Word: p
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Dates: during 2000-2009
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Innovation demands failure. How does P&G manage that? The key in the [innovation] process is that it's consistent, it's repeatable, and it's predictable. Innovation is a failure and risk-management game. If you're running a good innovation strategy and process, you have way more failures than successes. So what you want to do is fail early and fail fast and fail cheap...
Procter & Gamble is a place you'd look for wash-day miracles, not management revolutionaries. Yet A.G. Lafley, CEO since 2000, proved otherwise. He drove relentless change at the famous but once flailing company. In The Game-Changer, written with management guru Ram Charan, Lafley explains how P&G flourished by organizing around customer-driven innovation. He talked with TIME's Bill Saporito...
...business at P&G? We try to grow our organic sales, which means--not including any acquisition, not including any currency, all of that--4% to 6% a year in markets that grow a couple of percent a year. So we're obviously trying to build our share. We try to grow our earnings per share by double digits. We have very comfortably been doing that this year. And we think we'll finish the year and deliver that...
...revolutionary in a company with an enormous heritage. A lot of CEOs get killed this way. How do you avoid the counterrevolution? I worked hard on reassuring the culture--the P&G people and the P&G community broadly and the leadership--that I was preserving the core of the company, but we had to change everything else if we were going to achieve our aspirations. And then I said, "We're going to change the strategy. We're going to be an innovation-driven strategy...
...family, the Pope arrived in D.C. on Tuesday afternoon. Some Catholics on campus say they hope the Pope’s visit will heal troubles facing the Catholic Church today. “I am absolutely thrilled that the Pope is coming here,” said Matthew P. Cavedon ’11, a Harvard Catholic Students Association (CSA) board member. “The Church in America has suffered a great deal lately, largely because of its shortcomings in keeping true to God’s will, and a lot of us have high hopes that the Pope...