Study of Procter and Gamble
A Company like Procter and Gamble can attract the attention of any one in the whole world. It made and still makes the life of any individual much easier by providing him with reliable products that he appreciates for their superiority and their safety. Today, in Egypt, the products of Procter and Gamble have conquered the Egyptian market. In every house, one or more products are found. As a result, the Egyptian local products could not compete with this outstanding quality that P & G offers. The public is interested in gathering more information about the company. That is why, knowing more about the earlier foundation of the firm, its purposes and core values, the process of innovation of its products, its annual report and the link between it and its branch in Egypt could satisfy the people's curiosity.
Procter & Gamble refers to William Procter, who "established himself as a candle-maker", and James Gamble who "apprenticed himself as a soapmaker" (P&G History 1). Procter and Gamble first started in 1837 in Cincinnati. At that time, the marketplace in that country was not encouraging to run businesses because of many financial problems. Despite that, P & G ran their company. More specifically, on 12 April 1837, William Procter and James Gamble started to produce and to offer these products to customers. They both started with two main products, which were soap and candles. At the same year, and precisely on 31 October 1837, Procter and Gamble signed up the contract of their partnership and started their business together. Twenty years after signing the contract, P & G sales reached $1million and at that time the company had about eighty employees. In 1862, and during the civil war,
P & G Company was ordered to produce a big quantity of soap and candles to fulfill the Union armies' needs. Seventeen years later, a new type of soap called "Ivory" was invented. By 1890, the types of soap that P & G was producing were about thirty taking into account the "Ivory". In the same year, the demand for soaps was increasing. Thus, to be able to meet the customers' increasing demand of their products, P & G company decided to expand the business to go outside Cincinnati to reach overseas and this "increased capacity and improved distribution of products to customers" (P&G History 2). Later on, P & G started to develop more products and this happened in 1911 when P & G Company introduced for the first time "Crisco", which is a type of vegetable equals to the butter, but was more economical. One century after the establishment of the P & G, "sales reached $230million" (P&G History 2). Throughout years, P & G continued developing new products. In 1987, the company was chosen to be "the second oldest company among the 50 largest fortune 500 companies" (P&G History 3). Five years later, "P&G received the World Environment Center Gold Medal for international Corporate Environmental Achievement" (P&G...