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PREFACE AND AC KNOWLEDGMENTS
THIS BOOK charts the rising tide of Procter Gamble's fortunes from its beginning in Cincinnati, Ohio, 165 years ago to its present-day global leadership in branded consumer goods.
We have a dual purpose in telling this story. First, we seek to describe and explain PG's evolution, which, some older books notwithstanding, has never received the attention it deserves. The company is one of the biggest and most influential in its industry worldwide, and its impact is felt broadly in modern consumer society and culture. Understanding where and how PG became what it is today, helps to explain the development of the global consumer economy that shapes the way the vast majority of the Earth's peoples now live.
Our second purpose is to explain the company's success in its core business of building consumer brands. We accomplish this (we hope) by exploring key events and episodes that stimulated PG's learning about brand building. In these moments of particular challenge and change—bringing new brands to market, penetrating new geographies, developing new capabilities and better ways to manage, and reviving flagging brands—the company learned how to build and sustain successful brands. By highlighting these moments and the lessons drew from them, we hope to increase understanding of brand building as a management capability and a source of strategic strength.
The chronological narrative of P&G's history is broken into four parts and is tilted forward in time, focusing more on recent decades than on the company's earlier years. Part 1 describes the company's first one hundred years, from its founding in Cincinnati in 1837 through the development of its
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