Itc Business Strategy
On 24 August 1910, ITC was corporated under the name Imperial Tobacco Company of India Limited. At 1970, when the Company's ownership progressively Indianised, the Company's name was changed from Imperial Tobacco Company of India Limited to India Tobacco Company Limited and in 1974 it turned to I.T.C Limited. In the recognisation of the company there was a wide range of business establishing in the market. The Company emphasis on the Fast Moving Consumer Goods which comprises of the Personal care products, Foods, Cigarettes and Cigars, Branded Apparel, Education and Stationery Products, Incense Sticks and Safety Matches, Paperboards & Specialty Papers, Packaging, Hotels , Agri-Business and Information Technology. ‘ITC’ is today no longer an …show more content…
ITC has also played an important role in laiding foundations for a future ready corporation. ITC diversified portfolio of business which enables it to have a significant presence in all 3 sectors of the economy which is named as agriculture, manufacturing and services. In first sector that is Agriculture, the Company's main objective was deppen the relationship between farmer and productivity and improving the quality of life and transforming the ecosystems of village. ITC has empowered more than 4 million villagers in 40000 villages.
In second sector that is manufacturing sector, ITC has created various manufacturing facilities for its Paperboards, Printing and Packaging businesses. ITC products are exported globally to 90 countries and are manufactured in over 250 outsourced units. ITC also rooted in India's soil. ITC is also inspired by a big opportunity to serve as a larger national purpose. ITC also endure the value for its stakeholders. ITC have empowered various type of strategies to aspire for creating enduring value. The various strategies that ITC have focused on are discussed
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trusteeship, transparency, empowerment and ethical corporate citizenship. The belief of company that is governance process should ensure that resources are utilised in such a manner that meets stakeholders aspirations and societal expectations are reflected to contribute to the 'Triple bottom line' which is named as development and conservation of the nation's social, economic and environmental capital. Remuneration strategy of ITC aims at attracting the high calibre talent of the employees. Remuneration policy attract and retain the talent and performance significantly. To prevent the insider trading ITC conducted the code of conduct which is approved by the Board of Directors. This prohibits the sale and purchase of securities of the company in possession of unpublished price sensitive information related to the company. ITC code of conduct is applicable to employees, senior management and Directors of the Company. The processes, practices and structure of government are designed to support effective management of multiple business while retaining
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