The Proctor and Gamble organization has been growing at a fast rate in the recent days geared by the changing game innovation. These have been due to the converting of ideas into new offering which alters the performance of the business. Expansion and acquisition of the company into new markets have helped in the growth of the enterprise.
The company has adopted innovation strategies whose aim is to focus on the harnessing the consumers to ensure the growth of the firm. The company has studied and identified how and where to market their products and services. Similarly, if individuals tend to select office supplies by particular familiar brands, the companys position focuses on the supply product of a household title through forming commercials and social media pages that lead to the promotion of the outputs. Through the database research, the company has been able to understand the consumers and provide products that improve their everyday life. Creation of consumer research department and the introduction of emails in the 1980s and free calls in 1973 kept the customers.
However, the company has created scalable, repeatable and disciplined innovation processes. Through new methods, ideas and invention company reduces the cost of marketing which in return increase the profit margin in the company generating to their success. Promotion via social media networks such as television and websites has increased the growth of the company at a higher rate. Through social media, marketing the companies has been able to reach many customers through their persuasion many people have engaged in buying the product due to been famous such as Gillette. Innovation has increased the growth sales to an average of 6%.this was through changing the organizational structures.
The owner has been the manager of the business takes all the big decisions that transform the company into multidivisional structure making the business dominate the market. The company has its growth through the creation of teams. The idea for a new product may be hard for a mind of an individual, but through cooperation as a team, the company has carried the ideas to the point of prototyping and launching of the new products. For innovation to be fully integrated, social interaction is paramount. The company had focused on transferring the change from developed markets to developing markets for instance when new technology occurred from Japan and America spread to other countries such as China and parts of the Africa.
By focusing on employing people with talent components like leadership and brains. Although people have struggled with such new approaches, they have at the end done well with such skills. Some practices such as collaboration and connectedness have been easy to talk about but difficult to develop. Similarly, the company has tried to identify people who do not want to open up, share and learn from others hence guiding them which has led to great collaboration with other workers. The company increases the complexity of some assignments to enable the employees thus allowing them to learn new stimulation and improve their experience.
The companies have created funding and organizational mechanisms that support innovation. Through principled leadership and supportive employees, the companies have cooperated in establishing a common goal and specific objectives that have geared in the success of the companies. However, the mistakes the business has done have been their strength into venturing in success.
Bibliography
"Promote Innovative Financing Mechanisms". 2017. Ghtcoalition.Org. http://www.ghtcoalition.org/solutions-items/promote-innovative-financing-mechanisms.\Lafley, A.G. 2008. "P&GS Innovation Culture". Strategy+Business. http://www.strategy-business.com/article/08304?gko=b5105.
"The Strategy Is Simple | P&G News | Events, Multimedia, Public Relations". 2017. News.Pg.Com. http://news.pg.com/blog/company-strategy/strategy-simple%E2%80%A6.
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