Proctor and Gamble 2008 Annual Report Download - page 18
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IN INNOVATION
INVEST NG
80
90
00
5%CompoundAverageGrowthRate
80
90
00
8%CompoundAverageGrowthRate
Maintaining consistent investment
in innovation and marketing requires
a relentless focus on productivity
improvements and cost savings.
&
Innovation, productivity and
growth is a virtuous cycle at P&G.
In our industry, innovation and
productivity are the key drivers of
protable organic sales growth.
Innovation creates superior
consumer value, differentiates
brands, and prevents the
commoditization of categories.
Productivity fuels investment in
innovation and brand-building,
acting as an engine of both top-
and bottom-line growth.
P&G’s organizational productivity
has increased both signicantly
and consistently over the years.
Since 1980, it has jumped more
than threefold, growing at a
compound average rate of nearly
5% a year — more than twice the
broad-based U.S. productivity rate.
Net earnings per employee are up
more than eight-fold, growing at
an average of nearly 8% per year.
&
We are constantly improving productivity in all
areas of the business and all elements of cost.
Raw & Packaging Materials
Manufacturing Expenses
Finished Product Logistics
&
Marketing
Sales
Research
Administration