Soaps, creams and strips: Procter & Gamble’s approach to Innovation

• Main Author: Knowledge@SMU
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2009
• Subjects: Business; Entrepreneurial and Small Business Operations; Technology and Innovation
• Online Access: https://ink.library.smu.edu.sg/ksmu/174; https://ink.library.smu.edu.sg/cgi/viewcontent.cgi?article=1173&context=ksmu
• Institution: Singapore Management University

Innovate to give the customers what they desire -- it may sound like a simple and straightforward mantra for success in business, but many companies find themselves struggling to be gainfully innovative! Throw in ‘fickle-minded consumers’ and ‘a myriad of competitor offerings’ into the mix and the challenge magnifies glaringly. Yet, Procter and Gamble (P&G), a 172-year-old company, has somehow managed to get it right – and with more than 300 brands across 80 countries. Dr Shekhar Mitra, P&G’s Senior Vice-President of Research and Development, offers Singapore Management University an insider look into the innovation principles that guide one of the world’s most admired companies.