Future of Procter and Gamble's Research Paper
- Length: 6 pages
- Sources: 6
- Subject: Business
- Type: Research Paper
- Paper: #15777339
Excerpt from Research Paper :
P&G also is leading the industry in patents specifically designed to increase the biodegradable nature of their products, more efficient production processes that generate less waste, and the continual improvement of sustainable business practice and process analysis (Keyes, Sykes, 43, 44). Using a portfolio-based approach to managing the specific aspects of their sustainability strategies, P&G has created a portfolio modeling framework used for evaluating the time to value or advantage of a given initiative by the integrated long-term benefit. Figure 2, P&G Portfolio-based Sustainable Business Practice Analysis shows the framework used for this analysis.
Figure 2: P&G Portfolio-based Sustainable Business Practice Analysis
Based on an analysis on the following sources: (P&G Annual Reports; filings with the SEC; 2006 -- 2012) (Keyes, Sykes, et.al); (Damian, 54) (Cullen, Victor, Stephens, 50) (Riccaboni, Leone, et.al.) and from the Gartner Report Achieving Competitive Advantage Through the Pursuit of Sustainable Business. (December, 2012) Stephen Stokes, Simon Mingay. Stamford, CT.
P&G has successfully created the most iconic brands global customers trust to keep themselves and their families clean, happy and healthy. This strong foundation of trust coupled with the innate strengths the company ahs in innovation need to now be used to underscore the exceptional customer experiences the company is capable of delivering. The extensive investments in sustainability and the commendable long-range objective's of saving a life a minute by 2020 need to also be brought forward in stories of how P&G is energizing entire villages and cities in third world nations, bettering the lives of those who would otherwise be trapped in poverty with little hope of improvement. P&G needs to look to its marketing prowess to tell compelling, positive stories of how it is transforming lives across the globe. it's heartfelt tribute to Olympian's mothers shows just how strong P&G is at creating compelling marketing messages.
The ability of P&G to honor and strengthen the trust customers have in them, continually streamline its supply chain and manage its supplier network and production processes to sustainability standards, and make the 3BL framework part of the culture of the company will make their ambitious sustainability objective's achievable. If P&G can integrate these three diverse areas of their business, they will have attained Stage 5 of corporate citizenship, which is transformative performance. The transformation that needs to occur within P&G is the aligning of every process, system and task to their broader sustainability priorities and value as defined through the iterative use of the P&G Portfolio-based Sustainable Business Practice Analysis. Using the P&G Strategic Framework for Value Delivery as a framework for managing the structure of the company is also essential.
In conclusion, the recommendations for P&G to attain a transformative level of performance include holding their global supply chain to a higher level of CSR compliance and performance using the 3BL framework (Riccaboni, Leone, 130). This will drive up product quality and reduce costs of inefficient production. Second, the company needs to challenge its internal marketing teams to create compelling stories showing how P&G's extensive investments in sustainability are changing lives for the better worldwide. There must be thousands of lives being changed by their investments in CSR and sustainability initiatives today. Having these stories with the nuance and emotion of the Olympic mothers' video will do much to further show how P&G is galvanized around the goal of making the world a better place. With all of these accomplishments, P&G will have also become a transformative enterprise.
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