Procter & Gamble is one of the world’s leading suppliers of branded consumer packaged goods, selling everything from shampoo to soup. Procter & Gamble’s market strategy is to focus on its core competencies in order to create value for shareholders, customers, and employees.
Procter and Gamble, Inc., a holding company, engages in the marketing of consumer packaged goods in the United States and internationally with a market capitalization of over $21 billion.
Procter & Gamble’s Mission Statement Analysis
The mission statement continues with “our goal is to improve the quality of life by providing products and services that are essential to human well-being”. The company also states that it needs an engaged workforce which will sustain its strong operating performance.
The company’s goals in the past five years have been to achieve a net revenue growth rate from its global business of at least 3% per annum, to increase by at least 1% the per capita consumption of its products, and to improve its margins by at least 3 percentage points.
The company set out these goals with the aim of attaining high shareholder value in a way that consistently delivers higher returns than those available from investing in other companies with similar risk.
What Is Procter & Gamble’s Vision Statement?
Procter & Gamble’s vision statement is the company’s long-term aspiration. It is the company’s ways and means to achieve its mission statement objectives.
The vision statement also tells us that P&G wants to be known as a global leader in consumer brands, health and beauty care products, interactive communications, nutrition for growth, premium foods, detergent soaps, home care and management categories.
What Are Procter & Gamble’s Core Values?
Procter & Gamble’s core values are what make the company continue to be a successful firm. The company lists the following set of values as its core values:
The second value tells us that P&G aims to create long-term value by delivering superior economic returns and high returns on invested capital.
Procter & Gamble History
Procter & Gamble has been around since 1837. The company was originally founded as a textile business called William Procter & Brothers by James Gamble and William Procter, two brothers who arrived in the United States from western England.
In 1835 they started a business called “William Proctor & Company”. The name was changed to “Proctor & Gamble” by the time that the business was opened to trade.
Where Is Procter & Gamble’s Headquarter?
Procter & Gamble is a global company, and its headquarters are located in Cincinnati, Ohio.
What Is Procter & Gamble’s Stakeholder Management?
Procter & Gamble does not just have stakeholders; it has the most important stakeholders. P&G has three groups of stakeholders: stockholders, customers and employees.
The stockholders group stands to gain the most from P&G’s actions. This group needs to be satisfied as they are the ones that contribute money to help the company grow.
What Is Procter & Gamble’s Social Responsibility?
Procter & Gamble is involved in many social responsibility programs to help those less fortunate. The company makes donations to various charities such as Habitat for Humanity, World Vision and Save the Children Foundation.
Conclusion
According to the company, a successful company is one that has its employees as stakeholders. P&G’s employees are very important for the company to carry out its vision.