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.