Proctor & Gamble is a fortune 500 company. William Procter, a candlemaker, founded the company and James Gamble a soap maker, formed the company known as Procter & Gamble (P & G) in 1837. The two men emigrated from England and Ireland and settled early in Cincinnati. They might never have met had they not married sisters: Olivia and Elisabeth Norris. (Britannica Encyclopedia, 2007) The business decision was made by their father-in-law to make the two men business partners. The company prospered during the 19th century. In 1859 sales reached one million dollars. By this point, approximately eighty employees worked for Proctor & Gamble. During the Civil War the company won contracts to supply the Army with soap and candles. (www.pg.com) The products of the company were in such demand that it increased the profit of Proctor & Gamble.
In the 1880s, Proctor & Gamble began to market a new product, an inexpensive soap that floats in water. The company called the soap Ivory. Ivory is the only soap that floats in water. The Ivory soap was made by
References: Bhatnager, P. (March 18, 2003). P&G has a good hair day. Retrieved June 9, 2008 from, http://cnnmoney.printthis.clickability.com Capasso, A and Meglio,R(2007) Doz, Y. L., and Hamel, G. (1998). “Alliance advantage: The art of creating value through partnering”, Harvard Business School Press, Boston, MA. Internal Revenue Service, (nd) retrieved electronically on June 10, 2008 from www.irs.gov Procter & Gamble Procter & Gamble. (2004-2005; 2007). P&G Annual Report. www.pg.com/investors/. Retrieved June 7, 2008. Rizvi, Yasmeen (2008) Picking the flowers; Acquisition strategy as a tool for survival and growth. Washington Post.com, (nd) The Pros and Cons of Partnerships retrieved electronically on June 11, 2008.