Abbott Mission Statement Analysis

Abbott Mission Statement Analysis

Abbott Laboratories is one of the top American health care companies with its headquarters in North suburban Chicago, Illinois, at Abbott Park. Since its inception in 1888 by physician cum drug store owner Wallace Abbott, Abbott’s acquirements have continued into the 21st century. Abbott specializes in heart stents & surgical devices, pharmaceutical products, diagnostic tests & instruments, medical, nutritional products, and animal health. 

The pharmaceutical company is well-known for pediatric and adult nutrition brands such as Ensure, Pedialyte, PediaSure, iStat, Brufen, Alinity, Glucerna, and Similac. In addition, Abbott ranked no. 1 worldwide in blood testing and adult nutrition in 2017. All these years, the company has made tremendous efforts to boost its presence and expand in the USA and worldwide.

Abbott mission statement is to help individuals enjoy a better future with good health. In tune with its mission, Abbott is focused to bring information, medicines, life-changing technologies, and breakthroughs to ensure the best quality of life at every stage. The healthcare company is the market leader in adult and pediatric nutrition, remote heart failure monitoring, blood screening, and point of care testing. At the same time, the company also uses technology to create products of the best quality and give accurate results. Both Abbott mission and vision statements talk about good health and the future with several possibilities.

Abbott Mission Statement

Abbott mission statement is “Live your best life now and in the future”. It simply means that the company wants to improve lives by providing cost-effective health care products and services. The global healthcare company is committed to helping people live their best possible life through health governance.

For more than 125 years, the company has brought leading products in diagnostics, medical devices, nutritional and branded generic medicines – that create numerous possibilities for the community at all stages of life. Serving in more than 160 countries, Abbott is constantly working to dedicate people not a mere long life but to a better life. 

Abbott also strives to bring up environmental, economic, and social well-being through its innovations, operations, and commitment to others. The following aspects are highlighted in Abbott mission statement.

Creating life-changing technology 

The key focus of Abbott as per its mission is to make use of technology to create a better life for the people. From monitoring the health and heart rate to providing products that keep a check on your overall health, Abbott wants people to live in the best way.

Live to the fullest 

Life is meant to be lived to the fullest, and Abbott’s commitment is to provide all the aids and technology that can help people live fulfilling and healthy life. Abbott’s approach is delivering the ultimate benefits to mankind through the right steps of action. Abbott is intended to fulfill unmet social needs by building capability, manufacturing localized products, expanding the reach, and addressing barriers.

Abbott Vision Statement 

A corporate vision statement identifies the desired future path of the company. Abbott Vision Statement is “to be the world’s premier healthcare company. Simply put, we want to be the best – the best employer, the best healthcare supplier, the best business partner, the best investment, and the base neighbor”. 

Another Abbott’s vision is “A promise for a better life”.  Let us see what underlies these two vision statements.

A society that is healthy and advanced

Abbott Laboratories aspires to play an instrumental role in the well-being of people. For this, the company emphasizes three aspects i.e. scientific expertise, business insights, and unmatched resources. Abbott also believes in a sustainable and responsible business role, which thrives on building a healthy society. From manufacturing diagnostic tools to health supplements, Abbott holds pioneering technology and an R&D team that ensures each of its products is of the best quality and assures healthier life.

Become a leading name in healthcare

To become the best in healthcare, Abbott makes use of enhanced technology, powerful innovations, and partnerships to expand the availability of healthcare products and build a strong health care system beyond the US border. The company also prioritizes the reach of its products to the people who need them.

Delivering Excellence 

The fundamental purpose of Abbott is to excel in top-quality products to people worldwide to help lead a healthy life. Also, to ensure that the company provides the best and the most advanced healthcare products, the company spends a huge sum each year on research and development.

Advancement and expansion are at the core of Abbott’s pipeline. The company has constant plans of expansions and uplifting its products; testing systems; and widen its market with useful announcements and new products.

Protecting Environment

The pharma giant focuses on safeguarding the environment just as they are determined to develop quality products. Starting from manufacturing to distribution even to the disposal of the products, the company strives to recycle and reduce the negative impact on mother earth.

Work Culture at Abbott 

In accordance with Abbott vision statement, the company aspires to Be the Best Employer and for this, it ensures a great work culture and atmosphere. The company encourages its employees to ‘grow with the leader’. It wants its employees to have a remarkable career path while working at Abbott:  They have a positive work culture that advocates friendship, collaboration, care, and encouragement. They also offer advancement opportunities to its people and inspire them to perform well and carve a unique career for themselves.  They make the employees aware of the importance of the work they do so that they are inspired to give their best, take pride in their work, and act responsibly. They also believe in recognizing the achievements of employees and have a performance-based workplace. At Abbott, the health of the employees is a top priority.

Abbott Core Values

It is the core values of the company that help to sustain for such a long time and be a market leader. Abbott core values reveal the key principles Abbott abides by that are essential for its overall success as a leader in healthcare.

Abbott follows the highest ethical standards. The company values Honesty, Fairness, and Integrity and these values are followed at all levels of the company. The company always works as per its code of conduct and acts responsibly.

Being a quality-oriented company to its standards, Abbott ensures all its operations align with the values it considers important. Sustaining for more than a century, Abbott laboratories has made it possible through its scientific practice and innovation. The pharmaceutical company has adapted itself and responded promptly to the increasingly complex healthcare changes occurring worldwide to deliver the best solutions to help people achieve their best lives. The company ensures that it serves to feel appreciated, welcomed, and directed to the right path.

The company focuses on creating a world full of possibilities, and humans can explore their potential to the best by living a better life. Abbott’s core value focuses on the research and development of products that are of the best quality. As a healthcare supplement provider, Abbott has always ensured to manufacture the best quality products, using the best ingredients that guarantee good results.

Conclusion

Abbott Laboratories’ life-changing technology help creates a positive impact on human health. The company focuses on the core aspects of research and development to continually improvise their products, thereby helping human life. Abbott’s mission and vision coherently propose that humans should live their lives to the fullest, and Abbott will support this by providing outstanding healthcare and nutritional products and supplements.

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