April 15, 2006

Procter & Gamble on bigness

P&G's latest annual report is full of optimistic references to "growth strategies" and "organic growth." But in a recent Economist interview its CEO, Alan Lafley, laments:

"It is so hard to grow. And the bigger you get, the harder it is."

Lafley's right. His company, still in the midst of digesting Gillette, its latest acquisition, maybe a prime candidate for rethinking what growth means. Expansion alone tends to be self-defeating.


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