SOURCE: Johnson & Johnson
Innovation is the lifeblood to success for any company competing in the healthcare industry. When it comes to innovation, many healthcare companies have robust, longstanding processes that are highly standardized and easily repeatable over time. However, many of these innovation processes have one shortcoming – they are often front loaded — ie, the bulk of attention is given to idea generation and refinement, with little or no upfront consideration to late stage elements like regulatory strategy, commercialization and access effects. In a rush to market, this lack of foresight can lead to hasty decisions and a ‘push it through’ mentality resulting in poor launch execution and weaker than expected market performance.
At Johnson & Johnson we are focused on creating value through innovation. We believe meaningful innovation derives from the insight and spirit of our employees, and their ability to anticipate and understand the needs of patients and what they value. What’s truly unique about our innovation model is our insistence on early identification and development of downstream strategies to optimize everything from access to outcomes. Our model is ‘end-to-end,’ meaning ingenuity is applied throughout the process of bringing innovation to market. Ultimately, our goal is to bring the best products and solutions as quickly as possible to the greatest number of people who need them. For the employees of Johnson & Johnson it’s more than a business imperative, it’s a personal responsibility – embodied by the principles set forth in Our Credo. We are driven to care for others and help billions of people around the world live longer, healthier and happier lives.
Tweet me: .@JNJStories sets #innovation model for #healthcare http://3bl.me/6ahggk creating robust, longstanding processes
KEYWORDS: Johnson and Johnson, Innovation, Healthcare, IDEA Pharma Productive Innovation Index, csr, sustainability