EXECUTIVE SUMMARY

The Procter & Gamble Company (or P&G) began in 1837 as a partnership agreement between William Procter and James Gamble. The small business, initially a soap and candle shop, is now an American multinational consumer goods company ("Company History"). 

P&G has become one of the world's largest consumer goods manufacturers, marketing branded products in the Household and Personal Products Industry. P&G's wide range of products, abundance of employees, and operations in 80 countries around the world has led the company to thrive in the world of business ("Company History"). 



ENTREPRENEURSHIP

William Procter (left) and James Gamble (right)

The Procter & Gamble Company was founded in 1837 by William Procter, a candle-maker, and James Gamble, a soap-maker. Before they met and signed the partnership for P&G, they ran their own separate businesses ("Our History— How It Began").

In London, England, William Procter strived to fulfill his dream - to open a woolen products store. However, before his store even got the chance to grow, it was destroyed by fire and the shelves were emptied by burglary, leaving Procter $8,000 in debt. Determined to start over, he and his wife immigrated to Cincinnati. Along with his new clerk job at a bank, he decided to use his experience as a candle maker  to fight his way out of debt. Procter became a sole proprietor by manufacturing, selling and delivering candles ("William Procter"). Meanwhile, James Gamble immigrated to Cincinnati as part of a mass exodus from Ireland. When he was eighteen, James became a local soap-maker ("Our History— How It Began"). Both established themselves as entrepreneurs, beginning their careers as businessmen by utilizing the abundance of animal fat found in Cincinnati, a key ingredient necessary to produce both candles and soaps ("Procter & Gamble Company"). Little did they know, Cincinnati would become the birthplace of the Procter & Gamble Company. 

William Procter and James Gamble were married to sisters, Olivia and Elizabeth Norris. Their father-in-law, Alexander Norris, suggested that the two men should sign a partnership to create a small family-owned business. On October 31, 1837, Procter and Gamble merged their businesses, creating The Procter & Gamble Company ("Our History— How It Began").

William Procter and James Gamble were autocratic entrepreneurs as the company relied on the two of them to make all decisions for the company. By the beginning of the 1860's, P&G was a small factory with 80 workers ("A Company History").

As P&G continued to thrive, the business began to extend through the families of Procter and Gamble. For example, in 1879, James N. Gamble - son of James Gamble - invented Ivory Soap, a branded soap that is still used to this day ("A Company History"). In 1890, Procter's son, William A. Procter, became the first President of P&G ("Our History— How It Began").

CUSTOMERS & COMPETITORS

Procter & Gamble, one of the world's largest manufacturers of branded consumer packaged goods, is divided into two global units: Beauty & Grooming and Household Care ("The Procter & Gamble Company Company Profile"). 

Some products marketed by the company are shown below:

P&G's strength is demonstrated through marketing such a wide array of products. With a large portfolio of branded products, it is evident that P&G sells products to consumers of all ages, races, and sexes.

Beauty & Grooming helps teenagers, men, and women in maintaining personal hygiene. However, target consumers differ for each products. For example, the majority of individuals who use shavers are men over the age of eighteen – especially those who are married. These men are more particular about a “fresh, clean shave” not only to maintain their appearance, but also to please their significant other who prefer smooth faces over stubbly beards (Romanowski). Skincare, on the other hand, targets women who are sixty-five or older and earn $25K-$44.9K. This specific age group is more concerned about preserving youthful skin by preventing wrinkles and dark spot. They can also afford the expenses of these skincare items (Fay).

Household products are user-friendly to adults and children, as well as pets.

For example, men and women are more likely to have purchased home laundry products when they have children who are under eighteen. Parents believe that doing laundry is a household duty and that it is an essential part of taking care of the family (Owen). Toilet paper is most commonly used household paper product. Regardless of income level, 98% of respondents to the Experian Simmons NCS/NHCS survey use toilet paper. Only 79% of household indicate that they use facial tissue and 74% say they use paper napkins (Owen).

P&G’s assortment of different products contributes to P&G’s status in the Household and Personal Products Industry, recognized by Fortune 500 as rank number one in the Household & Personal Products industry. The company’s major competitors are Kimberly-Clark, one of the world's largest makers of personal paper products, and Colgate-Palmolive, a top global marketer of toothpaste and cleaning products, which are ranked second and third in the industry, respectively ("Fortune 500: Industry: Household and Personal Products").

Some competitive factors in these industries include product quality, product performance, packaging, and corporation recognition. While these companies focus mainly on paper products or cleansing products, P&G has to focus on all the brands it markets. Meanwhile, P&G does not specify in paper products, it just sells a larger variety of products compared to Kimberly-Clark and Colgate-Palmolive. Thus, P&G is the leading manufacturer of Household and Personal Products in the world.

The rising inflation of the world's current weak economy is a threat to P&G. Future intense competitive pressures in the Household & Personal Products Industry are inevitable, but Procter & Gamble will continue to focus on the development of new products, innovation in existing products, development of new technologies, and brand building to maintain its position in the industry and grow as a business ("DATAMONITOR: The Procter & Gamble Company").

("DATAMONITOR: The Procter & Gamble Company").

INFORMATION TECHNOLOGY

Procter & Gamble has increased utilization of technology to improve productivity, decision-making, communications, and sales. While most of P&G’s products are sold in Wal-marts, Targets, and supermarkets, the company began to adopt e-business methods to keep up with the implementation of technology in business.

E-commerce allows P&G to produce and sell products that satisfy individual needs through facilities available on the Internet. P&G online store, www.PGestore.com, is a website where consumers can purchase P&G products and have them delivered straight to their door ("Procter & Gamble Launches a Retail Web Site"). P&G uses technology to express gratitude towards loyal customers.

The company does so through www.PGeveryday.com, which provides samples and coupons, along with articles and tips on products to customers (Spies). These deals and discounts are a way for P&G to give thanks to consumers, as well as attract people to purchase products not only in store, but also online.

Procter & Gamble has also taken steps to improve technology within the business itself. P&G’s Global Business Services (GBS) team is responsible for the company’s progress and growth by providing technology and standard data tools to help the company operate faster, better, and more efficiently. The team’s focuses on digitalizing the company, which transforms the way business is done at P&G ("P&G's Global Business Services Organization Earns Praise").

For example, the GBS team digitalized the company by introducing Video Collaboration Studios in 2008. The Video Collaboration Studios creates an environment where employees are able to connect instantly from any part of the world ("Corporate Structure"). This new face-to-face system greatly reduced the need for travel and saved time needed to travel, as employees no longer needed to be at the same place at the same time to accomplish tasks. The system replaced key business hubs, which as a result, reduces P&G’s carbon footprint. The company could now have meetings or carry out projects virtually through the Internet. Ultimately, these advancements in technology are significant, as they helped P&G save money – more than $900 million to date ("Corporate Structure").

P&G progression to utilizing information technology – by communicating with its customers to help improve quality of products and using of the GBS model as a tool to increase productivity and lower costs – will continue to contribute to the company’s success. 

GLOBAL ACTIVITIES

P&G World Headquarters (Cincinnati, Ohio)

To fulfill Procter & Gamble’s corporate strategy to “Think Globally” and “Act Locally,” P&G operates domestically in the North America as well as internationally. While the company is headquartered in Cincinnati, Ohio, P&G also operates in Western Europe, Asia, CEEMEA – which includes Central and Eastern Europe, the Middle East, and Africa – and Latin America ("Set Your GPS for Success").

 P&G operations can be found in the following regions and countries:

The company's global operations allow P&G to better understand local communities by adapting to local expectations as they vary across nations ("Global Structure & Governance"). In other words, by operating in an abundance of countries, P&G is closer to the people and can more easily track trends in the purchasing of products in certain areas and therefore can focus on manufacturing and selling these products specific to where they are higher in demand. For example, the developing economy in South Africa led to a higher quality of life, which thus led to a greater demand in products with value such as Pampers disposable nappies and hair care brands Pantene and Head & Shoulders ("South Africa; Booming Health And Beauty Market Set for Years of Growth”). By understanding the growth in the South African economy (as well as other countries), P&G can measure supply by consumer demand in the different locations of the company’s operations.

P&G’s increase of globalization is a strategy to maximize exposure around the world is significant in that it allows the company to remain competitive internationally, benefit from economies of scale, and most importantly – maximize revenues. P&G recorded $83,680 million in revenue, 39% of which were from domestic sales.

As P&G’s domestic and largest geographical market, North America’s revenues reached $32,635.2 million in FY 2012. Second to America, is Western Europe, which accounted for 19% or $15,899.2 million of P&G’s total revenues in FY2012. Asia, which accounted for 18% of the total revenues in FY2012, reached $15,062.4 million. CEEMEA accounted for 14% and Latin America for 10% of the total revenues in FY2012 ("DATAMONITOR: The Procter & Gamble Company"). 

These numbers break up the total revenue to determine where money is generated. If P&G continues to focus specifically on its Western Europe and Asian market, while also developing and improving its less successful operating countries, the company will show even greater profits in the future. P&G reaches out to consumers in India, for example, by changing the formula of products to accommodate with different preferences. India's laundry market demanded detergent that were mild and soft on hand as 80% of consumers (or 200 million households) hand wash their clothes. P&G launches Tide Naturals, which satisfies these needs and is also much cheaper than the original Tide ("Touching & Improving Lives in Asia").

In FY2012, P&G saw a 3.2% increase in revenues compared to FY2011 as a result of globalization ("DATAMONITOR: The Procter & Gamble Company"). However, the recent economic collapse that has slowed business globally has made it imperative that Procter & Gamble continues to maintain its business in international markets.

ETHICS & SOCIAL RESPONSIBILITY

Procter & Gamble is a competitive company that not only strives to achieve leadership and business success, but it is also concerned with how those results are achieved. P&G’s enforcement of ethical activities and decision-making through “doing the right thing” is the foundation of P&G as an organization ("Our Worldwide Business Conduct Manual"). As a result, P&G strictly requires the upholding of the company’s Purpose, Values, and Principles (PVPs) in day-to-day work and in all decisions that the company makes. Its business has grown because they have endured these fundamental values ("Our Values and Policies").

P&G states, “We want our customers, consumers, fellow employees and business partners to know that we do what we say, and we say what we mean. This reputation, built over time and rebuilt every day, is what sets us apart” ("Our Worldwide Business Conduct Manual"). To ensure that all employees and business partners know how the PVPs work, P&G provides a code of ethics, which enumerates the things P&G does right. The “we do the right thing for each other” clause promotes respect in the work place, ensuring fair employment practices, ensuring workplace health and safety, and protecting employee privacy. P&G does the right thing for its consumers, customers, and business partners by ensuring product safety, engaging in fair dealing and fair competition and communicating accurate information with media and analysts (Our Values and Policies"). 

P&G does the right thing for its shareholders and its employees by acting in the best interests of the company through handling potential conflicts of interest, keeping P&G information secure, and maintaining accurate records. P&G’s commitment to being good global corporate citizens, as they believe they assume responsibility to society to use its resources to help those in need by protecting the environment, preventing bribery and corruption of government officials, money laundering, interacting with the government, and establishing trade controls ("Our Values and Policies"). 

P&G specifically commits to this clause through its Live, Learn, and Thrive program. This social responsibility program strives to improve the lives of children in need by helping them get off to a healthy state, offering them the access to education, as well as help them build skills for life. P&G’s Live, Learn and Thrive program helps disadvantaged youth around the world, in over 65 countries everyday (“Live, Learn and Thrive”). Some of these programs involve providing life-saving vaccinations and safe water in Africa, safe homes across Europe, educational opportunities in Asia, essential nutrition in North America, to early childhood development in Latin America. Through P&G Live, Learn and Thrive, the company believes it can make a meaningful difference. 

HUMAN RESOURCES

Procter & Gamble’s human resources department is a major asset that contributes to P&G’s success. P&G employs over 129,000 individuals in over 80 countries worldwide. Still, the company looks for innovative and determined people to join the company (“Set Your GPS”).

P&G’s extensive and vigorous hiring process ensures that the company only employs individuals who show qualities such as infinite curiosity, eagerness to create, agility, and trustworthiness. To do this, P&G applicants must take a series of standardized assessments and go through an interviewing process that is designed to identify unique strengths and provide a comprehensive overview of skills, experiences, and abilities. P&G’s approach allows the company to find and welcome the best of the best into the company (“Hiring Process”).

In the first step of the hiring process, an individual should search and apply for jobs on www.experiencedPG.com. On this site, P&G offers many job opportunities for those who seek to enter the work force. The company divides its many jobs into different levels: business, technical, and non-management. The business level of jobs include communications, consumer & market knowledge, customer business development/sales, design, finance & accounting, human resources, intellectual property/legal, and marketing. Technical jobs include engineering, IT/information & decision solutions, research & development, and supply network operations/logistics. Non-management jobs include administrative jobs and plant technician jobs.

Step two requires the individual to assess skills through several tests. The Success Drivers Assessment, which is online, assess an individual's background, experiences, interests, and work-related attitudes ("Hiring Process”). The Reasoning Screen (also online) tests the applicant’s ability to think critically by measuring your cognitive ability. Last is the Reasoning Test, which is taken in person. It measures reasoning skills using numerical, logic-based, and reasoning questions.

If the individual passes all these tests, he/she is chosen for an Initial Interview where the company gets to know the applicant, and the applicant gets to know the company. The individual will then be invited to the Final Interview, where the company further analyzes and understands the applicant’s skills and capabilities. If the applicant proves to be outstanding and a great fit for the job, he/she will finally become an employee for Procter & Gamble. P&G states, “we identify the best applicants by using a proven recruiting process that measures intelligence, assesses character and leadership, and predicts success at P&G” ("Leadership Development").

Through this process, P&G brings together individuals from different backgrounds, cultures, and thinking styles, which establishes P&G’s Diversity & Inclusion. Diversity & Inclusion ensures that P&G’s human resources will consist of remarkably different talents, perspectives, and career experiences. In addition, its mission is “Every Valued, Everyone Included, Everyone Performing at Their Peak™,” which attracts new employees and contributes to P&G’s competitive advantage ("Diversity & Inclusion").

While P&G attracts new employees into the company, it must also maintain quality human resources by offering benefits. P&G sponsors various post-employment benefits including pension plans, both defined contribution plans and defined benefit plans, and other post- employment benefit (OPEB) plans, consisting primarily of health care and life insurance for retirees ("P&G 2012 Annual Report"). P&G's health plan is flexible and given to employees who work 18 hours per week. Family coverage and retiree coverage is also available on the health benefits plan. This plan includes dental coverage, eyecare, and traditional medicine coverage (Yerema and Leung).

OPERATIONS

Procter & Gamble integrates operations research (OR) principles into the decision-making structure of the firm to save costs and reduce surplus inventory, improving the company’s growth (How Operations Research Drives Success at P&G). These OR techniques settle issues such as global manufacturing inventory management and supply chain management. In 2004, INFORMS (Institute for Operations Research and the Management Sciences) awarded P&G the Informs Prize for these OR advances ("Promoting Operations Research").

Inventory management in a company of P&G’s size requires organization and specific tools. The spreadsheet-based inventory model allows P&G to track and organize data, thereby giving the company inventory control and management of supply chains (Farasyn et al., 2001). P&G must make sure that products are always on shelves, because if the desired product is not readily available, the company will potentially lose a consumer to a competitor.

 (This is an example of what the inventory spreadsheet may look like)

P&G’s OR advances also include modeling non-stationary demand to reflect consumer demand when it launched its Consumer-Driven Supply Network (CDSN) Program, which establishes a flexible and responsive supply network that produces what is actually generating sales ("Procter & Gamble Fact Sheet"). The program tracks its products and sees what specifically is being bought. The company then sells and sends out more of these certain products out to its retail stores.

In 1985, P&G began using electronic data interchange (EDI) for automatic information of customers' daily sales. As a result, P&G was able to estimate a just in time supply of products, which ensures that products arrive just when they are needed so that storage and holding costs are minimized. P&G instituted Efficient Consumer Response (ECR) in 1992 which requires the sharing of the retailer's sales and advertising information with the supplier. This information is used to generate orders shipped from the supplier based upon projected customer demand.

P&G implemented “Smart Packaging,” a system that enables the company to look at its supply chain from a consumer’s perspective. Smart Packaging makes sure that each product contains a “chip,” creating an easy way to track products whether they are in the factory, trucks, or in stores. This innovation will dramatically increase supply chain efficiency. Smart-chip technology will result in fewer out-of-stocks, greater on-time delivery, better products, and an enhanced user experience for consumers ("Cisco Success Stories Customer Profile: Procter & Gamble").

P&G’s supply network operations established horizontal process networks (HPNs) across all the entire company, which operates in 80 countries. HPN members include GBU representatives, information technology (IT) service managers, and global business and technical experts who define, manage, and execute work processes by developing a globally standard solution sets across P&G’s business operating units (Farasyn et al., 2001).

MARKETING

Procter & Gamble’s promotional strategy is to focus on developing consumer understanding, marketing, and brand‐building techniques. The company implements marketing campaigns that target consumers when and where they are receptive (Grove).

When radio stations became popular in the 1920s, Procter & Gamble pioneered product advertising when it became the first company to advertise directly to its consumers ("Procter & Gamble (US)"). The company decided to innovate new advertising strategies through sponsoring several radio programs, which told dramatic stories with plotlines consisting of situations like families facing hardship or happiness through radio stations. These shows became known as “soap operas” that eventually ended up on television. P&G’s As The World Turns has not only entertained a worldwide audience, but also has provided P&G a platform for their brand messages ("As P&G’s Soap Opera Era Ends, Our Innovation in Entertainment Continues"). These radio stations and soap operas targeted women who at the time were generally no in the workforce, and stayed home listening to the radio or watching television.

Throughout the decades, P&G’s soap operas have lost views. The company needed a new way of promoting its brands. P&G continued using television to advertise products through modern commercials. For example, Tide® - one of P&G’s detergent brands - launched its Tide VIVID White + Bright and Boost commercial featuring actress Betty White, a Hollywood star to promote its product. Rather than continuing with soap operas, P&G adopted commercial methods of promotion. TV commercials are much more effective as they are short and to the point, and may also feature celebrities that may spark interest in the consumer or even, make the product seem more credible ("Tide(R) Launches Its First Bilingual TV Commercials in English and Spanish Top Networks").

P&G also integrated the use of the Internet to improve its ability to market and advertise products. This new technology became a part of the P&G’s market plans by integrating advertisements that engaged consumers online (P&G Shifts Marketing Strategy From Soap Operas to Social Media). Recently in September of 2012, P&G partnered with Google to launch a Gillette branded YouTube channel that offers football content for the male population. With this Gillette YouTube channel, P&G not only targets all males that are 18 or older, but anyone who has any interest in football (Men's Grooming and Toiletries - US - October 2012). YouTube promotion is especially successful in today’s age as YouTube is used as a video search engine that engages viewers, who are ultimately consumers.

P&G was a pioneer in advertising and marketing and continues to innovate by brand building in a digital world. P&G was recognized for its promotions strategies and received the Advertising Hall of Fame Award in 2010 (Kasi).

With the current increase in the use of social media and networking websites such as Facebook and Twitter, it would be beneficial if the company were to promote its brands through these web pages. For example, P&G can offer exclusive coupon codes through Facebook ads or tweets to lure more consumers to buy its products.

In 1941, P&G became the first company ever to create a public relations department that gave P&G a distinct competitive edge over other companies. Consumers were given the chance to offer personal opinions or suggestions on products, while P&G can in return make adjustments to better satisfy the customer. This not only improves communications between P&G and its customers, but also gives the company insight on product issues, as well as providing sophisticated, higher quality goods for the consumer.

FINANCE

Finance plays a significant role in Procter & Gamble, as it enables the flow of money through the company. P&G, like all other businesses, must record a summary of the company’s assets, liabilities, and shareholders’ equity, allowing the company a way to show the public how their money is invested and managed.

The company currently owns a total of $132,244 million in assets, a total of $68,209 million in liabilities, and a total of $64,035 million in shareholders’ equity ("P&G 2012 Annual Report"). According to Yahoo! Finance, Procter & Gamble’s market cap is currently 181.91B in comparison to the company’s competitors, Johnson & Johnson at 190.98B and Kimberly-Clark Corporation at 32.81B ("Procter & Gamble Co. (PG) Competitors"). 

During its fiscal period – from June 30, 2011 to June 30th, 2012 – P&G recorded a debt to equity ratio of 0.4708 and 0.465, respectively ("P&G 2012 Annual Report"). Recently, on September 30, 2012, P&G recorded a 0.4908 debt to equity ratio ("Procter & Gamble Debt to Equity Ratio").

As recorded from August 30, 2012 to November 14, 2012, Procter & Gamble’s stock prices ranged from its lowest at $66.53 to its highest at $69.73 on September 25th.  One factor that contributed to this peak was the sponsoring of the National Football League, whose season began on Sept. 5th. The NFL contributed to the growth of P&G’s stock because the league’s official laundry detergent is P&G’s Tide brand (Newman).

The most significant contributor to P&G stock peak was when the company launched its “Best Job” commercial for the London 2012 Olympics. The commercial, which was a part of the 

Thank You, Mom Campaign “celebrates the role moms play in raising Olympians and in raising great kids” (P&G Earns Praise For ‘Best Job’ Commercial, Innovation, Sustainability Efforts). P&G launched a culturally diverse commercial, which featured local actors and athletes from London, Rio de Janeiro, Los Angeles, and Beijing. The company was not only successful in that it received the Primetime Emmy Award, but also saw it’s stocks hit a peak point during this four month period (Wever).

On Oct. 28th, P&G experienced again another peak in its stocks due to anticipation of Hurricane Sandy. Duracell, a P&G brand, dispatched a truck, which offered free batteries and access to charging lockers for both mobile devices and computers to the New York metropolitan area (Elliot). As batteries were in great demand – especially for products such as flashlights – P&G’s Duracell saw a boost in battery sales.

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