Procter & Gamble Co.is a Fortune 500 American multinational corporation headquartered in Downtown Cincinnati, Ohio that manufactures a wide range of consumer goods. It is 6th in Fortune’s Most Admired Companies 2010 list.P&G is credited with many business innovations including brand management and the soap opera.Procter & Gamble is a leading member of the U.S. Global Leadership Coalition, a Washington D.C.-based coalition of over 400 major companies and NGOs that advocates for a larger International Affairs Budget, which funds American diplomatic and development efforts abroad.William Procter, a candlemaker, and James Gamble, a soapmaker, immigrants from England and Ireland, respectively, who had settled earlier in Cincinnati, who met as they married sisters, Olivia and Elizabeth Norris, formed the company initially. Alexander Norris, their father-in law, called a meeting in which he persuaded his new sons-in-law to become business partners. On October 31, 1837, as a result of the suggestion, Procter & Gamble was born.In 1858-1859, sales reached $1 million. By this point, approximately 80 employees worked for Procter & Gamble. During the American Civil War, the company won contracts to supply the Union Army with soap and candles. In addition to the increased profits experienced during the war, the military contracts introduced soldiers from all over the country to Procter & Gamble’s products.In the 1880s, Procter & Gamble began to market a new product, an inexpensive soap that floats in water.
The company called the soap Ivory. William Arnett Procter, William Procter’s grandson, began a profit-sharing program for the company’s workforce in 1887. By giving the workers a stake in the company, he correctly assumed that they would be less likely to go on strike.The company began to build factories in other locations in the United States because the demand for products had outgrown the capacity of the Cincinnati facilities. The company’s leaders began to diversify its products as well and, in 1911, began producing Crisco, a shortening made of vegetable oils rather than animal fats. As radio became more popular in the 1920s and 1930s, the company sponsored a number of radio programs. As a result, these shows often became commonly known as “soap operas”.
The company’s leaders began to diversify its products as well and, in 1911, began producing Crisco, a shortening made of vegetable oils rather than animal fats. As radio became more popular in the 1920s and 1930s, the company sponsored a number of radio programs. As a result, these shows often became commonly known as “soap operas”.