ITC A Case Study
ITC- A CASE STUDY
By: MIT SHAH, MBA.Tech EXTC, II Year, M624
ITC Limited or ITC is an Indian conglomerate headquartered in Kolkata, West Bengal. Its diversified business includes five segments: Fast Moving Consumer Goods (FMCG), Hotels, Paperboards & Packaging, and Agri Business & Information Technology. The following is the case study which studies the type of management, organizational culture, PEST analysis and CSR policies incorporated by ITC Limited.
The key features of the strategies and policies implemented by ITC Limited are explained thoroughly in this paper. I. MANAGEMENT THEORY (SCIENTIFIC MANAGEMENT)
Frederick Winslow Taylor investigated the effective use of human resources in the industrial organization, particularly at the shop level. He put the problem of managing in a scientific way. His objective was to provide a scientific basis for designing and performing various jobs. He was of the view that there is a science for doing each job. In Taylors view, if a work is analyzed scientifically it will be possible to find one best way to do it. “
PRINCIPLES OF SCIENTFIC MANAGEMENT
1. Development of Science for each element of work. (Replacement of rule of thumb)
2. Scientific Selection, Training & Development of Workers
3. Co-operation between Management & workers or Harmony not discord
4. Division of Responsibility
5. Mental Revolution
6. Maximum Prosperity for Employer & Employees
7. Differential Wage System & Management by exception
8. Standardization of methods, procedures, tools and equipment
9. Use of Time and Motion study
It is accepted that scientific management enables the management to put resources to its best possible use and manner.
APPLICATION OF SCIENTIFIC MANAGEMENT BY ITC LIMITED
1. Dealing with People in the Organisation
In dealing with each other, directors, senior management and employees shall uphold the values which are at the core of our HR Philosophy - trust, teamwork, mutuality and collaboration, meritocracy, objectivity,
By: MIT SHAH, MBA.Tech EXTC, II Year, M624
ITC Limited or ITC is an Indian conglomerate headquartered in Kolkata, West Bengal. Its diversified business includes five segments: Fast Moving Consumer Goods (FMCG), Hotels, Paperboards & Packaging, and Agri Business & Information Technology. The following is the case study which studies the type of management, organizational culture, PEST analysis and CSR policies incorporated by ITC Limited.
The key features of the strategies and policies implemented by ITC Limited are explained thoroughly in this paper. I. MANAGEMENT THEORY (SCIENTIFIC MANAGEMENT)
Frederick Winslow Taylor investigated the effective use of human resources in the industrial organization, particularly at the shop level. He put the problem of managing in a scientific way. His objective was to provide a scientific basis for designing and performing various jobs. He was of the view that there is a science for doing each job. In Taylors view, if a work is analyzed scientifically it will be possible to find one best way to do it. “
PRINCIPLES OF SCIENTFIC MANAGEMENT
1. Development of Science for each element of work. (Replacement of rule of thumb)
2. Scientific Selection, Training & Development of Workers
3. Co-operation between Management & workers or Harmony not discord
4. Division of Responsibility
5. Mental Revolution
6. Maximum Prosperity for Employer & Employees
7. Differential Wage System & Management by exception
8. Standardization of methods, procedures, tools and equipment
9. Use of Time and Motion study
It is accepted that scientific management enables the management to put resources to its best possible use and manner.
APPLICATION OF SCIENTIFIC MANAGEMENT BY ITC LIMITED
1. Dealing with People in the Organisation
In dealing with each other, directors, senior management and employees shall uphold the values which are at the core of our HR Philosophy - trust, teamwork, mutuality and collaboration, meritocracy, objectivity,