Medtronic: Creation of a Corporate Social Engagement Strategy

Case Overview

FSG led Medtronic in the definition and design of an action-oriented corporate social engagement strategy that could keep pace with the company’s own growth and ambitions.

The Challenge

Medtronic’s history of corporate citizenship was impressive, but it struggled to shift from corporate philanthropy – led primarily by its Medtronic Foundation – to true corporate social engagement. Medtronic sought both a vision and a plan, with an emphasis on the development of a signature commitment that could galvanize the entire corporation.

Approach & Solutions

Internal and external interviews and benchmarking, combined with a thorough review of the company’s existing philanthropic initiatives, shaped a two-pronged vision statement for Medtronic’s corporate social engagement:

Operate responsibly in all facets where business intersects with society

Catalyze dramatic improvement in Medtronic’s core area of chronic disease

This vision continued Medtronic’s track record of good corporate citizenship while paving the way for new company-wide opportunities that would use Medtronic’s assets in a unique way.

FSG led Medtronic to identify a signature commitment to align its business strategy with its corporate social engagement strategy, creating both business and social impact simultaneously. The Greater Access Platform (GAP) was born. GAP pushes each of Medtronic’s business units to accelerate the pace at which Medtronic’s therapies will reach millions of new, low and middle income patients who do not currently have access. Medtronic has the opportunity to save lives while expanding its business footprint and profitably serving new patients.

A comprehensive corporate social engagement plan was developed by FSG and adopted by Medtronic’s senior leadership team. A new governance structure was recommended to oversee the company’s social engagement efforts and evaluate progress. A detailed action plan moved the vision from concept to action, outlining a potential first GAP innovation that could expand Medtronic’s market, and save lives.