Pros
A great place to get exposed to a wide variety of business models and strategies. Great place for people new to work force and early in careers. Employees get to learn how business is done. Relatively flat org structure provides surprising transparency and visibility. ie, analysts are not relegated to cubicles in the basement.... they're given the opportunity to engage in delivering the business.
Cons
P&G's strengths are also its biggest weaknesses. P&G relies so much on standard work processes, systems, vocabulary and management approaches, etc. that everyone assumes these are ubiquitous. When the systems fail or are absent, it presents a disproportionately large and cumbersome challenge. Thus, focus is on doing what we do best vs. driving new, innovative ways of doing business.