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Business enviroment - Essay Example The small scale level or the assignment condition comprise of the serious powers and the ecological v...

Monday, January 27, 2020

Music In Advertising And The Media Media Essay

Music In Advertising And The Media Media Essay Music is all around us. It is a constant in our lives. Although the music that we hear changes over time it is always there. What is in today may be out tomorrow. We hear it in the car in the way to work, and once we get there it is playing in the background in the office. It is at the stores where we shop, in the elevators we ride, during the commercial breaks of our favorite television programs, at the gym where we exercise, and many more places we go. With the astronomical amount of music that surrounds us in our everyday lives is no wonder that companies use it as a median to advertise their services and products to us. Advertising is the means by which on party attempts to convince or entice another into purchasing a particular product or service. It differs from the sort of one-on-one sales pitch an individual might encounter at the point of sale in that it addresses a larger, more general audience (Huron). Advertising is instrumental to the success of businesses. If no one kno ws that the business exists or they have no idea what products or services are offered, how will they get customers? The key to business is to advertise, to make sure that a companys products or services are known to the world. People love music. Combining the two is sheer genius. Music can accomplish many things when integrated with advertisements. In advertising it is used to entertain, as a mnemonic device to trigger memory, and to target a specific demographic. When music is used in advertising for entertainment purposes it makes the advertisement more appealing to its targeted audience. A good advertisement gets and holds the attention of the audience. It is simply used for aesthetic purposes. Creating an attractive advertisement allows it to appeal more to an audience thus engaging the audiences attention. Music is also used in advertising as a technique to aid in memory. Early advertising embraced this technique. Rhyme and repetition were used to keep a brand or name of a product in mind. There are several reasons that consumers purchase certain goods or services. According to an article in The Economic Times one of the major factors in consumer purchasing is the fact that the human brain releases the chemical dopamine in response to the product. Usually sound or fragrance are the stimuli that cause this effect. The reason this happens is that the human mind is complex and Because consciously or not, we calculate purchases based on how they might bring us social status-and status is linked with reproductive success (Dobhal). There are several different options for advertisers to choose from to promote their product or service. There is print, radio, and television to name a few. The following is a brief history of advertisements from print to television: Early print advertisements appeared in the newspaper and as posters with pictures and text in popular locations. This form of advertisement is still in use today and is also successful and is found everywhere from newspapers, magazines, to popular trade journals. Billboards are another form of print advertising, they a rather large signs that are located in a conspicuous location that people will notice (Phillips). Radio advertising is one of the earliest forms of advertisement is mass media. The first speech transmission by radio was in 1915 from New York to San Francisco, five years after this historic day, the first radio program aired. A revolution had begun. With thousands of Americans tuning in to hear the radio programs, this is where advertisers hit the jackpot. Television advertisements soon followed. Since the television has such a broad reach, from the beginning it became an attractive medium for advertisers. U.S. advertising rates are determined by Nielsen ratings which are audience measurement systems that were developed by the Nielsen Research Company. The time of day and popularity of the channel are factored in to determine the advertising rates. The television become commercially available in the 1930s but did not gain popularity until the 1950s. Today 99 percent of households in the United States have at least one TV and 66 percent have three or more. The average American watches one thousand five hundred hours of TV per year (Television and Health). In the early 1980s the interest in using music to advertise dramatically increased. Following a study dubbed the attitude towards the ad which showed that consumers responded negatively towards the manipulative and pressured approach that advertisers were using. The study concluded that consumers were left with a more positive feeling towards the product music was introduced into the advertisements. The study also proved that when pairing popular music with the product consumers would associate the two and if they like the music they would like the product. (Chingning Wang)This approach has been criticized however it the lyrics are catchy and remain in your head the advertiser has effectively accomplished their task. Advertisers originally wrote their own catchy tunes to market a product. These are known as jingles. There are many jingles for products that you may still remember to this day although you havent heard them in years. One such jingle is for Oscar Mayer, and goes like thi s My bologna has a first name. Its O-S-C-A-R. My bologna has a second name. Its Mayer. Oh, I love to eat it every day and if you ask me why Ill say cause Oscar Mayer has a way with B-O-L-O-G-N-A. That is one jingle that most likely has been heard by nearly all Americans. Prior to the 1980s these are the kinds of music that one would here in a commercial occasionally the lyrics of a popular song would be changed to create a theme song for a particular product or service. On one occasion a theme song that was written for coca-cola called Id Like to Buy the World a Coke was re-recorded by the New Seekers as a pop song called Id Like to Teach the World to Sing (The Hilltop Ad: The Story of a Commercial). This song became a hit. The use of previously recorded pop songs was eventually integrated into commercials. In 1985 Burger King used an original song by Aretha Franklin called Freeway of Love in an advertisement to promote the fast food restaurant (TV Commercials in the United States). In 1987 Nike adopted the Revolution by The Beatles to advertise their shoes and other athletic gear as well as using as an effort to overhaul their advertising and marketing campaigns to compete with the number one shoe brand at the time which was Reebok (The Pop History Dig). An interesting but unproven theory is subliminal messages. A subliminal message is a hidden message within a commercial, music, or even a movie. These messages are meant to be unnoticed by the listener yet they are meant to provoke the listener to respond in some way. According to an article by Robert Fink in the Journal of Ancient of Ancient Music advertisers have claimed that they can make anyone buy anything by including subliminal messages within their advertisements (Fink). In 1957 James Vicary, a market researcher stirred up trouble with consumers when he announced that by embedding subliminal messages in the music of radio advertisements he could persuade consumers to purchase anything. The public feared that this was true and thought that they were being hypnotized with advertisements (Crossen). One company that probably comes to mind when you think of music and advertising is the popular soft drink Pepsi. The company, PepsiCo has a history of mixing popular music into their advertisements. Some of the many artists Pepsi featured in their advertisements include Michael Jackson, Britney Spears, Akon, Bob Dylan, and many more. PepsiCo is a very successful company. Consumers are bombarded with music and advertisements throughout their typical day. Advertising is a powerful and effective tool, it is meant to inform the listener of the product or service, and then persuade them to purchase it. It is obvious to point out that the better an advertisement is the more effective it will be at persuading the customer to purchase the product. Advertisers employ many techniques some of which are peer pressure and manipulation. Advertisers target an audience and use these techniques to try to convince the listener that they will be part of the in crowd if they purchase the product. This is a highly effective form of advertisement. Advertisers target a specific demographic such as 18-24 year olds. To use music effectively in this demographic they would obviously use music that most 18-24 years olds would listen to and not something like classic rock although some people in that demographic may enjoy classic rock they are trying to reach the majority. Think about this, can you remember a particular jingle or song and automatically associate it with a product. I am sure that most everyone can. Researchers have shown that the most effective commercials advertisements are the ones that stir up emotion and create an association with the product (Vaughn). Since people are bombarded with so many advertisements every day advertisers are increasingly using unconventional techniques. One such technique involves the use of incongruent advertisements. This is where advertisers mix things up a little. They use music and other art that would normally be unexpected. This works because of something called brand schema which is when a person becomes so familiar with a product from advertisements it becomes almost invisible to them, they dont really pay much attention to it. Advertisers now are trying to mix it up and once again regain their attention to the product that they are selling. This research was conducted to determine the impact of audiovisual congruency in ads and the moderating role of product involvement on three aspects of consumer response: attention to the ad, attention to the brand, and purchase intentions. The participants were shown one of eight TV ads for 30 seconds, afterward they were asked to rate the ads on several dimens ions. The results indicated that congruent product and music type invoked favorable responses from the consumers. (Lalwani). What is it about music that makes it so important in advertisements? First and foremost, it is so much easier to remember a song or jingle than spoken words. Second, it is entertaining. Whether the listener really cares about the product or not they may create a mental association with the song and the product. Imagine this scenario, two friends are talking and one says that they are in need of a cleaning service for their home but are new to the area and have no idea who to choose. The other friend says I just heard an advertisement on the radio for a cleaning service, I dont know their name but they have that catchy song in the advertisement. The friend in search of the service replies with Oh yeah, I heard that too. Ill give them a call. The advertiser has created a successful advertisement and the music or song that they chose was to thank. This is a scenario that occurs quite frequently and advertisers count on this. As you have seen, music is everywhere it is no wonder that advertisers tapped into the music source. Music is a beneficial and constructive addition to our society. It has many purposes and definitely holds its own in advertising. The business of advertising has clearly come a long way in the United States, from only having print advertisements available to the creative and catchy television and radio advertisements. Just think, if you had to watch a commercial without music, you would just be listening to someone talk. There wouldnt be catchy lyrics to aid in your memorization of the product nor would it even be interesting. Advertisers hit big when they integrated music and advertisements. Next time you are watching television or listening to the radio pay attention to how many of the advertisements contain some form of music, whether its a pop song, a creative jingle, or just a little background music.

Saturday, January 18, 2020

Steel and Continuous Improvement

Continuous improvement as a business strategy Introduction The steel manufacturing company Corus focuses on meeting the needs of its worldwide customers and providing innovative solutions. It manufactures, processes and distributes steel and aluminium products worldwide. Corus is a subsidiary of Tata Steel, part of the giant Indian conglomerate. Tata Group includes businesses in many industries – for example, chemicals, automotive, telecommunications, leisure and consumer goods (such as Tetley Tea). Tata Steel acquired Corus in 2007 as part of a strategy of international expansion.Steel is everywhere in our homes and all around us. Corus Construction & Industrial (CCI), a business unit of Corus, has steel manufacturing facilities in Scunthorpe, Teesside, Scotland and France. The key markets for CCI include construction, energy and renewables, engineering and machinery, mining and earthmoving equipment, shipbuilding, fastenings and rail. The principle manufacturing site at Scun thorpe covers 2,000 acres and employs 5,500 people. The site consumes 6. 5 million tonnes of iron ore and 2 million tonnes of coal each year to produce 4. 3 million tonnes of steel products.CCI products go into a range of leading edge developments: Rail Steel Sections Main supplier to Network Rail, SNCF (French railways) and Metronet (London Underground) Wide ranging construction projects – e. g. warehousing, shopping centres, hospitals, tower blocks (Canary Wharf), bridge components, stadia, machinery (bulldozer track shoes, fork lift trucks) Everything from paperclips to bolts, to bed springs, bridge wire (for suspension bridges), tyre cord (to strengthen vehicles tyres) Ships, construction and mining machinery, wind towers, oil rigs, bridges, (e. g. the Humber Bridge), major construction projects, tanks and pressure vessels.Steel plate is also used in harnessing renewable energy such as in wind turbine towers. CURRICULUM TOPICS †¢ Continuous improvement †¢ Empowe rment †¢ Target setting †¢ Changing culture GLOSSARY Subsidiary: an organisation that is part of a larger company. Sections: H or I cross-section steel beams and columns in various lengths and thicknesses. Rods: long lengths of generally round (typically 5-15mm diameter) cross-section steel supplied in coils. Plates: large area flat steel. A typical ordered size is 10m long x 2. 5m wider. Thicknesses range from 6mm to 80mm. Plant: buildings or machines used in industry.Differentiate: to distinguish a business from its competitors. Steel Rods Steel Plates Modern steel production is a large scale operation dealing in huge quantities of materials and products. The process of steel plate production has several stages: †¢ receipt of pre-cut steel slabs from the steel plant †¢ reheating of slabs †¢ rolling to achieve required dimension and mechanical properties †¢ initial inspection for surface or quality defects †¢ cutting to order size †¢ marking with unique identities †¢ cold levelling to agreed flatness standard †¢ final inspection †¢ loading and despatch to customer.Producing large volumes helps to drive down the costs of running huge and expensive steel plant. Overall, this results in steel being a relatively inexpensive product, typically around 50 pence per kilogram, about the same as a kilogram of potatoes. In a major building project, such as a shopping complex, the cost of the steel can be as little as 5% of the overall cost of the project. Because of these issues, CCI needs to differentiate its business from its competitors in order to continue to grow. 57 CORUS www. thetimes100. co. ukGLOSSARY Greenfield site: land not yet built on or buildings on land that has not been used for building before. Continuous Improvement (CI): continuous incremental improvements in manufacturing and other processes. Inventory: a stockpile of goods. Lean production: an approach to production that looks to minimise waste and inefficiency. Scheduling: planning activities showing the times or dates when they are intended to happen. Takt time: the maximum time allowed to produce a product to meet demand. Taken from German ‘taktzeit’ – ‘clock cycle’.Culture: the typical pattern of doing things in an organisation. Facilitate: make possible or easier. Engagement: people being committed and involved with ideas or activities. CCI’s business strategy is to produce quality steel to satisfy customer requirements, focusing on delivering products at the right time in order to secure profitable business. A key challenge is to meet the increasing demands for more steel, at increasing levels of quality and to comply with more demanding delivery requirements. It would be straightforward to meet these challenges using brand-new facilities.However, a new ‘greenfield site’ steel mill could cost more than ? 300 million to build. CCI therefore needs to make process ef ficiencies and quality and delivery improvements with its existing manufacturing plant. This presents challenges when older facilities are not well structured to use modern manufacturing techniques and processes. This case study focuses on the process of Continuous Improvement (CI) at the CCI steel plate manufacturing mill at Scunthorpe. It will show how Corus is finding new ways of achieving its objectives from existing resources.Continuous Improvement Continuous Improvement is often referred to by the Japanese word ‘Kaizen’. Kaizen means ‘change for the better’ and covers all processes in an organisation. These include engineering, IT, financial, commercial and customer service processes, as well as manufacturing. CI involves making continual small improvements to a process rather than big changes at irregular intervals. This requires close monitoring and control, changes to the uses of manpower, machinery, methods, materials and money to improve business efficiency.Continuous Improvement starts with management and under their leadership works down through the organisation. The underlying theme is that everyone is responsible and has a part to play in making improvements. All employees must work together to identify the steps needed to improve working practices. Planning meetings help teams to focus on satisfying customer needs. Visual management techniques, such as flow charts and wall charts make clear what resources are necessary and who is responsible for each part in the process. Everyone has the opportunity to eliminate waste.This is any activity or process that does not add value. A key question to define waste is ‘would a customer pay for that process? ’ There are seven main areas of waste for any business: †¢ transportation – moving materials or products about †¢ inventory – keeping too much or the wrong stock †¢ motion – people moving or travelling excessively †¢ waitin g times – allowing products to wait for processing †¢ overproduction – making too much †¢ over processing – doing too many processes during manufacture †¢ defects – errors or flaws in the product causing rework or needing to be scrapped.Production processes that minimise waste are referred to as ‘lean production’. In these processes, the aim is to use less of everything, for example, space, materials or time. CCI in Scunthorpe is looking to reduce waste in its plate manufacturing process. It has adopted the concept of ‘flow’. This means that the products are ‘pulled’ through the process according to customer demand. All parts of the production process, from the supply of raw steel (slab) to the finished steel plate, are carefully planned.Scheduling for each element of the process ensures that bottlenecks are kept to a minimum. Each process is paced (known as ‘takt’ time) to control the amo unt of product in each stage of the process. This ensures that processes operate smoothly without overload or delay and keep the desired output and quality. Tonnage was the traditional key measure of productivity for CCI. For employees to work to a smooth paced process needed a significant culture change. Implementing a Continuous Improvement culture CI needs team work. In Scunthorpe, a CI manager coordinates the process. 0 CI Coaches chosen from the workforce received training to facilitate improvements. CCI has put together a ‘toolbox’ of techniques which the coaches use with managers, employees and operators. These help everyone understand where and how they can improve their work. A CI culture means that everyone can put forward ideas and have a say in how processes can change for the better. This is known as engagement. 58 An organisation needs to know where it is going in order to be able to put in place the resources it needs to achieve its plans.This is set out in a vision. Scunthorpe plate mill has set out a 5-year vision improvement plan which will help in the process of developing a CI culture for the business. Everyone in the organisation has to understand and actively support the plan. Workshops for all employees have taken place to explain the vision and why the change is necessary if CCI is to remain competitive. www. thetimes100. co. uk GLOSSARY Vision: a concise summary in words, setting out what an organisation is striving to achieve. Stock rotation: keeping goods moving in order.Feedstock: material supplied into the start of the process, eg steel slab prepared for subsequent rolling to steel plate. Empowered: authorised to take decisions. Helped by the CI Coaches, workers have drawn maps of their processes. These show the links between the stages of manufacturing as well what information flow is needed. The maps show: †¢ details of tonnages †¢ number of products †¢ rework cycles †¢ inspection points †¢ s tocks †¢ delays †¢ costs. The first part of this process is a ‘current state value stream map’. This shows what the systems and processes are like now.The next stage considers what the ‘future state map’ would look like. This highlights what CCI needs to do to achieve this state, for example, investing in new processes, equipment or additional staffing. Scunthorpe plate mill has 16 system maps. These link to each other to give an overview of the whole process. For each of the 16 systems, a number of rules about stock levels and stock rotation have been set up: †¢ Stock rotation ensures that the plates for one customer do not become buried beneath others and therefore delayed. The required amount of slab steel (‘feedstock’) must be in front of the mill by the Tuesday of the week in which the material is to be rolled. †¢ By rolling plates in the planned week, the mill is properly paced and all ‘downstream’ process es (such as cutting, levelling and inspection) can be scheduled accordingly. Using the value stream maps has helped CCI to improve process flows and the working environment. It has also reduced unnecessary motion, transport and processing.By taking these small steps and involving everyone in the vision, the delivery of product has increased from 70% of plates on time to 92% on time. Target setting CI working requires everyone to think differently about the way they work. It was recognised that people might be resistant and cling on to old ways of working. The key was getting all workers to see change as their responsibility. The CI coaches support the teams and individuals and promote or ‘champion’ new ways of working. Over time, the team and individuals are empowered to take responsibility and make decisions for themselves.To help workers accept the changes, the 5-year plan established a timeline for the programme of introducing change. Year Nature of attitudes to chan ge within the organisation Expertise and responsibility for CI 2007 Resistant (workers resist change) 2008 Adaptive (workers begin to adjust to new ideas) Champions and change managers 2009 Accepting (workers start to apply new methods) Manufacturing and process managers 2010 Embracing (workers recognise the benefits of change) Team leaders 2011 Performing (new ideas are fully adopted by the workers) The team CORUS CI coaches 59An important part of the Continuous Improvement programme was the creation of Key Performance Indicators (KPIs). Previously, measures at Corus were largely based on tonnes of steel rolled. This did not show whether it met customers’ needs or whether the steel needed rework because it didn’t meet customer requirements. www. thetimes100. co. uk Corus has set new KPIs which focus on meeting customer deadlines, such as: †¢ a zero backlog of customer orders – this means customers always get their deliveries on time †¢ meeting targets for rolling steel plate in its allotted week.Corus monitors and measures how its operations compare with other producers and competitors in the steel industry. This process of benchmarking means that Corus is continually reviewing its activities to achieve best practice. Corus shares relevant information both within and across Corus to drive improvement. It also spreads appropriate technical knowledge and information across the steel industry through international groups such as the International Iron and Steel Institute.GLOSSARY Key performance indicators: criteria against which the success of an individual or organisation is measured. Benchmarking: using an index, standard or point of reference to measure or judge a quality or value. Best practice: the development of performance standards based upon the most efficient practices within an organisation. Lead time: the time taken from receipt of order details from the customer to receipt of the ordered goods at the customer. The ben efits of Continuous ImprovementThere are significant costs involved in setting up a Continuous Improvement programme, including: †¢ allocating employee time to participate in group work †¢ training coaches †¢ setting up a manual of tools and techniques. However, Corus is already seeing the benefits of CI with: †¢ reduced waste through lean production †¢ improved product quality †¢ reduced rework time †¢ faster response times, giving more customers their orders on time †¢ becoming more competitive by driving down costs †¢ retaining/gaining customers through innovative products and services.KPIs show that the Scunthorpe mill is achieving its targets for rolling steel in planned weeks and is delivering almost 100% of customers’ orders complete and on time. Scunthorpe Plate Mill aims to have all orders complete and on time by March 2009, while at the same time reducing lead time. The principles of team working help to create a more fle xible workforce. This gives Corus the capacity to increase or change production when necessary. In addition, Corus employees are more likely to be satisfied and motivated when they feel that they are making a contribution.They can see their expertise helps to create a more effective company. By empowering its workers, Corus gains a more committed workforce which helps to drive further improvement. The Times Newspaper Limited and  ©MBA Publishing Ltd 2008. Whilst every effort has been made to ensure accuracy of information, neither the publisher nor the client can be held responsible for errors of omission or commission. Conclusion Corus is transforming production at its Scunthorpe plate mill through Continuous Improvement.This way of working encourages all employees to behave as team members to identify and support work improvement opportunities. Increasingly employees at every level are making improvement their responsibility, which provides employee job satisfaction. Continuous Improvement helps Corus to provide quality products and services for customers with on time delivery. CI supports Corus’ aim to achieve satisfied customers and secure repeat sales and longer term orders. It is part of a long term strategy based on service to develop the business.It aims to improve operational demands to fulfil customer expectations and out-perform competitors. Questions 1. What is Continuous Improvement? Who would be involved in this process and what would they be doing to enable improvements? 2. Describe the type of culture Corus is developing. How will the vision plan help to develop this culture? 3. Analyse how achieving its KPIs will help Corus to give its customers satisfaction. 4. Evaluate the key benefits of CI in helping Corus to become a more innovative and customer focused organisation. www. corusgroup. com 60

Friday, January 10, 2020

Rob Dyrdek

Rob Dyrdek is a guy who has had some tough times but has always had a great outlook on life and a great personality! I look up to this guy and wish to someday be like him! Dyrdek is an inspiring person do to his outlook on charities and how much he truly gives! â€Å"Change within a community comes when vision meets hard work and persistence† (Claudine Heizer. ) When he does something he is very determined to get it done, he won't leave business unfinished! Rob Dyrdek is a very charitable man!He enjoys donating to charities and builds skate parks for kids out there who don't have one in their community! What I love the most is that he will go out and give big black trash bags full of stuff he really just doesn't need that includes: Clothes, Shoes, and other pieces of clothing or accessories that he has laying around! Also he will go up to a random homeless person and offer to take him out for food or give him money and I don't mean the average dollar or two I mean about a hund red dollars, more or less, which is really kind!What the homeless person does with it is their problem but the point is Rob isn't afraid to â€Å"throw his money around† as many people view it as! I see it as him being a very giving person! Dyrdek has a positive, care-free outlook on life which is quite inspiring. Rob has the endurance and potential to accomplish victory no matter what triumphs he has to conquer. Dyrdek can really accomplish great things! When he starts something he'll do it until he is finished! He gives to children; he honestly is a great guy!Rob Dyrdek would get bags of his old clothes and he would pack it up in those big black trash bags and go up to some homeless guy and just give it to them! Also he wanted to learn how to fly one of those electric helicopters and saw that there was family owned business and bought all of the helicopters so he would learn! He helps families in need even if it is for immature projects like that family owned business! To o ffer and accept encouragement are significant responsibilities for Rob. He enjoys encouraging others and he is only human he needs people to encourage him!His personality plays a huge role on his life as well as his outlook! He is a sweet, caring guy who likes to encourage and be encouraged! There are some people out there that actually need that extra â€Å"You look great today! † or that â€Å"I love your shirt! † It makes them feel as if people actually pay attention or really do care! The things some people do may astonish you for a while! Especially what Dyrdek does and how he looks at things! I hope there are more people out there who see the world like he does or would take a glance at what he sees through his eyes!

Thursday, January 2, 2020

PG Corporate Social Responsibility - 5660 Words

1. PG company review Procter Gamble Co. is a Fortune 500 American multinational corporation. This company headquartered in USA - Downtown Cincinnati, Ohio. Few numbers indicate this company size, influence to the world and at the same moment to the world’s society. PG holds 22nd position in Fortune 500 companies list by their revenues (which are approximately 79,697.0 million dollars). PG market capitalization is bigger than many countries GDP. Furtermore PG profit is 13,436.0 million dollars, when in comparison number one Fortune 500 company Wallmart has just a â€Å"littleâ€Å" bit bigger profit of 14,335.0 million dollars. This company serves to the customers to more than 180 countries. Even at Baltic states is sold more than 7 millions†¦show more content†¦New markets are the tool to maintain organic growth and to satisfy shareholders. Despite this observation, it looks like PG has big interest in conquering new markets and it stands in Prime stage. PG strongly focuses on innovations Prime stage companies have huge interest on innovations. While Aristocracy companies otherwise – very little. In 2010 years Business week â€Å"Top 50 most innovative companies 2010† list PG took 25th place (what is more in 2009 years it held 12nd place) between Worlds most innovative companies. This achievement clearly shows how much importance in PG business is given to innovations and how successfully this company is managing their innovations system. As PG in their 2010 annual report says – â€Å"Company sees innovations as a heart of company success†. Interesting fact is that in 2000 years PG came from RD model to CD (Connect and Develop) model. That moment PG CEO A.G Lafley saw that PG can’t maintain organic growth of 4 to 6 % it needed. And he thought that most important aspect which can help is innovations. 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