August 2020 | Vol 11 | Issue 8
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~ Employee Engagement Snackies ~

# Reinvention: Nokia and Kodak flunk

Periodically remake or revise your sense of purpose.

# Mission: The very reason for being
Strong conviction is the critical element of a journey.

# Heritage: Past and the future

Shared and treasured assumptions, values and competencies.

# Inspiration: An elevating influence

The strength & resilience to make superlative efforts.

# Connectedness: Part of the larger whole

Grow through cooperative behavior and affiliation.

Welcome to the revitalised and fresh Growth is all about managing transition, appreciatively. Like ITC.

Aptly, this issue is about the storied organization's ability to successfully crest the waves of change since inception over a century ago.

What is remarkable about its metamorphosis is the unbroken record of wealth creation all through the evolutionary stages. The manner in which this was accomplished is highly educative, as revealed here. Read on.

The Editorial Team
ITC. What fundamental corporate transformation is all about

How did this staid British firm - once known as Imperial Tobacco Company - transform itself into a giant straddling varied sectors like FMCG, Hotels, Paperboards & Packaging, Agri-Business and Information Technology? Perhaps, it is the organic need to reinvent itself every decade. This film gives a fascinating account of the company's evolution, including an insightful speech by the Late Y C Deveshwar. More

ITC is rooted in the philosophy of congruence between business and social purpose, and its deeply nationalistic character.

This note traces the growth of the company during the tenure of its many Chairmen including AN Haksar (1969–1983), JN Sapru (1983–1991), KL Chugh (1991–1995) and finally YC Deveshwar (1996–2017). It was under Mr. Deveshwar that the process of reinvention began at ITC. The It rested upon five key elements:

a) Diversification
b) Harnessing of internal strengths
c) Service of the national interest
d) Triple Bottom Line Performance
e) Robust Corporate Governance

Read the full note.

Engage!: Co-creating Organizational Vitality and Individual Fulfilment

Excerpt #1: The Engaged Organization
Organizations have evolved over the centuries. They make use of contemporary capabilities, in order to produce the products and services needed at the time. The ideal organization is one that can mobilize a virtually unlimited number of people towards the creation of meaningful products, services, and experiences - in ways that can help to fulfill the greatest aspirations of its stakeholders.

The figure below shows how an “engaged” organization may be built as a coherent whole at many levels.

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