The paper “ Risk Management Manual for Creation of New Products” is an impressive example of the term paper on management. Manufacturing industries are currently facing different forms of risks in their operations. They are faced with financial risks, market risks, and economical risks. Multinational companies are currently facing a great threat due to market volatility and global market uncertainties. Procter and gamble company has had advanced ways of dealing with market uncertainties’ like starting production units in different countries as opposed to distributing from one single unit. For new product development, it is necessary for the company to identify, assess.
Evaluate and mitigate potential risks to have effective success in their product development. The paper addresses risk management and the mitigation measures required in eliminating the potential risks possible, associated with new product creation especially in Procter and Gamble Company. It will analyze how the company will identify potential risks associated with its new venture through the risk management process and assessing and analyzing the risk potential using the risk assessment techniques. IntroductionProcter and Gamble is an American multinational company that manufactures a broad range of consumer products.
The company has been in existence since 1837. It is a multinational company operating globally with more than 30 product brands. The company has a customer base of over 5000million customers in over 140 countries. In 2011 it recorded a sale of 82.6billion Dollars making the company rank position five on the most admirable companies in the world. P& G has it’ s headquartered in the united states of America at Cincinnati with marketing and sales channels in Australia, China, Europe, Africa, Asia, northern America, India, and Latin America. The company has been striving fully in achieving the customers’ needs globally by establishing proper communication in administering their needs.
The company works by the philosophy of thinking globally and working locally. The company has recently been striving in achieving the brand equities, innovating in new products as well as using strategic techniques in achieving its goal of being a global leader.
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