What Is Proctor & Gamble's Business Strategy?

What is Proctor & Gamble's business strategy? What is the relationship of collaboration and innovation to that business strategy?

P&G's strategy consists of maintaining the popularity of its existing brands and developing new products by extending existing brands and by creating new brands from scratch via innovation. Innovation is at the core of P&G's strategy and collaboration is a critical tool to attaining this innovation. In order to constantly come up with new lines of products, P&G must incorporate innovation in every aspect of its business. All objectives and business processes must be aligned in a way to foster and generate innovation. And the most critical tool in attaining such alignments is collaboration. P&G is one of the top 10 largest companies in the world, operating in over 80 countries; it is therefore imperative, in order to attain successful innovation, to develop a cooperative and collaborative environment so as to encourage sharing of ideas and resources and avoid duplication of efforts. Collaboration creates a platform for faster and more efficient brainstorming across locations, and faster generation and sharing of ideas and feedback; this in turn leads to savings in Research and Development costs. Collaboration helps maximize efficiency, encourage communication across locations and ultimately foster innovation.

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