Procter & Gamble : Business Growth Of Unprecedented Magnitude
For the past four weeks, we have learned about the various levelers that enable a flat world, how the free market economy, in conjunction with these levers, has supported business growth of unprecedented magnitude. We studied the responsibility of business to be profitable as well as to be socially, ethically and environmentally aware; and lastly we learned about the influence and opportunity presented by technology. The one business that best amplifies these four areas would be Procter & Gamble Company.
Found under Procter and Gamble’s website, corporate history, it states “Procter & Gamble was started by brothers-in-law William Procter and James Gamble, a candlemaker and a soapmaker, respectively, in 1837 in Cincinnati. Two decades later, the company would reach $1 million in sales. In the years after, P&G would go on to invent and produce some of the most common products in American homes. The consumer goods behemoth also serves as an example on how to get the word out about the things it sells. The Fortune 500 company was the first to advertise nationally. In 2007, it spent more on advertising in the United States than any other company.”
Found on the company’s website it states, “The company began by selling soap and candles, but after the invention of Edison 's electric light bulb in 1850, candle sales were so slow that they stopped production. Things looked up, however, because the U.S. Government began to order loads of soap…