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An analysis of the mission and vision statements of Medtronic reveals the massive contribution that this company has had on the healthcare sector. With over 70 years in the medical device industry, Medtronic the impacts of this institution stands unmatched today. All this is because of the specificity of the mission and vision statement that keeps Medtronic focused on its primary objectives.
Theoretically, a corporate vision statement indicates where a company wants to be in the future, while a corporate mission statement outlines the particular strategies to advance the company towards the future. In this case, the vision statement of Medtronic is all about its medical invention capability.
On the other hand, its mission statement identifies the place of biomedical engineering in leaving a difference in the lives of its patients. It is also clear that the core values adopted by Medtronic have significantly contributed to the progressives of the company. Particularly, they create a conducive working environment to ensure everyone subscribes to the needs of the mission and vision statements of the company.
Medtronic mission statement is “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.” A look at this statement reveals that Medtronic years to constantly have positive impacts on human life through its diverse activities. The mission statement has these major components:
- Improving health
- Exceeding expectations
Medtronic satisfies the first component through its wide range of activities, all targeted towards alleviation of suffering and improvement of care. For instance, the company displays numerous treatment approaches and therapies for various disease conditions that it offers. It also shows additional services targeting specific groups of concern. There is so much that Medtronic does in the medical devices sector to ensure all its clients enjoy maximum quality services at the best rates. To remain competitive, Medtronic also keeps all its workers and professionals abreast with the latest medical developments.
Medtronic vision statement is to “(develop) innovations and implants that will cover virtually all of the human body.” Leading in medical device innovations is what this statement emphasizes. It depicts what Medtronic considers as its priority among all its major activities. The vision statement has the following components:
- Lead in innovations and implants
- All of the human body
The health sector is always under pressure to employ the latest technologies with notable value on the health of a patient. This is an area that Medtronic has identified there is an obvious gap in the supply of technological solutions. That explains why the company is so passionate about medical devices innovations. In fact, it has no limit because its work targets production of devices that can address problems in any part of the human body.
Medtronic core values comprise “shape, engage, innovate, achieve.” These are the tools that have given Medtronic an edge over other corporation running a similar business model. They ensure that the company maintains its focus which exploiting different tactics to meet the needs of all its patients.
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- Medtronic – About.