Johnson & Johnson, a major health care and pharmaceutical firm, voluntarily recalled a number of its products in 2010 because of quality problems. These products included hip-repair implants, contact lenses, and over-the-counter medications. Required Using information from the company’s website, the business press, or other sources, develop responses to the following:
(a) What specific quality problems were reported?
(b) What are some examples of external failure costs related to the recalls? What financial estimates are available?
(c) What new prevention or appraisal costs will the company incur in response to the quality problems?