Johnson & Johnson Corporation is leading medical technology company headquartered in New Brunswick, New Jersey, that trades on the New York Stock Exchange. Following are selected financial data for Johnson & Johnson for the period 2011 - 2015.

2011 2012 2013 2014 2015

Profit margin (%) 16 17 16 15 11

Retention ratio (%) 80 82 84.3 76.2 70.1

Asset Turnover (X) 0.8 0.8 0.8 0.8 0.7

Financial leverage (X) 1.5 1.5 1.5 1.5 1.8

Growth rate in sales(%) 0.15 9.0 14.5 4.2 4.2

(Data was assumed for practice)

a. Calculate Johnson & Johnson's annual sustainable growth rate from 2011 - 2015

b. What growth management challenge did Johnson & Johnson face during these years?

c. How did Johnson & Johnson deal with its growth management challenge?