Proctor and Gamble Business Plan

Subject: Entrepreneurship Company name: Proctor & Gamble Team name: TBA Sources: http://finance. yahoo. com/q/pr? s=PG, http://subscriber. hoovers. com/H/company360/history. html? companyId=11211000000000, www. pg. com, http://blog. marketingdoctor. tv/2008/06/06/dr-tantillos-30second-how-to. aspx Weekly stock prices: 2/4 Mon 75. 26 2/5 Tue 75. 70 1 – Who founded your company? Where? When? Why did the person start the company? What was the original product?What are the products or services your company offers today? William Procter, a candle maker, and James Gamble, a soap maker, founded the company called The Procter & Gamble Company, also known as P&G, on October 31, 1837. They merged their own small businesses and initially settled in Cincinnati, Ohio, USA. Alexander Norris, their father- in- law, persuaded them to be a business partner to each other. Therefore, they created the company and during the American Civil War, they provided the Union Army with soaps and candles. In 1880s, they marketed a new soap, called Ivory, and since then, they have extended their businesses. Today they operate in 6 sections: Beauty, Grooming, Health Care, Fabric Care and Home Care, Snacks & Pet Care segment and Baby Care and Family Care. They have Head & Shoulders, Olay, Pantene, SK-II, Wella, Braun, Fusion, Gillette, Mach3, Ace, Febreze and Downy brand names and so on. 2- What was the original form of ownership? Sole Proprietorship, Partnership, or Corporation?Has the company changed its form of ownership over the years? Why did it change? It was originally a company based on partnership. However, William Arnett Procter, William Procter's grandson introduced the profit sharing program in 1887 by giving workers shares in the company to prevent strike. 3 – Was the founder of your company an Entrepreneur? Justify your answer. The founders of P;G are deserved to be defined as Entrepreneurs. Entrepreneur itself eans that someone who is adventurous businessman strugg ling to make business more profitable, creates new things and likes to challenge. These aspects are also shown in William Procter and James Gamble. They were not satisfied with their position, instead expanded their businesses, took over other companies running a risk and prospered through the technology switchover. 4 – When your company was founded was it local, regional, national, international, or multinational?What is your company today? Justify your answer It was totally local. At first it just provided the North Army with soaps and candles, but after the American Civil War, they got fame from soldiers all over the world and established another corporation in New Castle, England in 1930. Since then, it has enlarged their field of business all around the world and nowadays it has been regarded as multinational company because of their marketing strategies and the background of faculties.