To profoundly improve the health and well-being of people around the world."

This mission statement reflects the company's commitment to making a positive impact on global health. Johnson & Johnson aims to go beyond simply providing healthcare products and services; it strives to make a meaningful difference in people's lives by addressing their health needs and promoting overall well-being.

The mission statement emphasizes the company's dedication to improving health on a global scale. Johnson & Johnson recognizes the importance of access to quality healthcare for all individuals, regardless of their geographical location or socioeconomic status. By focusing on the well-being of people worldwide, the company aims to contribute to the betterment of society as a whole.

Furthermore, Johnson & Johnson's mission statement highlights the company's emphasis on innovation and excellence. The word "profoundly" signifies the company's commitment to making a significant and lasting impact. Johnson & Johnson constantly seeks to develop innovative healthcare solutions that address the evolving needs of patients and healthcare professionals.

In alignment with its mission, Johnson & Johnson has implemented various initiatives and programs to fulfill its commitment to improving global health. The company actively engages in research and development, investing in cutting-edge technologies and scientific advancements. Additionally, Johnson & Johnson collaborates with healthcare professionals, organizations, and governments worldwide to create sustainable solutions that tackle health challenges effectively.

Overall, Johnson & Johnson's mission statement serves as a guiding principle for the company's operations, driving its efforts to improve the health and well-being of people worldwide. By staying true to its mission, Johnson & Johnson continues to make a significant impact on global health, ensuring a healthier future for generations to come.

How does Johnson & Johnson make money?

Pharmaceutical Products

One of the primary sources of revenue for Johnson & Johnson is its pharmaceutical segment. The company develops and sells a wide range of prescription drugs, over-the-counter medications, and medical devices. With an extensive portfolio of pharmaceutical products, Johnson & Johnson caters to various therapeutic areas such as oncology, immunology, neuroscience, infectious diseases, and cardiovascular diseases.

The company invests heavily in research and development to create innovative medications that address critical health needs. Johnson & Johnson then collaborates with healthcare professionals, hospitals, and pharmacies to distribute and market these pharmaceutical products worldwide. By leveraging its strong brand reputation and global presence, the company generates substantial revenue from the sale of its pharmaceutical offerings.

Consumer Health Products

In addition to pharmaceuticals, Johnson & Johnson also earns a significant portion of its revenue from consumer health products. This segment comprises well-known brands such as Band-Aid, Listerine, Neutrogena, and Johnson's Baby products. These consumer healthcare products are designed to meet the everyday needs of consumers, ranging from personal care and hygiene to skincare and baby care.

Johnson & Johnson's consumer health products are available in various retail channels, including pharmacies, supermarkets, and online platforms. The company's robust distribution network ensures that these products reach consumers across the globe. By continuously innovating and expanding its consumer health portfolio, Johnson & Johnson has established itself as a trusted provider of essential healthcare products, contributing substantially to its overall revenue.

Medical Devices

Johnson & Johnson is a major player in the medical devices industry, contributing significantly to its revenue stream. The company manufactures and markets a broad range of medical devices, including surgical equipment, orthopedic implants, cardiovascular devices, and diagnostic tools. These devices are used by healthcare professionals in hospitals, clinics, and other healthcare settings to diagnose, monitor, and treat various medical conditions.

With a focus on technological advancements and clinical research, Johnson & Johnson's medical devices are at the forefront of innovation. The company invests in developing cutting-edge devices that improve patient outcomes, enhance efficiency, and reduce healthcare costs. By catering to the evolving needs of healthcare providers and patients, Johnson & Johnson generates substantial revenue from the sale of its medical devices globally.

Other Revenue Streams

Apart from the core segments mentioned above, Johnson & Johnson also generates revenue through other avenues. This includes licensing agreements with other pharmaceutical and biotech companies, whereby Johnson & Johnson grants them the rights to develop and market certain medications or technologies. Through collaborations and partnerships, the company further expands its reach and revenue potential.

Additionally, Johnson & Johnson has a presence in the healthcare services sector, offering consulting and professional services to healthcare organizations. This diversified revenue stream adds to the company's overall financial stability and growth.

In conclusion, Johnson & Johnson's revenue primarily comes from its pharmaceutical products, consumer health products, and medical devices. By consistently investing in research and development, expanding its product portfolio, and leveraging its global reach, the company continues to thrive in the healthcare industry while improving the well-being of millions of people worldwide.

Johnson & Johnson Business Model Canvas Explained

Introduction to the Business Model Canvas

The Business Model Canvas is a strategic management tool that provides a comprehensive framework for analyzing and understanding a company's business model. It consists of nine key building blocks that capture the fundamental aspects of a business and how they interact with each other. In this section, we will delve into Johnson & Johnson's business model using the Business Model Canvas framework.

Key Partnerships

Johnson & Johnson has a strong focus on building strategic partnerships to drive innovation and enhance its product portfolio. The company collaborates with various stakeholders, including healthcare professionals, research institutions, and other industry leaders. These partnerships enable Johnson & Johnson to tap into external expertise, access new markets, and develop innovative solutions to address complex healthcare challenges.

For instance, Johnson & Johnson collaborates with academic institutions and research organizations to drive advancements in medical research and technology. This collaborative approach helps the company stay at the forefront of medical innovation and develop cutting-edge products that improve patient outcomes.

Key Activities

As a diversified healthcare company, Johnson & Johnson engages in a range of key activities to deliver value to its customers and stakeholders. These activities include research and development, manufacturing, marketing and sales, and distribution. By leveraging its extensive global network and expertise, Johnson & Johnson is able to develop, produce, and market a wide range of healthcare products across multiple therapeutic areas.

The company invests heavily in research and development to drive innovation and bring new products to market. This includes investing in clinical trials, conducting studies, and seeking regulatory approvals to ensure the safety and efficacy of its products. Johnson & Johnson's manufacturing capabilities ensure the efficient production of high-quality healthcare products, while its robust marketing and sales strategies help reach customers and healthcare professionals worldwide.

Key Resources

Johnson & Johnson's success is built upon a wide range of key resources that support its business operations and drive its competitive advantage. These resources include its strong brand reputation, extensive product portfolio, research and development capabilities, manufacturing facilities, and global distribution network.

The company's brand reputation, built over many decades, instills trust among customers, healthcare professionals, and other stakeholders. Its extensive product portfolio spans multiple therapeutic areas, catering to diverse healthcare needs. Johnson & Johnson's research and development capabilities enable it to innovate and develop new solutions that address unmet medical needs.

Furthermore, the company's manufacturing facilities ensure the efficient production of its products, maintaining high quality standards. Johnson & Johnson's global distribution network allows it to reach customers in various markets, ensuring widespread availability of its healthcare offerings.

Value Proposition

Johnson & Johnson's value proposition lies in its commitment to improving the health and well-being of people worldwide. The company aims to deliver innovative, high-quality healthcare products that meet the evolving needs of patients and healthcare professionals. By focusing on patient-centric solutions, Johnson & Johnson strives to enhance patient outcomes and improve the overall healthcare experience.

The company's extensive product portfolio, encompassing pharmaceuticals, medical devices, and consumer health products, allows it to address a broad spectrum of healthcare needs. Johnson & Johnson's commitment to safety, efficacy, and quality ensures that its products are trusted by healthcare professionals and patients alike.

Conclusion

By examining Johnson & Johnson's business model through the lens of the Business Model Canvas, we gain a deeper understanding of the company's strategic approach and how it creates and delivers value to its stakeholders. Through key partnerships, activities, resources, and a strong value proposition, Johnson & Johnson continues to be a global leader in the healthcare industry, driving innovation and improving healthcare outcomes worldwide.

Which companies are the competitors of Johnson & Johnson?

Competitors of Johnson & Johnson in the Pharmaceutical Industry

Johnson & Johnson, being one of the largest and most diversified healthcare companies in the world, faces tough competition from several renowned companies in the pharmaceutical industry. These competitors strive to capture market share and deliver innovative healthcare solutions. Some of the notable competitors of Johnson & Johnson include:

1. Pfizer Inc.: Pfizer is a leading global pharmaceutical company engaged in discovering, developing, and manufacturing a diversified range of healthcare products. With a strong presence in both prescription and over-the-counter medications, Pfizer competes fiercely with Johnson & Johnson in various therapeutic areas.

2. Novartis AG: Novartis is a Swiss multinational pharmaceutical company with a broad portfolio of products, including prescription drugs, generics, and over-the-counter remedies. Novartis operates in multiple therapeutic areas, such as oncology, cardiovascular, and immunology, putting it in direct competition with Johnson & Johnson.

3. Roche Holding AG: Roche, based in Switzerland, is a pharmaceutical and diagnostics company that focuses on developing innovative medicines and diagnostics to address unmet medical needs. With a strong presence in oncology and other disease areas, Roche competes intensely with Johnson & Johnson's pharmaceutical division.

4. Merck & Co., Inc.: Merck, often referred to as MSD outside the United States and Canada, is a leading global healthcare company engaged in the discovery, development, and manufacturing of prescription medicines, vaccines, and animal health products. Merck competes head-to-head with Johnson & Johnson in various therapeutic fields, including immunology and infectious diseases.

5. GlaxoSmithKline plc: GlaxoSmithKline (GSK) is a British multinational pharmaceutical company that focuses on research, development, and manufacturing of a wide range of prescription medicines, vaccines, and consumer healthcare products. GSK competes with Johnson & Johnson in various therapeutic areas, including respiratory, immunology, and infectious diseases.

These are just a few of the prominent competitors in the pharmaceutical industry that challenge Johnson & Johnson's market position and strive to deliver innovative healthcare solutions to patients worldwide. The competition among these companies fosters an environment of continuous improvement and innovation, ultimately benefiting consumers by providing them with a diverse range of treatment options.

Johnson & Johnson SWOT Analysis

Strengths

One of the key strengths of Johnson & Johnson is its diversified portfolio of products and services. The company operates in three main segments: pharmaceuticals, medical devices, and consumer health. This diversification not only helps Johnson & Johnson to mitigate risks associated with any one segment but also allows it to capture opportunities across multiple markets.

Another strength of the company is its strong brand reputation. Johnson & Johnson has been in existence for over 130 years and has built a reputation for providing high-quality products that are trusted by consumers worldwide. This strong brand reputation gives the company a competitive advantage and helps to drive customer loyalty.

Furthermore, Johnson & Johnson has a robust research and development (R&D) capability. The company invests heavily in R&D to develop innovative products and solutions that meet the evolving needs of its customers. This focus on innovation enables Johnson & Johnson to stay ahead of its competitors and maintain its market leadership position.

Weaknesses

One weakness of Johnson & Johnson is its dependence on a few key products for a significant portion of its revenue. For example, some of its pharmaceutical products generate a substantial portion of the company's overall sales. This dependence exposes Johnson & Johnson to the risk of revenue decline if any of these key products face patent expirations or intense competition from generic alternatives.

Another weakness is the company's exposure to legal and regulatory risks. Johnson & Johnson has faced numerous lawsuits and investigations related to its products, including allegations of safety issues and misleading marketing practices. These legal and regulatory challenges not only result in financial penalties but also damage the company's reputation and erode customer trust.

Opportunities

One significant opportunity for Johnson & Johnson is the growing global healthcare market. With an aging population, increasing healthcare spending, and demand for advanced medical technologies, the company is well-positioned to capitalize on these trends. By leveraging its expertise in pharmaceuticals, medical devices, and consumer health, Johnson & Johnson can expand its presence in emerging markets and develop innovative products to address unmet medical needs.

Another opportunity lies in the rising trend of personalized medicine. With advancements in genetic testing and personalized healthcare solutions, there is a growing demand for targeted therapies and customized treatment options. Johnson & Johnson can leverage its R&D capabilities and partnerships to develop personalized medicine solutions, creating a competitive advantage in this rapidly evolving market.

Threats

One of the significant threats facing Johnson & Johnson is intense competition in the healthcare industry. The company operates in highly competitive markets, with numerous local and global competitors. This competition puts pressure on pricing, innovation, and market share. To maintain its competitive position, Johnson & Johnson needs to continually invest in R&D, marketing, and strategic partnerships.

Another threat is the increasing scrutiny and regulation of the pharmaceutical industry. Governments and regulatory bodies worldwide are imposing stricter regulations and pricing controls, which can impact Johnson & Johnson's profitability and market access. Adhering to complex regulatory requirements and managing pricing pressures pose significant challenges for the company.

In conclusion, while Johnson & Johnson has various strengths, such as a diversified portfolio, strong brand reputation, and robust R&D capability, it also faces weaknesses like dependence on key products and legal risks. However, the company has opportunities to tap into the growing healthcare market and personalized medicine trend. Nevertheless, it must navigate threats such as intense competition and regulatory challenges to sustain its success in the long run.

Key Takeaways

• Johnson & Johnson is a publicly traded company, meaning it is owned by thousands of individual and institutional shareholders who hold its stock.
• The mission statement of Johnson & Johnson is to improve the health and well-being of people around the world. They aim to achieve this by providing innovative healthcare products and solutions.
• Johnson & Johnson generates revenue through its diverse portfolio of consumer health, pharmaceutical, and medical devices products. These include popular brands like Band-Aid, Tylenol, Neutrogena, and prescription drugs.
• The Business Model Canvas of Johnson & Johnson encompasses key elements such as customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, key partnerships, and cost structure.
• Some of the competitors of Johnson & Johnson include Pfizer, Merck & Co., Novartis, and Gilead Sciences. These companies operate in similar sectors and compete in areas such as pharmaceuticals and healthcare products.
• A SWOT analysis of Johnson & Johnson reveals its strengths, weaknesses, opportunities, and threats. Strengths include a strong brand reputation and a wide product portfolio, while weaknesses may include product recalls and legal issues. Opportunities lie in expanding markets and product innovation, while threats include intense competition and regulatory challenges.

Conclusion

In conclusion, Johnson & Johnson is a globally recognized company with a rich history and a diverse portfolio of products. As a publicly traded company, it is owned by a wide range of individual and institutional shareholders.

The mission statement of Johnson & Johnson is to improve the health and well-being of people around the world. This mission drives their commitment to developing innovative healthcare solutions and delivering them to those who need them most.

Johnson & Johnson makes money through various revenue streams, including the sales of pharmaceuticals, medical devices, and consumer healthcare products. They also generate income from licensing agreements and collaborations with other companies in the healthcare industry.

The Johnson & Johnson Business Model Canvas provides a comprehensive overview of the company's key activities, resources, and value propositions. It outlines how they create, deliver, and capture value in the market, highlighting their strong focus on research and development, customer relationships, and brand reputation.

In terms of competition, Johnson & Johnson faces rivalry from other major healthcare companies such as Pfizer, Merck, and Novartis. These companies operate in similar markets and compete for market share and customer loyalty.

A SWOT analysis of Johnson & Johnson reveals its strengths, weaknesses, opportunities, and threats in the industry. The company's strong brand recognition, extensive product portfolio, and global presence are among its key strengths. However, challenges such as regulatory scrutiny, patent expirations, and intense competition pose potential threats to its growth and profitability.

Overall, Johnson & Johnson's success is driven by its commitment to its mission, its diverse revenue streams, and its ability to navigate the competitive landscape. As the healthcare industry continues to evolve, Johnson & Johnson will need to adapt and innovate to maintain its position as a leader in the market.

FAQs

What are Johnson and Johnson's weaknesses?

Some possible weaknesses of Johnson & Johnson include:

1. Product recalls: The company has faced numerous product recalls in the past, which have damaged its reputation and resulted in financial losses. For example, the recall of over-the-counter drugs like Tylenol due to quality control issues in 2010 had a significant impact on the company's sales.

2. Legal and regulatory challenges: Johnson & Johnson has faced various legal and regulatory challenges related to product safety and marketing practices. Lawsuits and fines related to issues such as asbestos contamination in talc-based products and deceptive marketing of opioids have affected the company's image and financial performance.

3. Dependence on consumer products: While Johnson & Johnson has a diversified portfolio, its consumer products division, which includes well-known brands like Band-Aid and Listerine, contributes a significant portion of its revenue. This dependence on consumer products makes the company vulnerable to changes in consumer preferences and competition.

4. Global operations: Johnson & Johnson operates in more than 60 countries, which exposes it to geopolitical risks, currency fluctuations, and varying regulatory environments. Political instability, trade disputes, or economic downturns in key markets can impact the company's operations and profitability.

5. Reputation and trust issues: Despite being a renowned brand, Johnson & Johnson has faced criticism and controversy related to issues such as product safety, ethical concerns, and transparency. These incidents have eroded consumer trust and posed challenges to the company's reputation.

6. Intense competition: Johnson & Johnson operates in highly competitive industries such as pharmaceuticals, medical devices, and consumer healthcare. Competing against other multinational corporations and generic drug manufacturers exposes the company to pricing pressures, market share erosion, and the need for continuous innovation.

It's important to note that weaknesses can vary over time, and companies like Johnson & Johnson continuously work to address and overcome them.

What are the key success factors of Johnson and Johnson?

There are several key success factors that contribute to the success of Johnson & Johnson:

1. Strong brand reputation: Johnson & Johnson has built a strong brand reputation over the years, known for its high-quality products and commitment to customer satisfaction. This trust helps retain existing customers and attract new ones.

2. Diverse product portfolio: The company operates in multiple sectors, including pharmaceuticals, medical devices, and consumer healthcare. This diversification helps Johnson & Johnson to mitigate risks and capture opportunities in different markets.

3. Research and development: Johnson & Johnson invests heavily in research and development, continuously innovating and introducing new products. This focus on R&D helps the company stay ahead of the competition and meet evolving customer needs.

4. Global presence: Johnson & Johnson has a strong global presence, with operations in more than 60 countries. This enables the company to tap into various markets and benefit from geographic diversity.

5. Strong distribution network: The company has established an extensive distribution network, ensuring its products are widely available to consumers. This network helps Johnson & Johnson to reach customers efficiently and effectively.

6. Commitment to sustainability: Johnson & Johnson is committed to sustainability and corporate social responsibility. This includes initiatives for environmental conservation, ethical business practices, and social impact programs. Such commitments help build trust among customers and stakeholders.

7. Strong research partnerships: Johnson & Johnson collaborates with academic institutions, research organizations, and other companies to drive innovation and develop new technologies. These partnerships enhance the company's research capabilities and expand its knowledge base.

8. Strong financial performance: Johnson & Johnson has consistently delivered strong financial results, including solid revenue growth and profitability. This financial stability allows the company to invest in research, development, and expansion initiatives.

Overall, Johnson & Johnson's key success factors revolve around its strong brand reputation, diverse product portfolio, focus on research and development, global presence, distribution network, commitment to sustainability, research partnerships, and strong financial performance.

What is Johnson and Johnson competitive advantage?

Johnson & Johnson has several competitive advantages that have contributed to its success in the healthcare industry:

1. Diversified product portfolio: Johnson & Johnson operates in various segments of the healthcare industry, including pharmaceuticals, medical devices, and consumer healthcare products. This diversification allows the company to mitigate risks and navigate through economic downturns. It also enables the company to leverage its resources and expertise across different business units.

2. Strong brand reputation: Johnson & Johnson has established a strong brand reputation over the years, known for its commitment to quality, safety, and innovation. The company's brands, such as Band-Aid, Tylenol, Neutrogena, and Johnson's Baby, enjoy high levels of customer trust and loyalty.

3. Research and development capabilities: Johnson & Johnson invests heavily in research and development (R&D) to drive innovation. The company's focus on R&D has enabled it to develop groundbreaking products and technologies, such as pharmaceutical drugs, medical devices, and healthcare solutions, giving it a competitive edge in the market.

4. Global presence: Johnson & Johnson operates in over 60 countries worldwide, allowing it to reach a wide range of markets and customers. Its global footprint gives the company access to diverse customer needs, market trends, and talent pools.

5. Strong distribution network: The company has a robust distribution network that ensures its products reach customers effectively and efficiently. This allows Johnson & Johnson to penetrate various markets and maintain a competitive position.

6. Strong relationships with healthcare professionals: Johnson & Johnson has established strong relationships with healthcare professionals, including doctors, nurses, and pharmacists. This enables the company to gain insights into customer needs, provide professional education, and promote its products effectively.

7. Commitment to sustainability and corporate social responsibility: Johnson & Johnson is committed to sustainability and corporate social responsibility. Its initiatives include reducing its environmental footprint, promoting diversity and inclusion, and providing access to healthcare in underserved communities. This commitment enhances its reputation, attracts socially conscious customers, and differentiates it from competitors.

What is the business strategy of Johnson and Johnson?

Johnson & Johnson's business strategy revolves around their commitment to advancing the health and well-being of people globally. They focus on three strategic priorities:

1. Innovation: Johnson & Johnson emphasizes continuous innovation to develop and introduce new products and solutions that address unmet medical needs. They invest significantly in research and development (R&D) to bring forth transformative healthcare solutions.

2. Diversification: The company operates in three broad segments: Consumer Health, Pharmaceuticals, and Medical Devices. This diversification allows them to cater to a wide range of healthcare needs and leverage synergies across their businesses.

3. Global Expansion: Johnson & Johnson is a multinational organization with a strong global presence. They aim to expand into emerging markets, tapping into the growing demand for healthcare products and services in these regions. They focus on adapting their products and pricing strategies to meet the specific needs of different markets.

Additionally, Johnson & Johnson places a strong emphasis on corporate social responsibility (CSR) and sustainability. They integrate sustainability into their business strategy by aiming to reduce their environmental impact, promoting diversity and inclusion, and ensuring ethical business practices.

Overall, Johnson & Johnson's business strategy centers around innovation, diversification, global expansion, and a commitment to improving global health outcomes.