Interesting Excerpts of the ITC Chairman- Deveshwar’s AGM address during the 100th year commemoration
“Vision values and vitality
The most critical factor in the longevity of an organization is its integral vitality namely the capability to remain relevant and contemporary, the ability to anticipate and proactively manage change and the agility to continuously reinvent and reinvigorate itself.
The vitality is manifest in many ways .......in the deepening consumer insight, ability to rapidly absorb knowledge and harness technology, breakthrough innovations in products and processes, the widening bandwidth of it's distributed leadership and it's resilient adaptive ness to continuously leverage the market opportunity. Together it constitutes an ever strengthening competitive capability.”
“Governance structure
The decentralized structure with distributed leadership, enables the executive management of each of it's businesses to relentlessly pursue the task of attaining international competitiveness by focusing on honing it's unique skills, unencumbered by the other priorities of the corporate structure. In the other hand the senior team at the apex is engaged in the strategic supervision and management of the company as a whole, free from the involvement in the day to day functioning of the business divisions. This structure enables the top management to assume the character of holding company with a mindset of a venture capitalist, mentoring existing businesses and creating newer avenues for growth by blending skills and capabilities drawn from different parts of the company. Over time these blended capabilities will in turn spawn newer competencies which will impart a force multiplier to the company 's future growth potential.”
“New paradigms of competitiveness
Future competitiveness of companies and therefore their profitability will crucially depend on the ability to embrace Sustainability.”
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