Procter&Gamble Essay Example | Topics and Well Written Essays - 500 words

Procter&Gamble - Essay Example ledge and learning, discipline and thoroughness are part of Procter and Gamble’s ideals of best practice.By implementing profit sharing, the company reinforces loyalty for the company, mutual respect and trust between management and workers. Among the principles and values are a deep commitment towards customers’ best interests, social service, employees’ welfare and business operations that are simple, direct and transparent. (Dyer et al, 2004: ix, 46, 305). Increasing intense competition from Unilever, Johnson and Johnson, Kimberly-Clark, L’Oreal and other companies is weakening the company’s position in the share market. Further, demand for consumer goods is impacted by the soundness of the United States economy and particularly by corporate profits. Also, investigators have uncovered the fact that animal testing is being done by the company in harsh conditions for its cosmetic and drug manufacturing units (Swasy, 1994: 196). Since consumers are aware of the ethics behind production and the need for corporate social responsibility, this may affect the marketability of its products. Acquisitions such as the recent one of Gillette prove to be mutually beneficial (Hannon, 2008: 46). Further, developing the different markets which are opening up opportunities for P & G to establish itself has to be done with priority product categories, and the organization to be developed to carry out the strategies have to be planned (Conklin, 2006: 189). Technological advances have made it possible to increase the rate of production several times, thus reducing overhead costs (Swasy, 1994: 97). With the aging population all over the world increasing in proportion, as compared to a decade earlier, the growing need for skin care and pharmaceutical products along with research development has opened up new opportunities in these spheres. Competitors have been devoting more research funds to cosmetics than to detergents or other products, with higher profit margins