Business essay

1-1 Discussion, Boller
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Sarah Boller

My business plan is a cannabidiol cosmeceutical intrapreneurial venture for Johnson & Johnson. The company is a conglomerate and a leading competitor in the personal care products market. Intrapreneurial ventures fail 70% – 90% of the time, according to Harvard professor Beth Altringer. In large organizations the things that can be done to make these ventures successful are not done due to a lack of time or resources (Altringer, 2013). Johnson & Johnson has vast resources available and over a century of experience to guide them towards success with a cannabidiol cosmeceutical. The company has other cosmeceuticals (under their brand Neutrogena) but has not yet tried to use cannabidiols from the hemp plant as the therapeutic ingredient. They aren’t reinventing the wheel, but reimagining it. Some of the most successful “innovations” of our time were not true innovations; for example Steve Jobs/Apple didn’t invent many new things, instead they revamped existing innovations to make them more enticing to consumers. Johnson & Johnson can do the same thing with a cannabidiol cosmeceutical.
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