A recent article in Businessweek suggests that P&G’s ability to come up with blockbuster new products has actually declined over time. Ironically, the article attributes this to the weakening of the core R&D function within P&G, and a business focus on short-term results (which usually drives incremental rather than breakthrough innovation).

Other reports suggest that P&G’s challenge to growth is not only on the innovation front, but speeding up decision-making and action on all fronts. As often happens to large companies, P&G has created multiple layers of management that stand in the way of the company moving fast enough to contend with more agile competitors.

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