Medtronic

It’s important to have a vision and mission statement to provide direction, it is the foundation of a company. Vision is a general broad statement that communicates the company’s values. Whereas a Mission statement defines how the company will deem success- what the company needs to accomplish to consider it successful and is geared to employees and shareholders. As described in the lecture “The game plan”. Below Medtronic has a mission statement broken down into 6 points and “serve as our ethical framework and inspirational goal for our employees around the world”.

Vision: (1960) To contribute to human welfare

Mission Statement: “1.To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life.
2. To direct our growth in the areas of biomedical engineering where we display maximum strength and ability; to gather people and facilities that tend to augment these areas; to continuously build on these areas through education and knowledge assimilation; to avoid participation in areas where we cannot make unique and worthy contributions.
3. To strive without reserve for the greatest possible reliability and quality in our products; to be the unsurpassed standard of comparison and to be recognized as a company of dedication, honesty, integrity, and service.
4.To make a fair profit on current operations to meet our obligations, sustain our growth, and reach our goals.
5. To recognize the personal worth of employees by providing an employment framework that allows personal satisfaction in work accomplished, security, advancement opportunity, and means to share in the company’s success.
6. To maintain good citizenship as a company.”

http://www.medtronic.com/us-en/about/mission.html

Like J&J and Stryker as noted above by @reshamn and @amandaally1029, Medtronic has a vision of improving human healthcare and to make healthcare better for overall better outcomes- longer lives etc. I think its interesting that Medtronic really emphasizes being really emphasizes making a “fair profit” and uses words such as “integrity”, “honesty”, etc. I appreciate that they are stating that a maximum profit isn’t their main goal, but rather a “fair profit”. When most people think of a for-profit they think of a company interested in their bottom line. I really appreciate the idea of a “fair-profit”. Obviously Medtronic wants to be successful and meet their sales goals, but it is comforting to see that their mission is focused on providing quality products to their customers to improve their lives. I think this speaks to their culture. For example in the “Careers” link they clearly state “Thinking of joining Medtronic? Meet people who share our mission” and provide employee over twenty examples of employees “living out our Mission”. Aiden a Senior Project Analysts describes why she loves her job at Medtronic”…Diabetes is such a prominent disease and I am honored to be a small part of the team that is continuously working to make each patient’s life a little easier.” Overall, it looks like Medtronic is sticking to their Vision and successfully implementing their Mission.
http://www.medtronic.com/us-en/about/careers/employee-stories.html