Itc company vision and mission

ITC LTD: Final Project 2

It is required that this template be used for your final project submission. Be sure to delete all instructions as noted in red italics.

Final Submission: Final Case Study Analysis and Strategy Proposal

In Module Seven , you will submit the final case study analysis and strategy proposal . It should be a complete, polished artifact containing all of the critical elements of the final project. It should include the information from the two milestones plus Section IV, Critique of Organization, and Section V, Revised Strategy Plan, making sure to reflect the incorporation of feedback gained throughout the course. This submission will be graded with the Final Project Rubric.

ITC: Social Responsibility and Ethics

OL-326: Social Environment of Business

Introduction

In this part of the project, you will introduce the company present in the case study, describing the important attributes of the company that should be considered when analyzing its consideration of social responsibility. Describe the organization in the case study. In other words, how is the organization described in the case study? What are its key attributes? What are its strengths and weaknesses?

ITC Ltd. Overview

Describe the organization in the case study.

ITC LTD. is a company that has a presence in many different areas. Despite the company being a powerful company in the cigarette industry, ITC LTD. has a presence in hotels, paper boards, agri-business, specialty papers, stationary products and personal care products. The management has been an important part in balancing all the stakeholder’s interests and positioning itself to be a socially-responsible company. The president of ITC LTD. has always put special importance on the need for corporate social responsibility. Although the companies marketing for cigarette products may be weak because they are bad for people’s health, the company continues to stride to keep their company successful. However, the company is a perfect example of Triple Bottom Line Performance with economic, environmental and social values. ITC LTD. main initiatives towards social responsibility include watershed development, education services, self-help services and animal husbandry services. Following these responsibilities helps this company reach their goals for social responsibility. ITC LTD. has remarkable ideas for opportunities for growth in the cigarette industry.

Key Attributes

What are its key attributes?

Strengths and Weaknesses

What are its strengths and weaknesses?

ITC LTD. strengths include; the experienced management. Having an experienced management benefits this company by bringing in new ideas that will help the company grow. Also having a strong management team helps if any issues arise in the company. The brand of the company is also well known. This is due to the corporate social responsibility activities as well as sustainability initiatives that have enhanced the company’s brand image. Having a strong brand image is key to the growth of a company. The company also has a growth strategy that is powered by unique business models. Bringing in unique business models helps create a successful business. The weaknesses for this company include; the future profitability may be threatened by the increase in social costs. The company is still dependent on tobacco revenues and people are shifting to cheaper substitutes. If people continue to find cheaper substitutes instead of buying their cigarettes, this will affect the company greatly by reducing sales. There are also large investments in research and development for ways to reduce smoking or safe alternatives and this is affecting the profitability of the brand portfolio (Paul, 2013).

Social Responsibility

In this part of the project, you will begin your analysis of the case study, examining how the strategy plan of the organization in the case study considers social responsibility.

When trying to talk about corporate social responsibility it is one important aspect by which the organization interacts with its customers. In this case, ITC has various establishments that ensure that it displays social responsibility especially in its structures. ITC company has a well-organized corporate social responsibility framework. ITC also is widely known as one of the companies that values social matters. One of the social responsibility strategies adopted by ITC is the 'Triple Bottom Line'.

Compliance

Analyze the organization’s strategy plan for compliance with the current acceptable standards or norms relative to social responsibility today.

ITC is trying to make an impact through the realization of the national goals of sustainable growth and development. The company measures its performance in terms of financial gains which most companies do. ITC also measures its performance by the transformation it gives towards India’s social capital. This strategy established a source of contribution towards the social, environmental economic capital of the nation (Agarwal, 2008). ITC has a well-crafted strategy which ensures that there is no conflicts between the multiple goals of the value enhancement of the shareholders and the creation of the societal value.

Potential Risks of Gaps in CSR

Analyze the organization’s strategy plan for any gaps in social responsibility that might be potential risks to internal and external stakeholders.

ITC has various shortcomings when it comes to the social responsibility. First, the company has a good strategy regarding the triple bottom line in ensuring that the environmental and societal issues are put at stake. However, ITC fails to show there plan that shows how they will make sure that there is no damage to the environment when they produce and use there cigarettes. The other issues that affect its commitment to the corporate social responsibility is the point that when there are mistakes especially in the taxation, what will be done to adjust into the system.

Positive and Negative Impacts

Predict the potential positive and negative impacts to internal and external stakeholders regarding social responsibility that would result from the strategy plan. In other words, what might happen to the employees and/or people involved in the company regarding social responsibility from this strategy plan? You could consider both the present and future impacts.

The positive impact on the internal stakeholders that the company’s vision towards social responsibility will bring is that it creates the potential of increasing the shareholder values. Through innovation, ITC has developed unique business models that go hand in hand with the values of the shareholders in long term basis. The negative consequences of this strategy is that The company also has some consequences on the external stakeholders. On the positive impacts, the company has ensured that the stakeholders especially the society in general is not affected by the company’s business endeavors. The company has ensured that the community has benefited and will continue to benefit through various projects. However, on the negative consequences, the corporation has failed to integrate the legislation regarding the restriction of smoking and also the social responsibility in terms of health risks. This shows that the community is still being affected by choices that ITC is making.

Evolution

Critique the evolution of strategy planning related to social responsibility within the organization. In other words, what may have influenced the evolution of strategy planning related to social responsibility unique to this organization?

ITC social responsibility plan has ensured that the company has evolved in terms of social cooperation. ITC came up with a vision of ensuring that the financial performance and the benefits to the society are both taken care of. The company aims at envisioning the society as one of its crucial strategies in ensuring that it attains the developmental goals of the country (ITC, 2016). Through this, the social responsibility has developed into one of its strengths and opportunities in the marketing strategy.

Consistent

Explain how this organization is or is not consistent with regard to social responsibility when compared within its own industry and when compared to outside industries. Be sure to justify your response.

ITC has a well-structured framework that ensures that the decisions made are not only for the benefit of the shareholders but also for the benefit of the consumers. The people purchasing the products have a better say than the internal stakeholders. ITC has been named as one of the best companies when it comes to the contribution offered to the society in terms of social responsibility. The company edges out all the external competitors by proving that they can be able to create projects in the country that are not even related to its line of production. ITC has initiated water conservation and agriculture projects.

Ethical Decision Making

Decision-Making Process

Analyze the organization’s strategy plan for decision-making processes that it employs. In other words, based on the strategy plan, how does the organization make decisions?

ITC is a large company with five segments. The segments are all conjoined through a framework which ensures that the decision making process follows a ranked structure. It is therefore important to evaluate the process of making decisions in the company concerning ethics and governance. The structure is more complex, although the decisions regarding social responsibility comes from all the internal stakeholders, including ideas by employees and other personnel.

Ethics

Explain how aspects of ethics were considered in the decision-making processes of the organization. In other words, what were the ethical considerations related to social responsibility in the decisions made by the organization? You could consider the connection between ethics and organizational decision making and how ethics influence those decisions.

When making decisions regarding the corporate social responsibility, then a company should also consider the ethical aspects of the decision making process. There are ethical standards that are put in place by the ITC and one of them is the company’s consideration of the environment and the persons using their products (Ray and Raju, 2014). The company tends to evaluate the stand between shareholder value and the effects of the products. If ITC really belives strongly in there ethics they make sure they listen to the thoughts of outside investors. When making decision they have to think if it is ethically right what they are going to do.

Gaps

Analyze the organization’s strategy plan for any gaps in the decision-making process that could be considered potential risks to internal and external stakeholders.

When it comes to the risks concerning the internal stakeholders, then it is important to note that the company may compromise with the reasoning of the external stakeholders such as the environmental agencies. They come up with strict ideas which may not allow the investors to reap the financial output that they ought to have done. Therefore it is more of a financial risk, although the strategies will help in a long time to come. The external stakeholders also have a risk that it may weaken by the idea that the company will look for ways during the decision making process of conducting social responsibility that favor the company’s image.

Critique the Organization

In this part of the project, you will continue your case study analysis, critiquing the organization regarding how it considers social responsibility and how its processes have been influenced internally and externally.

Components

Utilizing the information in the case study and your previous analysis, determine the appropriate components for a strategic CSR plan for the organization.

Other Organizations

Compare the components chosen pertaining to the organization with other organizations with similar or different strategic components.

Internal And External Influences

Explain how the organization’s internal and external influences have impacted the strategy plan’s compliance with industry standards and common practice in regards to social responsibility.

Potential Risks

Determine potential risks in the current strategy plan and compare them with other relevant organizations (in particular, the same industry) to determine if these risks are common or unique to the organization.

Revised Strategy Plan

In this part of the project, you will imagine you have assumed a leadership role within the organization. You will utilize the case study and your previous analysis to develop a new strategy plan for the organization addressing its social responsibility.

Potential Risks

Develop a revised strategy plan for the organization, addressing any potential risks or gaps regardinggarding social responsibility previously identified in your case study analysis

Process

Explain the process regarding how the revised strategy plan was developed. Be sure to describe why certain components were selected and how they are important to the organization as related to social responsibility.

Influence

Discuss how you considered the influence of internal and external forces when developing your revised strategy plan. In other words, how did you account for the internal and external influences that affected the first strategy plan in the development of your revised strategy plan?

Ethics

Explain how issues of ethics were considered when developing the revised strategy plan. If issues of ethics did not need to be considered or revised, explain why.

References:

Guidelines for Submission: Your paper must be submitted as a 7-10 page Microsoft Word document with double spacing, 12-point Times New Roman font, one- inch margins,title page and at least three sources cited in APA format.

Ref. 1

Ref. 2

Ref. 3

Ref. X

Ref. 1 Paul, S. (2013). MEASUREMENT OF FINANCIAL STRENGTH AND STABILITY: A CASE STUDY OF INDIAN TOBACCO COMPANY (ITC).COUNCIL OF EDULIGHT.

Ref. 2 .Agarwal, S. (2008). Corporate Social Responsibility in India. SAGE Publication

Ref. 3 Ray, S and Raju, S. (2014) Implementing Corporate Social Responsibility: Indian Perspectives. Springer Science & Business Media

Ref. 4 ITC (2016). Our Profile. ITC Limited. http://www.itcportal.com/about-itc/profile/index.aspx