Chairman and CEO, ITC Ltd, in an Exclusive Conversation with B&E’s Bhuvnesh Talwar & Ashutosh Harbola reveals the Path to Sustainability
B&E: What major challenges do you see in today’s business environment?
YCD: Today’s business environment continues to be challenging in the light of our aspirations, vision and increasing competitive forces. Partners in the value chain that were once insignificant are becoming important. It is very dynamic in nature and one thus needs to keep a tab on it.
B&E: Can you recall any major failure that ITC as a brand has faced in the past?
YCD: There have been some setbacks but they are bygones and need not be remembered. The current challenge is to create new businesses on a ‘greenfield basis’ in the face of intense competition. I can’t remember any company like ours which has created a plethora of successful brands in such a short span of time. This is both a challenge and a measure of success.
B&E: How crucial do you think is the role of CSR?
YCD: As I see it, CSR would be a source of competitive advantage for those who do a better job of CSR than those who ignore it. But people ask me, is this the right time for it? Well, it is always the right time as we need to innovate continuously. However, there should be an incentive system in place to achieve.
B&E: How do you view the Indian economy faring in areas of sustainable development?
YCD: In my view the current model of economic growth on which India is succeeding may not be able to carry the demands of growth and sustainability in the future. The current growth has come at the cost of environment and increased divide between the rich and poor. So sustainability, in terms of the impact on social and environmental capital, has to be an integral part of the economic progress we make in the future.
B&E: What major challenges do you see in today’s business environment?
YCD: Today’s business environment continues to be challenging in the light of our aspirations, vision and increasing competitive forces. Partners in the value chain that were once insignificant are becoming important. It is very dynamic in nature and one thus needs to keep a tab on it.
B&E: Can you recall any major failure that ITC as a brand has faced in the past?
YCD: There have been some setbacks but they are bygones and need not be remembered. The current challenge is to create new businesses on a ‘greenfield basis’ in the face of intense competition. I can’t remember any company like ours which has created a plethora of successful brands in such a short span of time. This is both a challenge and a measure of success.
B&E: How crucial do you think is the role of CSR?
YCD: As I see it, CSR would be a source of competitive advantage for those who do a better job of CSR than those who ignore it. But people ask me, is this the right time for it? Well, it is always the right time as we need to innovate continuously. However, there should be an incentive system in place to achieve.
B&E: How do you view the Indian economy faring in areas of sustainable development?
YCD: In my view the current model of economic growth on which India is succeeding may not be able to carry the demands of growth and sustainability in the future. The current growth has come at the cost of environment and increased divide between the rich and poor. So sustainability, in terms of the impact on social and environmental capital, has to be an integral part of the economic progress we make in the future.
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles
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Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
