Proctor & Gamble (P&G) is set to turn 180 years old and they have managed to stay continually relevant throughout their history.  Playing the long game, taking strategic risks, and making continual investments in research and development have enabled P&G to create products that meet the need of their current and future customers.

In this article in The Drum, Shawn Lim describes what makes P&Q special and where they are headed for the future:

For starters, innovation at its core should be focused on delivering the mission of improving the lives of the consumers that brands serve in their categories across the world, says Olga Lahuerta, head of innovation and consumer insights at P&G.

Lahuerta, who was speaking to The Drum on the sidelines of the 2017 ACI Asia Business Summit, adds that innovation at its best for P&G means that the company has defined the needs that often are not articulated and translated them into product experience that are so irresistible, that consumers are willing to pay for them and come back again.

Additionally:

Another important aspect of P&G’s innovation practice is that one of its motto is that ‘innovation is everyone’s job’. Returning to her point about recruitment, Lahuerta explains that P&G wants to make sure that new hires can contribute from their early days in the company. “We recruit world class talents that comes with a lot of knowledge in their disciplines in their universities and they also come with a fresh outlook on things.”

Aside from recruitment, she emphasizes the need for companies to ensure in the way they operate, that they welcome, embrace and encourage a new way of thinking, and challenge the way the it has done things in the past. Senior management is key to this process, she adds.

Here’s further insight from P&G’s CEO: