Introduction
The selected article titled “How did Johnson and Johnson’s corporate responsibility policy pay off in 1982?” was written by the Investopedia team. This article discusses corporate social responsibility using the example of the Johnson & Johnson 1982 Act (Investopedia Team, 2022). The company’s decision to withdraw Tylenol due to adverse events among patients was an ethical and socially responsible act that cost the corporation millions of dollars but allowed it to maintain public trust.
Discussion
Johnson & Johnson is a renowned and successful pharmaceutical company with hundreds of invented medications and constantly increasing revenue. This article’s main story was about seven Chicago deaths that occurred in 1982 because of the ingestion of usual doses of Extra-Strength Tylenol, which was accidentally contaminated with cyanide during packaging (Investopedia Team, 2022). Recalling 30 million items cost the firm $100 million; still, it showed that Johnson & Johnson was committed to corporate social responsibility (Investopedia Team, 2022, para. 1). The latter can be defined as the ability of businesses to take ownership of their decisions and actions, making sure the organizations are socially accountable (Investopedia Team, 2022). It is beneficial not only for ensuring that public interests are addressed but helpful for building a positive image of the brand (Investopedia Team, 2022). In that situation, Johnson & Johnson’s decision was an exemplary act that represented corporate social responsibility because the company was more concerned about people’s health than its profit. Although this case could ruin the firm’s reputation, its honest acceptance of the problem and quick preemptive measures allowed it to maintain customers’ trust.
Conclusion
In summary, the article about Johnson & Johnson’s act of corporate social responsibility in business is discussed in this essay, and I learned two crucial points from this publication. Firstly, corporate social responsibility is essential for maintaining public trust. Secondly, Johnson & Johnson was one of the first corporations that set an example of how putting customers’ safety first raised the brand’s image, even if initially it might cost the company millions of dollars. Overall, ethical and socially responsible behavior is crucial for businesses, especially for those that impact people’s health.
Reference
Investopedia Team. (2022). How did Johnson and Johnson’s corporate responsibility policy pay off in 1982? Web.