BY ROBIN GHOSH
( FORMER CHIEF ECONOMIST, BENGAL CHAMBER OF COMMERCE AND INDUSTRY)
KOLKATA, 15 SEPTEMBER 2023:
What described so far are basically components of a unified strategy to ensure continuous growth and pole position in the market.
Now, we will analyze how ITC is executing this unified approach in various vectors of business.
FMCG BUSINESS:
The strategy for FMCG business has been re-defined in order to achieve growth and profitability by –
- Building a future-ready portfolio focused on strengthening and scaling mega brands
- Leveraging these brands to address value-added portfolios and crafting categories of the future.
- Innovation, brand investments reach and digitalization are the primary goals
- Designing premiumzation and penetration – led growth
THE CORE VISION:
The core vision of ITC is to design a futuretech company with a smart digital architecture.
The objective is to empower a digital first culture to create new sources of competitive advantage and transforming all facets of operations starting from in sighting to product development, smart sourcing to on time efficient delivery in market.
The idea is to excel in brand management and marketing through real-time content, connect and commerce.
In the area of trade marketing and distribution, the ITC’s focus is to develop the trade channel into a smart omni channel network.
The network, which can leverage proprietary algorithm for sharp targeting of market, and enhancing responsiveness and efficiency.
Integrating consumer goods manufacturing and logistics facilities are also be given a priority agenda.
Attention is focused to identify strategic locations in order to derive economic of scale and scope, creating agility in market responsiveness, and optimizing logistics with de-layering of operation.
AGRI BUSINESS :
The ITC’s approach to Agri Business is to address how demand responsive agriculture can be developed with consequent value addition.
Apart from these the other agenda of attention are:
Raising productivity, quality and firm incomes, strengthening competitiveness and tackling vulnerabilities arising from climate risk.
Efforts will be taken to bring the power of digital revolution to farmers with FPOs as the game changer.
ITC believes that one of the most important key opportunity areas in the agri sector is horticulture. Huge potential exists for this sector in terms of value addition, exports, and hire farmers’ incomes.
The agri business division of ITC is building its portfolio of value added product across multiple value chains including spices, coffee, frozen marine products, processed foods and organic foods.
PAPER BOARD:
In the Paper Board Sector, ITC’s mission and strategy is to achieve manufacturing excellence, thrust on digital sustainability to enable competitive superior performances and to generate social capital.
The focus is to create a sustainable and competitive fibre chain. The goal is to generate large scale person – day’s employment for marginal farmers.
HOTELS:
For the Hotel Division, the strategy outlines are to choose an asset right strategy mostly through management contracts.
The another significant step has been demerger of the hotel business in order to provide long term stability and instill a sense of assurance among partners, investors and employees.
In addition, help new entities to leverage – ITC’s institutional strength like timeless goodwill, world class brands and governance processes.
The idea is that these steps will sharpen capital allocation, improve asset efficiency ratios, and unlock value for its shareholders.
ITC INFOTECH:
The strategy for the ITC Infotech has been visualized to accelerate digital transformation, optimize cost and operational efficiencies for its clients.
The focus is to build up customer’s centricities, employee’s centricities and operational excellence backed up by deep new age capabilities so that the company is engaged in creating significant value.
CONCLUSION:
- The strategy focus of the ITC is multiple in natures:
- capture exciting growth opportunities
- contribution to the nation
- building business for tomorrow
- Future readiness by embracing contemporary technology and sustainability as the sole of ITC Enterprise.
Advertisement:
Add Comment