Proctor and Gamble Essay

288 WordsAug 14, 20122 Pages
Planning is used by Proctor and Gamble for financial control. Proctor and Gamble has a large responsibility to both its share holders and its employees. In order to keep the trust and loyalty of this group Proctor and Gamble tracks spending over past years and uses that information to project present and future spending. This data is used to insure that the company stays as successful as it is today. The budgetary control done by Proctor and Gamble must be very organized so that they can successfully pass the annual audits that they are required to perform. An audit assesses where every cent made comes from and where every cent spent is going. According to Proctor and Gambles annual report “An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.” (Deloitte, 2012.) Market control must incorporate planning, organizing, leading, and controlling. In a company such as Proctor and Gamble market control is an all encompassing factor in the success of the company as a whole. The company must plan to launch a new product, to cease production of an existing product or change the focus of existing production almost immediately based on market changes, rise or fall in prices of ingredients or various other variables that cannot be controlled. In order to do this the company must be organized to be efficient during a quick shift in production. The company must also have leaders that can lead employees while controlling the production shift. Deloitte. "P&G." 2011 AR: Independent Accounting, Managements Report, Deloitte. Proctor & Gamble, 2012. Web. 09 July 2012.

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