Life of Itc Essay Example

Life of Itc Essay Example Life of Itc Essay Life of Itc Essay It employs over 29,000 people at more than 60 locations across India and is listed on Forbes 2000. ITC Limited completed 100 years on 24 August 2010. ITC has operations in the FMCG (Fast Moving Consumer Goods) industry, Hotels, Paperboards amp; Specialty Papers, Packaging, Agri-Business and Information Technology. While ITC is a market leader in its businesses of Hotels, Paperboards, Packaging, Agri-Exports and Cigarettes, it is rapidly gaining market share even in its nascent businesses of Packaged Foods amp; Confectionery, Branded Apparel, Personal Care and Stationery.Meera Shankar joined the board of ITC Ltd as the first women director in its history. She is an additional non-executive director of the company. [4][5] Contents * 1 History * 2 List of products amp; brands * 3 Rural initiatives * 4 Corporate philanthropy * 5 Forbes ranking * 6 Products * 6. 1 Foods * 6. 2 Lifestyle Retailing * 6. 3 Personal Care * 6. 4 Education and Stationery * 6. 5 Hotels * 7 References * 8 External links History ITC was formed on 24th August 1910 under the name Imperial Tobacco Company of India Limited.Later the name of the Company was changed from Imperial Tobacco Company of India Limited to India Tobacco Company Limited in 1970 and then to I. T. C. Limited in 1974. ITC contains a wide range of businesses Cigarettes amp; Tobacco, Hotels, Information Technology, Packaging, Paperboards amp; Specialty Papers, Agri-business, Foods, Lifestyle Retailing, Education amp; Stationery and Personal Care . Finally the company changed its name to ITC Limited’ on September 2001. The earlier decades of the Companys activities centred around the tobacco industry.In the Seventies it started to launch other businesses. In 1975 the Company launched its Hotels business with the acquisition of a hotel in Chennai which was rechristened ITC-Welcomgroup Hotel Chola. The objective of ITCs entry into the hotels business was rooted in the concept of creating value for the nation In 1979, ITC entered the Paperboard business by promoting ITC Bhadrachalam Paperboards Limited, which today has become the market leader in India. [citation needed] In 1985, ITC set up Surya Tobacco Co. in Nepal as an Indo-Nepali and British joint venture.Since inception, its shares have been held by ITC, British American Tobacco and various independent shareholders in Nepal. In August 2002, Surya Tobacco became a subsidiary of ITC Limited and its name was changed to Surya Nepal Private Limited (Surya Nepal). Also in 1990, leveraging its tends to 10 states covering over 4 million farmers. ITCs first rural mall, christened Choupal Saagar was inaugurated in August 2004 at Sehore. On the rural retail front, 24 Choupal Saagars are now operational in the 3 states of Madhya Pradesh, Maharashtra and Uttar Pradesh. citation needed] In 2000, ITC forayed into the Greeting, Gifting and Stationery products business with the launch of Expressions range of greeting cards. A line of premium range of notebooks under brand Paperkraft was launched in 2002. To augment its offering and to reach a wider student population, the popular range of notebooks was launched under brand Classmate in 2003. Classmate over the years has grown to become India’s largest notebook brand and has also increased its portfolio to occupy a greater share of the school bag.Years 2007- 2009 saw the launch of Children Books, Slam Books, Geometry Boxes, Pens and Pencils under the Classmate brand. In 2008, ITC repositioned the business as the Education and Stationery Products Business and launched Indias first environment friendly premium business paper under the Paperkraft Brand. Paperkraft offers a diverse portfolio in the premium executive stationery and office consumables segment. Paperkraft entered new categories in the office consumable segment with the launch of Textliners, Permanent Ink Markers and White Board Markers in 2009. citation needed] ITC also entered the Lifestyle Retailing business with the Wills Sport range of international quality relaxed wear for men and women in 2000. The Wills Lifestyle chain of exclusive stores later expanded its range to include Wills Classic formal wear (2002) and Wills Clublife evening wear (2003). [citation needed] In 2000, ITC spun off its information technology business into a wholly owned subsidiary, ITC Infotech India Limited, to more aggressively pursue emerging opportunities in this area.Today ITC Infotech is one of India’s fastest growing global IT and IT-enabled services companies and has established itself as a key player in offshore outsourcing, providing outsourced IT solutions and services to leading global customers across key focus verticals Manufacturing, BFSI (Banking, Financial Services amp; Insurance), CPGamp;R (Consumer Packaged Goods amp; Retail), THT (Travel, Hospitality and Transportation) and Media amp; Entertainment. citation needed] ITCs foray into the Foods business is an outstanding example of successfully blending multiple internal competencies to create a new driver of business growth. It began in August 2001 with the introduction of Kitchens of India ready-to-eat Indian gourmet dishes. In 2002, ITC entered the confectionery and staples segments with the launch of the brands mint-o and Candyman confectionery and Aashirvaad atta (wheat flour). 2003 witnessed the introduction of Sunfeast as the Company entered the biscuits segment.ITCs entered the fast growing branded snacks category with Bingo! in 2007. In just over a decade, the Foods business has grown to a significant size with over 200 differentiated products under six distinctive brands, with an enviable distribution reach, a rapidly growing market share and a solid market standing. [citation needed] In 2002, ITCs philosophy of contributing to enhancing the competitiveness of the entire value chain found yet another expression in the Safety Matches initiative.ITC now markets popular safety matches brands like iKno, Mangaldeep, Aim, Aim Mega and Aim Metro. ITCs foray into the marketing of Agarbattis (incense sticks) in 2003 marked the manifestation of its partnership with the cottage sector. ITCs popular agarbattis brands include Spriha and Mangaldeep across a range of fragrances like Rose, Jasmine, Bouquet, Sandalwood, Madhur, Sambrani and Nagchampa. ITC introduced Essenza Di Wills, an exclusive range of fine fragrances and bath amp; body care products for men and women in July 2005.Continuing with its tradition of bringing world class products to Indian consumers the Company launched Fiama Di Wills, a premium range of Shampoos, Shower Gels and Soaps in September, October and December 2007 respectively. The Company also launched the Superia range of Soaps and Shampoos in the mass-market segment at select markets in October 2007 and Vivel De Wills amp; Vivel range of soaps in February and Vivel range of shampoos in June 2008. [citation needed] List of products amp; brands | It has been suggested that Classic filter kings be merged into this article. (Discuss) Proposed since November 2010. In FMCG, ITC has a strong presence in : * Cigarettes: W. D. amp; H. O. Wills, Gold Flake Kings, Gold Flake Premium,Gold Flake Super Star, Navy Cut, Insignia, India Kings, Classic (Verve, Menthol, Menthol Rush, Regular,Citric Twist, Mild amp; Ultra Mild), 555, Benson amp; Hedges, Silk Cut, Scissors, Capstan, Berkeley, Bristol, Lucky Strike, Players and Flake. * Foods: (Kitchens of India; Aashirvaad,Minto,Sunfeast,Candyman,Bingo,Yippee, Sunfeast Pasta brands in Ready to Eat, Staples, Biscuits, Confectionery, Noodles and Snack Foods); * Apparel: (Wills Lifestyle and John Players brands); Personal care: (Fiama di Wills; Vivel; Essenza di Wills; Superia; Vivel di Wills brands of products in perfumes, haircare and skincare)[6] * Stationery: (Classmate and PaperKraft brands) * Safety Matches and Agarbattis: [Ship (through ownership of WIMCO); iKno; Mangaldeep; Aim brands] Other businesses include: * Hotels: ITCs hotels (under brands including WelcomHotel) have evolved into being Indias second largest hotel chain with over 80 hotels throughout the co untry. ITC is also the exclusive franchisee in India of two brands owned by Sheraton International Inc. The Luxury Collection and Sheraton which ITC uses in association with its own brands in the luxury 5 star segment. Brands in the hospitality sector owned and operated by its subsidiaries include Fortune and WelcomeHeritage brands. * Paperboard, Specialty Paper, Graphic and other Paper; * Packaging and Printing for diverse international and Indian clientele. * Infotech (through its fully owned subsidiary ITC Infotech India Limited which is a SEI CMM Level 5 company) Rural initiatives ITCs Agri-Business is Indias second largest exporter of agricultural products.ITC is one of the Indias biggest foreign exchange earners (US $ 2 billion in the last decade). The Companys e-Choupal initiative is enabling Indian agriculture significantly enhance its competitiveness by empowering Indian farmers through the power of the Internet. This transformational strategy, which has already become the subject matter of a case study at Harvard Business School, is expected to progressively create for ITC a huge rural distribution infrastructure, significantly enhancing the Companys marketing reach. citation needed] The company places computers with Internet access in rural farming villages; the e-Choupals serve as both a social gathering place for exchange of information (choupal means gathering place in Hindi) and an e-commerce hub. What began as an effort to re-engineer the procurement process for soy, tobacco, wheat, shrimp, and other cropping systems in rural India has also created a highly profitable distribution and product design channel for the company- an e-commerce platform that is also a low-cost fulfillment system focused on the needs of rural India.The e-Choupal system has also catalyzed rural transformation that is helping to alleviate rural isolation, create more transparency for farmers, and improve their productivity and incomes. [citation needed] Corporate philant hropy ITC e-choupal creatively leverages information technology to set up a meta-market in favour of Indias small and poor farmers, who would otherwise continue to operate and transact in un-evolved markets. As of July 2010, services through 6500 Echoupal across 10 states, reach more than 4 million farmers in about 40,000 villages.Free access to Internet is also opening windows of rural India to the world at large. ITC e-choupal is now being regarded as a reliable delivery mechanism for resource development initiatives. Its potential is being tested through pilot projects in healthcare, educational services, water management and cattle health management with the help of several service providers including non-governmental organizations. Classmate notebooks were launched with the initiative of contributing 1 rupee towards the education of poor children,from every four notebooks it sold.Classmate, has launched a programme called Classmate Ideas for India challenge. The programme would be a part of the companys centenary initiative. [7] The nation-wide programme would invite ideas of the youth, who have the potential to transform India. Classmate Ideas for India challenge plans to reach out to 25 lakh students across 30 cities, 500 schools and 200 colleges across the country. [8] Forbes ranking ITC features on the Forbes Global 2000 rankings for 2007 at position 1256. [9] ITC is the only Indian FMCG company that features on the Forbes Global 2000 rankings for 2009 at position 987. 10] ITC also appeared on the Forbes Worlds Most reputable Companies List at position 95. [11] Products ITC brands include: Cigarette * Lucky Strike * Classic * Gold Flake * Navy Cut * Players * Scissors * Capstan * Berkeley * Bristol * Flake * Silk Cut * Duke amp; Royal Foods * Aashirvaad * Bingo! * Sunfeast * Mint-O * Candyman * Kitchens of India Lifestyle Retailing * Wills Lifestyle Personal Care * Essenza Di Wills * Vivel * Fiama Di Wills * Superia * Engage Deodorants Education and S tationery * Color Crew * Classmate(notebook) * Paperkraft Hotels * Official website * Hotels in DelhiReferences 1. ^ itcportal. com/about-itc/itc-profile/history-and-evolution. aspx 2. ^ History and Evolution of ITC Limited. ITC Limited. Retrieved 2007-09-23. 3. ^ itcportal. com/about-itc/profile/history-and-evolution. aspx 4. ^ ITC inducts Meera Shankar in its board as the first women ever. 2012-08-07. 5. ^ ITC Board of Directors. 2012-09-06. 6. ^ ITC Personal Care Products. 7. ^ ITC: Leading Multi-business conglomerate turns 100. The Economic Times. 2010-08-24. 8. ^ ITC launches Classmate Ideas challenge. Business Line. 2010-08-23. 9. ITC shifts media account to Madison from Lintas Read more: ITC shifts media account to Madison from Lintas The Times of India http://timesofindia. indiatimes. com/business/india-business/ITC-shifts-media-account-to-Madison-from-Lintas/articleshow/6772430. cms#ixzz14ViJTAT3 10. ^ The Global 2000. Forbes. 2009-04-08. 11. ^ Kneale, Klaus (2009-05-06) . Worlds Most Reputable Companies: The Rankings. Forbes. 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