Corporate Social Responsibility (CSR) is a critical self-regulating business model for modern organizations to maintain social and environmental obligations and interactions. Its successful understanding and implementation help companies achieve the required balance between economic, social, and environmental issues.
Depending on the type of organization, CSR can be interpreted in a variety of ways. For example, entrepreneurship firms address the basics of CSR soon after their foundation, and this decision is necessary to promote a strong shared value that is also favorable for society. Compared to entrepreneurship organizations, intrapreneurship firms neglect the creation of a particular social plan at the initial stage of their creation and take appropriate changes with time. There are also mainstream adopters that, compared to the two previous examples, pay much attention to CSR principles. Such leaders believe that following CSR is a good chance to gain a competitive advantage and enhance a reputation in a short period.
Addressing the business reality, it is possible to identify many examples of entrepreneurship firms that have already achieved success and proved the worth of CSR, and Johnson & Johnson is one of such organizations. It was created more than 135 years ago when the concept of CSR was not as critical as it is today. Johnson & Johnson’s leaders focused on the production of reliable medical devices and pharmaceuticals to help ordinary people improve their well-being and be healthy. With time, as it is supposed to be in entrepreneurship firms, the company needed a clear shared vision to promote sustainability and gain respect and recognition globally.
Therefore, Johnson & Johnson successfully achieved the desired goals by taking responsibility for all its decisions and making profits for itself, its clients, and its stakeholders. Quality and trust are the two principles according to which the company continues working today and proving the worth of its CSR policy.