Playing to Win

Appendix A

P&G’s Performance

The stories in this book are taken from the years 2000 to 2009. Over those years, P&G sales doubled and profits quadrupled. Earnings per share increased 12 percent per year. P&G’s share price increased by more than 80 percent in a decade that saw the S&P 500 go down overall. Company market capitalization more than doubled, placing P&G among the most valuable companies in the world. The company was able to deliver significantly more value, create competitive advantage, and perform at a consistently high level over the decade.

While these facts capture something about the performance of the company over the decade, they do not directly answer these questions: did the strategic choices deliver winning results? And if ...