A Strategic Analysis of ITC Ltd, 2023
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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The primary aim of this report was to carry out an analysis of ITC Ltd by assessing its external and internal environment and its current strategies as well as to generate and evaluate the most successful strategic alternatives. The report utilized a number of analytical tools such as; SWOT analysis, PESTLE analysis, Porter’s five forces analysis, Value chain analysis, and VRIO among others to analyze the internal and external environment of the Indian Tobacco Company, how works, and how it affects its strategy. The company's generic strategies were also examined to assess how the company has leveraged its strengths in order to position itself within the competition.
Founded in 1910, ITC Limited is the leading cigarette maker in India with its headquarters in Kolkata. The company operates in the manufacture of tobacco, food products, and stationery, it is also active in the hospitality industry, packaging industry as well as agricultural and information technology sectors. According to a survey conducted by Fortune India, the company is ranked as India's most admired company. The company is the leading tobacco company as of 2023 with a market cap of 5 trillion Indian Rupees followed by Godfrey Phillips.
An internal and external analysis of the company revealed a number of issues that need to be addressed if the company is to stay competitive and efficient. Some of these challenges include; stringent regulations, health awareness campaigns, competition from illicit trade, decline in domestic consumption among many others (ResearchAndMarkets.com).
An analysis of ITC Limited answered key questions like; what are the strengths and weaknesses of ITC Limited? What strategy does the ITC Company follow? What are the main products of ITC Limited? Who are the competitors for ITC? What is the financial analysis of ITC?
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A Strategic Analysis of ITC Ltd, 2023 Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Understand the business model, vision, and mission of ITC Ltd, one of India's leading conglomerates with diversified interests in FMCG, hotels, paperboards, packaging, agri-business, and IT.
- Evaluate the financial performance, market share, competitive advantage, and social responsibility of ITC Ltd in the year 2023, based on its annual report and other relevant sources.
- Apply various analytical tools and frameworks, such as SWOT, PESTEL, Porter's Five Forces, BCG Matrix, etc., to assess the strengths, weaknesses, opportunities and ,threats of any other organization
1.0 INTRODUCTION
The Indian Tobacco Company (ITC) is one of the largest companies in India, with interests in various sectors such as cigarettes, FMCG, hotels, paperboards, packaging, agri-business, and IT. The company was established in 1910 as the Imperial Tobacco Company of India Limited, and later renamed as the Indian Tobacco Company Limited in 1970.
ITC is the market leader in the cigarette industry in India, with popular brands such as Gold Flake, Navy Cut, Classic, and Wills. The company also has a strong presence in the FMCG sector, with products ranging from foods, personal care, education and stationery, lifestyle retailing, safety matches, and incense sticks (Statista, 2022).
ITC's hotel business is the second largest in India, with 119 Hotels across 80 locations under the brands ITC Hotels, WelcomHotels, Fortune, and WelcomHeritage. ITC's paperboards and packaging business is one the largest in India, catering to diverse segments such as foods, beverages, pharma, personal care, cigarettes, liquor, and consumer goods. The company’s agri-business division is one of the largest exporters of agricultural products from India, with a focus on quality, traceability, and sustainability. ITC's IT business, ITC Infotech, is a global provider of IT solutions and services, serving clients across various industries such as banking, insurance, manufacturing, consumer goods, travel and hospitality (ITC's Website).
This report is going to use a case study of the Indian Tobacco Company to examine its macro and micro environments. This report will use frameworks such as PESTLE, SWOT, Porter's Five Forces, VRIO, and generic competitive strategies, to undertake a strategic overview of the company, including its financial performance, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, and many others.
Key questions to answer in this essay include; what are the strengths of ITC Company? What are the weaknesses of ITC Company? What are Porter's five forces of ITC? What are the challenges faced by ITC? What is the growth strategy of ITC? What strategy does the ITC Company follow? What are the main products of ITC Limited? Who are the competitors for ITC? What is the financial analysis on ITC?
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