Our Credo -- Johnson & Johnson
Johnson & Johnson has been called the model of corporate responsibility. Even upon a company crisis, the public trusted the company.
In 1982, seven people died from Extra-Strength Tylenol capsules. The company immediately withdrew 31 million Tylenol bottles (costing the company $50 million) from within stores and notified half a million doctors and hospitals about this capsule contamination crisis. Johnson & Johnson set up a toll-free hotline to assist consumers during the crisis’ first week and allowed the capsules to be swapped with Tylenol tablets. The company opened up with interviews, truthful information, and updates. The public was satisfied, and Tylenol was back within a year.
The company says that a one-page statement had been of the utmost importance during this process: the Credo ( https://www.jnj.com/about-jnj/jnj-credo ). By guiding a reader through clear company values, the Credo helped keep the company uncommonly resilient for decades.