ITC: A Global Model in Sustainability
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Case Code: BSTR609 Case Length: 17 Pages Period: 1910-2019 Pub Date: 2020 Teaching Note: Available |
Price: Rs.500 Organization : ITC Limited Industry : Conglomerate Countries : India Themes: Sustainability, Sustainable Development |
Abstract Case Intro 1 Case Intro 2 Excerpts
Excerpts
Putting Sustainability at the Heart of the Business
Inspired by the overarching vision of making a contribution to the national goals of sustainable development and inclusive growth, ITC had innovatively created distinctive business models that synergized long-term shareholder value creation with enhancing societal capital. This commitment was reflected when ITC measured accomplishments not only in terms of financial performance but also by the transformation it had consciously engendered to augment the social capital of the nation in its Triple Bottom Line' approach of contributing to the economic, environmental, and social capital of the country. Envisioning a larger societal purpose had always been a hallmark of ITC. The company did not see a conflict between the twin goals of shareholder value enhancement and societal value creation...
Important Sustainability Initiatives of ITC
ITC's E-Choupal Eco-system: In a groundbreaking move, ITC set up village internet kiosks called E-Choupals, a unique web-based initiative offering farmers the information, products, and services they needed to enhance farm productivity, improve farm-gate price realizations, and cut transaction costs. Farmers had access to the latest local and global information on weather and scientific farming practices as well as market price at the village itself. The services were provided through this web portal in different languages. It also facilitated supply of high quality farm inputs as well as purchases at the doorstep, thereby saving them time and transportation costs.....
Impact
Implemented in more than 27 states/union territories covering 235 districts of India, ITC's Social Investment Programs such as Sustainable Agriculture and the internationally acclaimed E-Choupal initiative, Social and Farm Forestry, Soil and Moisture Conservation, Biodiversity, Livestock Development, Women's Economic Empowerment, Primary Education, Skilling and Vocational Training, and Health and Sanitation, had a transformational impact on rural India...
Awards And Recognitions for ITC's Sustainability Programmes
ITC was bestowed with numerous national and international awards for creating social and economic value and environment stewardship over the years. It won the inaugural World Business Award in 2004. This award was given to companies which had made significant efforts to create sustainable livelihood opportunities and enduring wealth in developing countries and it was jointly sponsored by UNDP, ICC, and the Business leaders' forum. ITC was given the development Gateway award in 2005 for its trailblazing E-Choupal...
ITC's 2030 Sustainable Livelihood Program
At ITC'S 107th annual general meeting in Kolkata in July 2018, Deveshwar announced, "ITC Ltd is aiming to create over 100 lakhs (10 million) sustainable livelihoods by the year 2030 as part of its social impact schemes." He added, "This is the goal that ITC has adopted and will leave no stone unturned to achieve." He noted that ITC had formed over 49 public-private-people partnerships until 2018 covering areas of national priorities such as watershed development, sustainable agriculture, solid waste management, and financial inclusion...
Looking Ahead
ITC faced various challenges in its pursuit to create sustainable livelihoods. One of the major challenges was discriminatory rates of taxation. The company claimed that although cigarettes accounted for just 15% share of consumption, they contributed over 85% of the Indian Government's tax revenues from the tobacco sector....
Exhibits
Exhibit I: ITC's Globalization in Different Businesses
Exhibit II: Key Highlights of ITC's Sustainability Programme
Exhibit III: Performance against Target 2030 for Mission Sunehra Kal Programmes
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