Proctor & Gamble Company commonly referred to as P & G is a multinational consumer goods manufacturer. The company was founded in 1837 and it ranked 27 among the Fortune 500 companies. As of 2012, P & G had revenue of US$ 83.68 billion, sold products in more than 180 countries and had employed 129,000 (pg.com, 2013). P & G has managed to survive all the years despite radical growth in technology, political changes, and economic trials and tribulations because of adhering to strong values.
The reason for P & G’s success is based on its Purpose, Principles and values. The company’s values are Leadership, Ownership, Passion for winning, Integrity and trust (pg.com, 2013). The purpose of the company is to provide branded products that improve the lives of consumers all over the world. By providing the world’s population with innovative products that improve lives in small but meaningful ways, P & G has endeared itself to people all over the world and overcome radical changes in businesses (Dyer, Dalzell & Olegario, 2004).
P & G has also established a strong Research and Development (R&D) team that works extensively to keep the company abreast with technological changes, consumer demands, and unexploited markets among other things (Dyer, Dalzell & Olegario, 2004). P & G has always practiced political neutrality and cordial relations with all existing governments thereby enjoying favorable political goodwill in spite of intense radicalism in American Politics. Strong financial records, outstanding relationships with financiers and sound financial practices (accounting and auditing) have seen P & G overcome economic trials and tribulations such as the Great Depression of the 1930s (Dyer, Dalzell & Olegario, 2004).
P & G is widely known for developing outstanding business leaders. Since its inception, the company formed a habit of recruiting and training top students from the world’s leading universities (Dyer, Dalzell & Olegario, 2004). By recruiting, training, nurturing and retaining talent, the company has managed to have visionary and competent leaders for all its existence. In their leadership, P & G leaders base their leadership on the founding principles of the company’s founders, “people first” approach.
P & G has largely been ethical in its dealings. Its “people first” approach forms the core character in its employees. This approach is emphasized by the core values of Integrity, leadership and trust. P&G has retained the trust of its customers and gained greater market shares as a result thereby gaining greater profitability.
References
Dyer, D., Dalzell, F. & Olegario, R. (2004). Rising Tide: Lessons from 165 Years of Brand Building at Procter & Gamble. Harvard Business School Press.
http://www.pg.com/en_US/company/purpose_people/pvp.shtml
