ITC LTD.: TOWARD A TRIPLE BOTTOM LINE PERFORMANCE Case Study: Analysis Case Solution
According to the surveys of WHO and other NGOs, consumption of smoking and tobacco has led million people towards death and cause other severe health issues and diseases. Therefore, the government of India tries several attempts to restrict the consumption of tobacco and cigarette such as, taxation, ban on advertisement, ban on sales to minors, and ban on smoking in public places(Simon Chapman, 1996). Furthermore, Cigarettes and other tobacco products Act 2003 has been implemented in India in 2014 in order to reduce the consumption of tobacco and cigarette and to made it difficult for the companies to reach to the potential consumers. Moreover, the Act also required the companies to display pictures of the health dangers from smoking such as oral cancer and lung cancer which would cause negative impacts on the sales of the cigarettes producing companies. In addition, smuggled cigarette was also a major threat for the legal companies India which was likely to decline the sales of the different legal companies.
Moreover, the competitors such as God frey Philips in the similar industry were also facing the above mentioned challenges due being involved in the cigarette producing business. Therefore, the competitors were also facing the similar challenges and opportunities as the ITC industry.
Companyâ€™s Corporate Social Responsibility: Triple Bottom Line Approach
The companyâ€™s corporate strategy had focused on creating multiple opportunities of growth which based on its core competencies. Its core competencies build around, distribution reach, capabilities of building brand, supply chain management and service skills. The vision of the company revolves around increasing the wealth of its stakeholders in order to satisfy their core desires.(mit Kumar Srivastava, Gayatri Negi, Vipul Mishra, Shraddha Pandey, 2012)
The companyâ€™s focus of creating environmental value:
ITC Ltd.put its all efforts to create an environmental value which was also visible in its initiatives. The company has also focused to store the carbon twice than it released and has been a carbon positive company that adds value in creating a pleasant environment. ITC Ltd. was also a water positive company and harvest three times greater water than it consumed in addition, it has also some water recycling initiatives. Furthermore, the company itself generates energy from renewable sources which was reducing the adverse effects of climate. Moreover, ITC was also involved in establishing green buildings and green centers Hotels line which was also appreciated by the society.
The company was also involved in creating social value by providing direct and indirect employment for over 5 milions of people through its businesses. The company had cultivated and greened thousands of hectors land. Furthermore, its watershed initiatives helped in providing waters to 54000 hectors of dry lands. ………….
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