Fresenius Medical Care

Vision Statement: "Creating a future worth living. For patients. Worldwide. Every Day."
"About four decades of experience in dialysis, innovative research, the global leader in dialysis services and products – that is Fresenius Medical Care.

Patients with kidney disease can now look ahead with much more confidence thanks to our innovative technologies and treatment concepts. We give them a future, one that offers them the best-possible quality of life. We use the increasing demand for modern dialysis methods to our advantage and work consistently to enhance the company’s growth. Together with our employees, we focus on pursuing strategies that will enable us to uphold our technological leadership. As a vertically integrated company, we offer products and services for the entire dialysis value chain.

The highest medical standards are our benchmark. This is our commitment to our patients, our partners in the healthcare system and our investors, who trust in the reliable performance and the future of Fresenius Medical Care."

Mission statement: "Fresenius Medical Care achieves optimal sustainable clinical, quality and technological standards in patient care through our commitment to developing innovative products and therapies. The unique position of Fresenius Medical Care builds on many years of professional experience and continual innovation. Accordingly, the focus of our research and development effort is to maintain the technological and clinical edge needed to create innovative products and enhanced therapies. Our employees are united in our commitment to providing high quality products and services and bringing the optimal sustainable medical and professional practices to patient care. We are committed to honesty, integrity, respect and dignity in our working and business relations with our employees and business partners."

Core values:
"Quality, honesty and integrity
Innovation and improvement
Respect and dignity"

https://www.freseniusmedicalcare.com/en/about-us/strategy-values/

I noticed that while some companies like fresenius have a "Strategy & values" page dedicated to their mission, vision, and strategy. while, other companies like Cardinal Health, Baxter International, and Stryker, don't bother to post a vision statement. The presence of a PR page on some of their websites and as srg36 statement about how stryker's culture is largely based on its mission statement makes me wonder if they decided a vision statement wasn't necessary, combined it with their mission, or if their vision is more used internally for culture building. However, considering that these are all fortune 500 companies, I am not sure how much it matters. I am curious about what the effects would of an omitted vision statement would be on a small startup company's PR as it attempts to acquire a share of the market.

Currently I work as a clinical research intern at Colgate-Palmolive Co. Their mission statement is as follows:

"As a Company that strives to be the best truly global consumer products company, we are committed to doing business with integrity and respect for all people and for the world around us. and Continuous Improvement will continue to drive our future initiatives."

Having worked there just under 4 months so far, I can say that this mission statement lives up to the work ethic of the management and the employees. "Continuous improvement" is without a doubt present through the various upgrades in medical devices and consumer products researched and produced by the company every year.
A mission statement is a formal summary of the goals and values of the company. In the case of Colgate-Palmolive they are outlined with satisfaction. Colgate products are mainly known for their personal care and oral care divisions. These products are, indeed, used by most people around the world. Whether it be toothpaste, mouthwash, deodorant etc. Colgate has strived to make improvements on all of its products. New formulas are always being developed to make their current products more effective and last longer. Compared to that of other medical product companies, Colgates mission statement is more precise and goal oriented, stating exactly what they strive to achieve.

It's actually simple. Vision is what do you dream your company to be in the future, while mission things that applies to their customers and works. Ex: johnson and johnson their vision to make helthcare system better, while their mission is Caring for the world, one person at a time.

According to the business dictionary, a mission statement is “ a written declaration of an organization’s core purpose and focus that normally remains unchanged over time.” While a vision statement is, “ an aspirational description of what an organization would like to achieve in the mid or long term future.”
Getinge (Maquet):
Getinge’s mission statement is :
“Getinge is an authority in the specialist field of medical devices and is committed to helping its customers save lives and guarantee excellent care.”
Getinge’s Vision:
“We focus on living five cultural core values in everything we do-these are passion, collaboration, openness, excellence and ownership.”
AS a current Getinge employee I can see how Getinge’s vision has been implemented into everyday work ethic of Getinge employees. We stand true to the five core values listed above and that is the reason for being able to save lives with a guarantee of care. Getinge is making strides to improve their cultural environment which are based on both their mission and vision statements.
References:
http://www.businessdictionary.com/definition/vision-statement.html
http://www.businessdictionary.com/definition/mission-statement.html
https://www.maquet.com/int/company/core-values/

A vision statement, as discussed in the lecture, states the goal of the company, along with what they value and why they do what they do. A mission statement states how the company carries out these goals and what the company considers to be success. These are both essential in defining a company and setting it apart from competitors or to consumers or investors. The company will act based on these two items, and everything the company does must support and be supported by the vision and mission statement.

Edwards Lifesciences has a vision statement that states: “At Edwards Lifesciences, we are dedicated to providing innovative solutions for people fighting cardiovascular disease.
Through our actions, we will become trusted partners with customers, colleagues, and patients — creating a community unified in its mission to improve the quality of life around the world. Our results will benefit customers, patients, employees, and shareholders.” They are stating their goal and their values in this. Their mission statement includes how they will carry out the vision and how they count successes: “We will celebrate our successes, thrive on discovery, and continually expand our boundaries. We will act boldly, decisively, and with determination on behalf of people fighting cardiovascular disease.” From the output of their work, it is evident that Edwards Lifesciences uses these statements to lead and drive their company.
http://www.edwards.com/aboutus/credo

A mission statement communicates the organization’s reason for being, and how it aims to serve its key stakeholders. Customers, employees, and investors are the stakeholders most often emphasized, but other stakeholders like government or communities can also be discussed.

A vision statement, in contrast, is a future-oriented declaration of the organization’s purpose and aspirations. In many ways, you can say that the mission statement lays out the organization’s “purpose for being,” and the vision statement then says, “based on that purpose, this is what we want to become.”

Mission and vision statements play three critical roles: (1) communicate the purpose of the organization to stakeholders, (2) inform strategy development, and (3) develop the measurable goals and objectives by which to gauge the success of the organization’s strategy. These interdependent, cascading roles, and the relationships among them, are summarized in the figure.

From the lecture, we learned that a vision and mission statement is different in a company. A vision statement is the goal of the company. Basically what the company was made to do, what values they hold themselves to, and why they do what they do. A mission statement states how the company carries out these goals and the companies standards of success.

One company that really stands out to me when talking about mission and vision statements is J&J. J&J has a credo. This is something they are extremely passionate about and values highly. It basically breaks down every value and mission the company has part by part. It discusses it's goals for the customer, the community, their employees, and even their profit as a business. At every interview I've ever had with J&J questions they always ask is "What is your favorite line of our credo and why?" They want people to know about the values they have because it is extremely important to them and is basically the framework for everything they do as a company.

J&J credo: https://www.jnj.com/about-jnj/jnj-credo (The credo is way too long so I will not post it here but this is the link if anyone would like to review it.)

J&J Vision Statment is: “Caring for the world, one person at a time”

The vision statement is, in my eyes, the simple reason why J&J exits. It is the common goal that every employee in the company has and is the reason that they get up every day at work. The vision statement, in my opinion, is the main driving force of the J&J mission statement or credo.

A mission statement is a statement where a business summarizes their goals and purpose. The importance of a mission statement is that it speaks to what the company does for its customers and the community by communicating the companies ethics, principles, and culture.
A vision statement summarizes the company's roadmap for growth and the desired future direction of the company. Describing what your company hopes to accomplish and their future aspirations can be a powerful way to get the attention of your customers. I found the mission and vision statement for Pfizer from their website.
Vision -
"At Pfizer, we innovate every day to make the world a healthier place. It was the vision of Charles Pfizer at the very beginning and it holds true today in everything we do. From scientific discovery to breakthrough products to our essential partnerships around the world, we’re committed to quality healthcare for everyone. Because every individual matters."
Mission -
"Our purpose is grounded in our belief that all people deserve to live healthy lives. This drives our desire to provide access to medicines that are safe, effective, and affordable."
I think that this statement clearly describes the goals of Pfizer and presents them to the customer in a positive light.

Vision Statement: Describe the company values and purpose. Also emphasize on desire future of the company
Mission Statement: Defines clearly how the company does business, Its goals and its approach to reach those objectives.
Both Vision and Mission statement are important because they determine the company's direction. Also serve as a marketing tool to woo customers and its key stakeholder.

STERIS

Mission:
At STERIS, WE HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life science product and service solutions around the globe.

Vision:
Inspired by our Customers’ efforts to create a healthier and safer world, and guided by our legacy of leadership and innovation, we strive to be a Great Company. To STERIS, this means we will make a difference by providing world-class products and service solutions for our Customers, safe and rewarding work for our People, and superior returns for our Shareholders.

I've worked with Steris in the past, they have proven that Customer is the most important person in our business, to be treated with the utmost respect. Demonstrated that it's a leaders not followers. Show that the company is built on a collection of innovative ideas and a passion for continuous improvement. The employees show accountability by saying what they mean and we honor our commitments. We hold ourselves and each other accountable for our results. We prefer action today versus tomorrow.

A mission statement is an overall statement of what the company does as a business and how it succeeds. This statement is more for employees and shareholders but customers can look at them as well. It reflects on the purpose, the values, and the principles of the business. A vision statement, however, is a general statement of what the company wants to achieve in the future. I believe these two statements are very important because they attract more employees, customers, and shareholders to want to do business with them. Shareholders and employees want to be a part of something greater and a mission statement or vision statement will grasp the attention of these people. If there were no mission statements or vision statements, employees wouldn’t know what they are working towards and shareholders wouldn’t know what they’re investing in.

At Bristol-Myers Squibb, their mission statement is “To discover, develop and deliver innovative medicines that help patients prevail over serious diseases.”

Their vision statement is “To our patients and customers, employees, global communities, shareholders, environment and other stakeholders, we promise to act on our belief that the priceless ingredient of every product is the integrity of its maker. We operate with effective governance and high standards of ethical behavior. We seek transparency and dialogue with our stakeholders to improve our understanding of their needs. We take our commitment to economic, social and environmental sustainability seriously, and extend this expectation to our partners and suppliers.”

Bristol-Myers Squibb does reflect the culture and values in real life. They have a week long Patient Care Week where they invite the patients to the company for a lunch and have them talk about their success stories of how the medicine they have received from this company have helped them with their diseases like lung cancer. BMS definitely tries to create an environment where they want to help patients as well as have a good working environment for the employees.

For Celgene, their mission statement is “Provide a fully functional lab space and support to accelerate early entrepreneurial biotech companies that share Celgene’s mission and vision to change the course of human health through bold pursuits in science.” Compared to BMS, Celgene is similar to BMS where they want to help improve patient care and help patients get better, quicker.

"Shifting Health Care Models By Putting People First"
Optum

"Developing Software to Help People Get Well, Help People Stay Well, and Help Future Generations Be Healthier"
Epic

I think Optum's mission statement instills greater confidence than Epic's. The mission statement from Optum shows more action, they are committed to shifting and changing the entirety of healthcare. It is also more concise without losing meaning, which shows that they put more effort into refining it. The scope is not limited, it could theoretically be anything that shifts healthcare. The mission statement from Epic shows a more centered focus. The scope is not as big, but the statement is more patient-centered. Both companies create software to be used inside health systems. From the mission statements, the companies, although their end goal might be the same, differ in their priorities. Epic is concerned more with patient health (secondary customers), while Optum appears to hold the hospital itself to a higher priority. They mention not the patients, but the actual system (primary customers) improving.

Johnson&Johnson:

Vision: “Caring for the world, one person at a time”

Mission: “To help people everywhere live longer, healthier, happier lives.”

A vision statement conveys the ultimate goal/purpose behind the company. In other words, it states what the company expects to see in the future as a result of their efforts. The mission statement provides how the company/business intends on fulfilling it's vision statement. In the case of Johnson&Johnson, the company aims to help people by providing high-quality healthcare products and services. In other words, it aims to benefit people by findings ways to help customers improve their overall health. Another example of a vision statement would be Bill Gates' vision for Microsoft. He wanted to change the world by making a PC affordable for every household. This tells us what change he wanted to make in the world. His mission statement reflects how he wanted to the computer affordable through Microsoft Corporation by improving the software and changing the computer's design. Mass-producing the computer was an important aspect as well because there has to be enough supply to satisfy the demand. Both statements are important because having them gives company a target to aim for. You cannot hit a target that you can't see; therefore, it's very important to have goals in mind. The mission statement is a step that you take to fulfill your vision statement. Creating these statements provides a way for a company to keep focus on something and to avoid mistakes and wasting resources as their process goals will reflect both statements.

A vision statement is a company's envisionment of the future regarding where they hope to stand and what they hope to have accomplished while a mission statement states how its vision is going to come to fruition and is directed more towards the company's occupants and investors. Both are important to a company because of the motivation and inspiration they provide to all of the company's participants, not just the employees or the shareholders. According to this week's posted article "Mission vs. Vision", both statements must convince the employees, customers, and shareholders that they are taking part in a greater purpose and a more promising future rather than simply making money and satisfying upper-management.

Zimmer Biomet:

-Vision statement: "To restore mobility and improve the quality of life for patients around the world"

-Mission statement : "To lead the industry in delivering value to healthcare providers, their patients and stockholders, while embracing our social responsibilities".

Stryker:

-Vision statement: "To make healthcare better by offering innovative products and services that help improve patient and hospital outcomes".

-Mission statement reads: "Together with our customers, we are driven to make healthcare better."

Both companies specialize in orthopedics and can be expected to share similarities, though the Stryker vision is more broad with what they do by using the term "healthcare" rather than "mobility". The overall use of such broad terms in both company statements were most likely put in place to show promise in hoping to improve aspects not only in orthopedics, but possibly to other fields as well, perhaps expanding more in regenerative medicine rather than implantable prostheses. All major companies seem to have a general statement in both their mission and vision as a way of implying that the company has no limits as to what it can achieve, resulting in a vast, promising future.

The "Mission vs. Vision" article states that when conjuring a mission/vision statement, it is best to consult with representatives from all departments of a company to ensure that all of a company's participants are equally involved and inspired enough to drive the company since "a chain is only as strong as its weakest link". Are there any other similar actions that should be taken into consideration by a company when coming up with its overall goals and objectives? Is it a good idea to involve everyone in a company in coming up with these statements as "too many cooks spoils the broth", or should the decision remain solely in the C-suite with the CEO, COO, CFO, etc?

References:
Levy, Piet "Mission vs. Vision" (2011) American Marketing Association

A company I recently worked for is known as Zimmer Biomet, an orthopedic medical device company.

Mission statement: Lead the industry in delivering value to healthcare providers, patients and stockholders, while embracing our broader social responsibility.

Vision Statement/purpose: Restore mobility, alleviate pain and improve the quality of life for patients around the world.

From my personal experience working for Zimmer, these values really affect the people who work for the company. I worked for the quality department and my co-workers worked hard everyday to ensure that we delivered the highest of quality products to our patients. The team I worked for never took shortcuts and made sure everything was done to quality standards.

I had also researched Zimmer Biomet and came upon similar statements.

First of all the mission and vision statement must be discussed and differentiated.
Many people can confuse a companies mission and vision statement yet they are both distinct yet co-related simultaneously. A mission statement is a clear and concise statement that defines how the company does business and defines measures of success. These are usually one to two sentences long. The mission statement can also guide or establish the culture of the business. As many of my classmates have mentioned, the working environment is run by the mission statement of the company.

For Zimmer Biomet, their mission statement is: "Alleviate pain and improve the quality of life for people around the world."

A vision statement on the other hand is a more broad/general statement (more of a long term goal), dictating how the company and products will impact their customers, as well as the future of medical devices.

Zimmer Biomet's vision statement is:
Our commitment to patients shapes all day-to-day decisions at Zimmer Biomet. Relentless customer focus, innovative solutions, disciplined execution and our dedicated people enable us to deliver products and procedures to treat a broad range of musculoskeletal health conditions.

Although I have not worked with this company, I can assume the environment and culture of the company is driven by these statements, with the employees striving to aid those in need and improve their quality of life.