Procter & Gamble

By: EconomyWatch   Date: 16 July 2010

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In 2008, Procter & Gamble was ranked #31 by Forbes Global 2000. Procter & Gamble, a producer of consumer goods, operates three business units of beauty and health, Gillette GBU and household care.
According to Forbes Global 2000, Procter & Gamble scored well on market value and profit parameters. This public company is headquartered in Cincinnati, Ohio in United States. Procter & Gamble has a presence in more than 80 countries. It owns several, billion dollar consumer brands.

Brief history
William Procter and James Gamble were managing two different companies that required similar resources. This led to intense rivalry between them and eventually it was their father-in-law, Alexander Norris, who intervened and asked to them to enter into a business partnership. That is how Procter & Gamble was formed.

Products and services
Procter & Gamble offers several personal beauty, health and wellness, house and home, and baby and family products. Nutrition and pet care is another area in which this firm specializes. Right from cosmetics and deodorants to prescription drugs and dog food, Procter & Gamble has something to offer to everyone. Popular billion dollar brands associated with this firm include Always, Ariel, Crest, Duracell, Gillette, Ivory, Oral-B, Pampers, Pantene, Vicks, and Whisper.

Financials
In 2007, Procter & Gamble sales were worth about $85.33 billion. Profits made by this firm were worth nearly $12.344 billion. In 2007, Procter & Gamble owned assets worth about $140,679. Procter & Gamble provides employment to about 138,000 people.

Awards and recognition
In 2008, Fortune Magazine identified Procter & Gamble as #5 most admired global company. Fortune Magazine also recognized this consumer goods firm to be America’s 8th most admired company. Procter & Gamble has also won numerous awards and recognition for categories like diversity, marketing, advertising, and sustainability. Many of its top executives like Susan Arnold and Filippo Passerini have won international awards for their excellence in work.

Current financial crisis
In early October 2008, Procter & Gamble CEO had urged US Congress to develop a proposal to counter global financial crisis. He claimed that though Procter & Gamble was yet to be affected by this financial crisis, company’s suppliers were finding it difficult to obtain loans and entry to financial markets.

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