Beyond Profit & Compliance: ITC's Ethical Octagons for Shared Value & ESG Triumph
Introduction. The Indian company ITC Limited is a prime example of the effectiveness of a values-based strategy. ITC has continuously put building value for all of its stakeholders first, from its modest beginnings in the tobacco sector to its current expansive empire comprising FMCG, hotels, paperboards and agribusiness. This blog explores the core principles, effective applications, and influence of ITC's value-based philosophy on the company's incredible journey. To Begin with, let us try to understand what is Value-Based Management? A strategy framework known as value-based management (VBM) places emphasis on maximising long-term value generation for all parties involved, not just shareholders. It considers the environmental, social, and governance (ESG) aspects that affect a company's total sustainability and societal effect in addition to standard financial measurements. ITC's VBM approach rests on five core pillars: Sustainable Value Creation: ITC acknowledges ...