Here we are going to talk about the analysis of the Medtronic Mission Statement and Medtronic vision statement of Medtronic, a major medical technological firm. It will show you the enormous contribution of the organization that they had made to the healthcare industry.
So, let’s take a quick look at the Medtronic Mission and Vision Statement, that made the company successful along with helping society throughout its innovative work:
Medtronic is one of the leading companies that specialize in offering medical devices throughout the healthcare system of the United States of America. With more than 70 years of experience in the medical device industry, the impact of Medtronic remains boundless today.
Everything is made to be possible due to the mission and vision statement of Medtronic that keeps the company determined to achieve its basic goals.
The company is mainly based in Ireland, but the largest market is in the United States. However, the company was in controversies for having shared in the big scandals, though it remains one of the biggest medical technological organizations amongst in the world.
The company has extended its business to over 140 countries and employing near about 100,000 people.
Also, the company is more committed to adding value to society and contributing improvement of communities around the globe via enlarging the healthcare system, philanthropy, and volunteering.
Mostly, a vision statement of an organization mainly specifies the future position of the company along with the primary objectives. Whereas the mission statement reveals the specific tactics to propel the organization forward in the future. Here, in this case, Medtronic’s vision statement tells only about the medical invention efficiency of the company.
While its mission statement emphasizes the importance of biomedical engineering in enhancing the lives of its patients. Also, the company has few core values which significantly have made important contributions to the growth of the company.
They specifically provide a comfortable and healthy working environment to every employee that they can realize the importance of having the company’s mission and vision statements.
It would be the best way to get an overview of Medtronic as a leading company is to realize its mission and vision statements carefully.
Analysis of Medtronic Mission Statement
Earl Bakken, a Medtronic co-founder, wrote the Medtronic Mission in 1960, also providing an influential vision for the organization. After a half-century, the mission statement becomes Medtronic’s ethical framework and motivational focus for the employees throughout the world.
Medtronic’s mission statement reveals: “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.”
The statement releases the continuous positive impact of the company on human life via its versatile activities.
The first part of the mission statement, “To contribute to human welfare…” may be the most revealing part of the entire message. The mission of the company is mainly to help humanity by investing in the research, design, and manufacturing of medical technological devices.
Although, there is one part to the company’s mission statement that seems to be less obvious the first time you read it.
The truth is that, despite offering a wide range of medical devices, Medtronic remains focused on pain alleviation and life extension. That’s why it is mentioned in its mission statement “alleviate pain, restore health, and extend life.”.
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However, the extension of life by a device is merely subjective, and the fact that the company’s mentions are quite strange because all medical appliances in one way or the other prolong life.
The mission statement possesses these major components stated in the following:
- Improving Health
Along with expanding the advanced healthcare system and technology to more people, Medtronic has made the world a healthier place. But Medtronic cannot make this happened alone. So, with the help of other partners around the world, the company multiplied its efforts easily. Medtronic had introduced innovative technology with modernizing payment and delivery models.
Many patients and communities fail to get access to advanced healthcare or medication they need when they actually need it. Medtronic Labs is developing healthcare delivery business models in collaboration with and for impoverished populations. They incorporate digital and product innovations across the patient care spectrum.
- Exceeding Expectations
Medtronic is very much focused on its future goals to achieve. They have expanded the area of advanced medical technology and enable more people to access those medical benefits. It has made the desires come true by its mission and vision statement through its wide range of activities and innovations. The company exhibits a number of medical treatment therapies and approaches for different medical disorders.
- Contributing companies around the globe
As a leading company around the globe, Medtronic contributes to the whole communities over the world through volunteerism, philanthropy, and growing healthcare coverage. The Mission informs Medtronic that its highest priority is to improve human health by contributing to human welfare
- Philanthropic Efforts
Medtronic philanthropic activities including of financial contributions such as volunteerism, charitable funding of the Medtronic Foundation, third-party medical education, and donations of product to assist patients is the best approach for the employees to increase the value of the company to the society.
- Supporting individuals and communities
Medtronic, a mission-driven multinational organization with 86,000 staff, is well placed and strongly inspired to assist individuals and communities.
- Empowering Women talent
A key priority for Medtronic is to build a strong platform for showcasing female talent at all levels of the enterprise, especially in leadership positions. If you are willing to be a part of this business that is making a positive impact on the lives of people all over the world, search and apply for opportunities now.
Analysis of Medtronic Vision Statement
Medtronic’s vision statement defines “(develop) innovations and implants that will cover virtually all of the human body.”
This statement highlights the company’s leadership in medical technology and innovation. It depicts Medtronic’s top priority among all of its key activities.
At first glance, the vision statement seems to be a mirror representation of the mission statement. If you read it properly, you will see that it is divided into two sections. The first one is the “(develop) innovations…” The company already invests significantly in emerging new and innovative products but this is a special form of inventiveness that that drives us to the second part of the vision statement.
“implants that will cover virtually all of the human body.” This is an intriguing part of the mission statement because it points out implants, especially the one thing that covers the whole human body. Although we can think about what these implants might do, the organization has been known to work on a variety of implants over the years.
The vision statement has the following components:
- Plays a lead role in innovations and implants
- All of the human body
The healthcare sector is continually under stress to use the latest and cutting-edge technologies that have a direct impact on a patient’s health. Medtronic has found an apparent gap in the availability of technical solutions in this field.
That demonstrates the company’s enthusiasm for medical device innovation. In reality, it has no boundaries and they mainly focus on the development of devices that can solve issues in any area of the human body.
Medtronic’s core values include “shape, engage, innovate, achieve.” These are the techniques that have given Medtronic a strategic advantage over other companies with identical business models. They make sure that the company retains its emphasis by using various strategies to address the demands of all of its patients.
Medtronic’s fundamental principles, including its mission statement, emphasize creativity, engagement, and achievement. When it comes to interacting with consumers and promoting creativity, the organization has proved itself more than capable over the years.
It has accomplished a lot of popularity, and as a result, they have encouraged others to attain success as well. While the value “shape” is elusive, most analysts believe that it applies to defining the future of the medical industry.