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Compose a 750 words essay on International business global business. Needs to be plagiarism free!tarted as a small soap and candle company started by William Proctor and James Gamble in the year 1837
Compose a 750 words essay on International business global business. Needs to be plagiarism free!
tarted as a small soap and candle company started by William Proctor and James Gamble in the year 1837 in Cincinnati United States now has 138,000 employees working in over 80 countries worldwide. The company’s products and services are available to consumers over 180 countries. The company maintains one of the strongest and largest portfolios of trusted brands.
The company markets nearly 300 well known brands in consumer goods and more than 50 percent of its revenues are derived from foreign countries. Being the market leader in the FMCG market P&G has proved to be one of the aggressive marketers and largest advertiser in the world. Extensive market research and the novel brand-management system are the unique strengths of the company (Proctor & Gamble).
The success of P&G largely depended on its business technique called ‘brand management’ which implied that the company will focus its attention on a product rather than on a business function. The technique involves a decentralized decision making. The company began its global expansion during early 1990’s when the top management felt the need for streamlining the brand management system. For carrying out a planned expansion the company established a ‘Global Strategic Planning Group’ consisting of 3-20 individuals for each of the product categories. This group was made responsible for developing policies covering global and local brands. The group was also empowered to make decisions concerning ‘brand strategy’ which needs to be standardized across the world markets. It also involved customizing the products according to local markets and the customer requirements.
While developing the branding strategies was made the responsibility of the Global Strategic Planning Group the implementation of the strategies was entrusted to the ‘Global Category Team’. The Global Category Team is headed by an executive vice president who handles each of the product categories. The implementation of the
