Guided by its slogan of "Touching lives, improving life, "Procter & Gamble (P&G) is know throughout the world for its stable of consumer brand. Organized within two global business units (Beauty & Grooming and Household Care), Crest, CoverGirl, Herbal Essences,Ivory Bold, and Bounce are just a few of the more than 250 branded products the firm's 127,000 employees produce in facilities located in approximately 80 countries. Twenty-four of this firm's branded product lines generate at least $1 billion in annual sales. Estimates are that on average, every person in the world spend $12 P&G relies on its capabilities and core competencies to satisfy current customers and to develop products to serve the needs of new customers. Typically, P&G likes to use its capabilities and competencies to grow organically rather than through mergers and acquisitions or through cooperative relationships. In the words of a previous P&G CEO: "Organic growth is more valuable because it comes from your core competencies. Organic growth exercises your innovation muscle. If you use it, it gets stronger. "Cutting-edge technology, supply chain management skills, marketing and advertising expertise, a broad product portfolio, and research and development skills with respect to fats, oils skin chemistry, surfactants, and emulsifiers are a few of P&G's highly-regarded capabilities. All of these capabilities,which result from combination of the firms' tangible ad intangible resources, allow P&G to perform tasks that must be completed to produce, sell, distribute, and service its branded products.