Strategic Management: Business Strategy

Running Head: STRATEGIC MANAGEMENT 0
BUSINESS STRATEGY

STRATEGIC MANAGEMENT 1
Executive Summary
There is no fact laid down that some of the crterias are considered while forming the business
level strategies. However, a strategy is used to win and aquire greater market share. A
strategy is an plan which is integrated to the company`s goals, actions, policies with a
sequence of resources and embedding it into viable external environment by complying with
the internal competencies (Davies, Mete, and Whelan, 2018). It is one of the India`s top
private sector organisation that has great place in the market. Recenttly, the company has
entered in hotel industry in 1975 as it is considered as one of the most reputable company in
the business world as well as the Forbes magazine. The company offers infortmation
technology, cigrettes, Food, Lifestyle retailing, personal care, safety measures, and
agricultural products (Riva, Villar, Ramos, and Marañón, 2015).

STRATEGIC MANAGEMENT 2
Table of Contents
Introduction................................................................................................................................3
Strategies of ITC........................................................................................................................4
Functional Level Strategy..........................................................................................................4
Business level strategies.............................................................................................................5
Recommendation........................................................................................................................8
Conclusion..................................................................................................................................9
References................................................................................................................................11

STRATEGIC MANAGEMENT 3
Introduction
ITC limited was incorporated on 24th August 1910 with the name Imperial Tobacco Company
of India, however, with the change in ownership of the company in 1970, it was renamed to
India Tobacco Company Ltd (ITC limited, 2018). Initially, the brand has a limited business
of leaf tobacco and cigarettes, however, with rise in competition and internalisation of
various global companies, the company has diversified into various businesses such as
hospitality sector, printing and packaging, agribusiness, IT and lifestyle retailing and branded
packaged foods. At present, the company headquartered is situated in Kolkata (ITC limited,
2018).
As per the list of Fortune India 500, ITC ranked as a 36th position having more than 25,000
plus employees worldwide (ITC limited, 2018). As per 2018 revenue figure, the company
earned 44,673.52 crores with net income of 11,271 crores. The company mission stands out
to enhance wealth generation capability of firm in relation with global environment, offering
sustainable and superior value to the stakeholders (ITC limited, 2018).
This assignment presents brief overview of company functional and business level strategies
in align with several theoretical framework and theories. For the fulfilment of functional level
strategies, there are various classified departments such as finance, marketing and HR
(Perkins, Inger, Bearhop, and Sanders, 2018). Moreover, business level strategies of ITC
Limited is also stated below under the operational scope of the firm such as focused
differentiation, cost leadership and focused cost leadership inclusive of bringing competitive
edge to the firm. In last, several recommendations are also being suggested in light of their
current and future potential strategy benefit ITC in its future sustainability (ITC limited,
2018).