Agility and ability of ITC Ltd to adapt to its external environment

Agility and ability of ITC Ltd to adapt to its external environment In this particular analyses of ITC Limited we are going to look upon the the agility and ability of its growth and how it has been sustainable over a longer period of time. ITC limited, is a multi-business portfolio headquartered in Kolkata, India by Yogesh Chander Deveshwar. It is a 100 year old company. It focuses on all round value creation to build a strong corporate governance policies and systems. It expanded its business in the following years: Presently ITC Limited is purely an independent Company In August 24, 1910 it was incorporated by Imperial Tobacco Company of India Limited and shared ancestry with Imperial Tobacco. In 1970 it was changed to India Tobacco Company Limited from Imperial Tobacco Company of India Limited. Later in 1974 it was changed to I.T.C Limited. In 1985, it introduced Surya Tobacco Company in Nepal which was renamed ‘Surya Nepal Private Limited’ in August 2002. In 1972, ITC entered into Hotels business. ITC premier chain of luxury hotels is known as ITC Welcome group. In 1975, it introduced its hotel business in Chennai named ‘Hotel Sheraton’. It has entered into hotel business to have privilege to host the guests across the world .It was first one to introduce brand sustenance in the Hotel Industry. Its restaurants such as Dakshin, DumPukht and Bukhara are known world wide for its auspicious Indian cuisines from the various sectors of the country.One reason why ITC entered into hotels because it was a British company and in Indian society trend of Tobacco was looked down upon at that time. With enhancement of tourist infrastructure in Hotel business it earns high foreign currency which helped company to govern a good brand image and added a valuable amount to Indian Economy. It great infrastructure of Tourism and large scale of direct and indirect employment has added a great value to the nation. It 1979, it introduced its paperboards business named ‘ITC Bhadrachalam Paperboards Limited’ which was on November, 2002 merged with Tribeni Tissues Limited (which was introduced in 1990 and was the major tissue paper supplier). It was the first supplier in packaging, therefore it has high value added position in market. In 1990 it entered with its Agri-business for the export of agri-commodities. Today it is one of the largest exporters industry .Throughout its agricultural areas in India it has developed a network in business model centers of Internet connected Kiosks, known as e-Choupal. In 2000, it Introduced Lifestyle Retailing business under brand name ‘Wills’ with great International quality of relaxed sports wear for both men and women. In 2002, it expanded its range including Wills Classic Formal Wear and specific segment of men’s wear brand, ‘John Players’. In 2003, with wills Club-life evening wear. In 2004, government put estoppel on Tobacco advertising which compelled ITC not to associate â€Å"Wills† by the brand name of Cigarettes anymore, to save it from being charged for it advertising. In 2000, it also came with its owned subsidiary business of Information Technology named, ‘ITC Infotech India Limited’. It has availability of high man power quality. In August, 2001, ITC entered into Food Industry with packaged and branded food business of ready-to-cook eatables with the brand name â€Å"Kol† with a premium price range. In the beginning it followed the strategy that it will trade at the places where there are less number of competition to built its brand image. Along with the food industry, it has also launched a new brand named, ‘Kitchens of India’. In that period there was a great demand for processed food because of increase in disposable income and urbanization resulted in growth opportunities. One of the reason why ITC entered into Food Industry because in 2001-02 the excise duty on budget on processed fruit and vegetables has been brought down from 16% to z ero level .Later in june,2002 , to generate more revenues it launched products like staples, snacks and confectionery.

Managing Change by Managing Risk Essay Example | Topics and Well Written Essays - 3000 words

Managing Change by Managing Risk - Essay Example Technological development means keeping the technology up to date for the company in order to remain competitive in the market. Competitive environment forces the companies to retain good quality of the products and services in order to improve customer satisfaction. 3.2 Internal Forces of Change Internal forces of organizational change include such forces, which force the change to occur inside the company. These changes are very significant in order to increase employee satisfaction and employee commitment towards their job responsibilities. The changes include change in the working atmosphere, change in employment rules and regulations, and change regarding employee retention strategies. 4. Risk Management Harrison (n.d.) states, â€Å"Change is inherently ambiguous, and those who deal creatively with change will have a high tolerance for uncertainty†. In case of organizational change, we can say that organizational change needs proper management of risks in order to be suc cessful. Francois (n.d.) states, â€Å"A change management process is a series of business practices used to control and manage change within a large system or organization†. Risk management is one of those business practices that are needed to implement organizational change. â€Å"Much of risk management work is focused on the management of risk in a 'business as usual' and relatively stable environment† (Anderson 2004). Risk management is a process, which is used to identify and measure the risks being faced by a company or a firm. Risk management refers to the concept of keeping the risks under control so that they do not create any kind of dangerous situation for the company. This process of... According to the research there are two types of organizational change, which include external and internal forces of change. External and internal forces of change not only result in altering organizational policies concerning various business activities but also influence major functions of management. The external forces of change include competitive business environment, technological development, and political and social environment of an organization. Technological development means keeping the technology up to date for the company in order to remain competitive in the market. Competitive environment forces the companies to retain good quality of the products and services in order to improve customer satisfaction. Internal forces of organizational change include such forces, which force the change to occur inside the company. These changes are very significant in order to increase employee satisfaction and employee commitment towards their job responsibilities. The changes incl ude change in the working atmosphere, change in employment rules and regulations, and change regarding employee retention strategies. Changes are inevitable in every company or organization whether it belongs top construction industry or some other industry. Managers need to consider several issues related to different business activities before planning to bring some change to the organizational policies. Risk management also plays a key role in change management. Some of the risks related to construction companies include design assumption risk, structural development procedures, fire risk, and environment uncertainty risks.

Metabical case study Example | Topics and Well Written Essays - 750 words

Metabical - Case Study Example Pricing decisions on Metabical has an impact on the profitability of the drug as well as on the entire company. Depending on the type of the target customers and the geographical location, setting prices for the drug will impact its profitability. As far as pricing is concerned, people are not worried about the price and prefer to take prescribed drugs rather then non-prescribed drugs irrespective of the price of the drug. Thus to set up a higher price for Metabical would not be a problem, instead it will increase on profitability since customer numbers will not be affected (Quelch & Beckham, 2010).The Estimated Retail price will be $3 to $5 per pill, dosage is 1 pill per day, and treatment will be 12 weeks. The Return on investment (ROI) for the first five years for the pricing decisions is as follows:Â   or year 1, the sales turnover is 347.4 giving a ROI of (19%), year 2, sales turnover is 383.88 giving a ROI of 77%, year 3, sales turnover is, 424.18, ROI is 183%, year 4, sales t urnover is 468.72, ROI is 300% while year 5, sales turnover is 517.94, giving a ROI of 429 percent. From the figure, the ROI has been increasing year by year meaning the price strategies is one of the best (Quelch & Beckham, 2010). Question 3The positioning strategy chosen mean that Metabical has already a good image thanks to the communication and marketing strategy applied and the fact that Metabical is a prescribed drug. The existing marketing communications strategy will continually create a strong demand for Metabical.