Like meticulous, hard-working individuals, corporate houses, too, work hard to stand out among all the others and get recognition. It is this appreciation that provides new power and encouragement to move forward and achieve greater heights. And this Indian company is showing the road to others — how to be a star!
Tata Chemicals Ltd, part of an Indian multinational conglomerate, The Tata Group, was recently felicitated with one of the most-coveted corporate awards, The Porter Prize, 2019, which aims at recognizing the strategic acumen of corporate houses in India.
The Porter Prize, 2019, was received by Zarir Langrana, Executive Director and President, Global Chemicals Business, Tata Chemicals, and Richard Lobo, Head- Strategy and Business Excellence, Tata Chemicals, in the presence of Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister (EAC-PM) and Amit Kapoor, President and CEO of the India Council on Competitiveness, Honorary Chairman at the Institute for Competitiveness, India, and Editor-in-Chief of Thinkers, at an event held in Delhi.
‘Recognition of relentless effort’
“This award is a true recognition of the organization’s relentless effort to be ahead of the curve through strategic thinking and innovation. Having achieved a leadership position in the space we operate in, the company continues to amplify its efforts in inventing sustainable product portfolios to achieve the next level of growth. This award is also an appreciation for all my colleagues at Tata Chemicals for their generous support for all these years to achieve our strategic goals. As a science-led organisation, we continue to serve society through science and innovation and be a leader in corporate sustainability, focusing on all three elements — People, Planet and Profits.”
The award’s 4 major pillars
The Institute for Competitiveness Strategy awards annually recognize and honour the best companies operating in India, which, through their strong strategy, have carved out their own niche. The objective is to propel companies to compete on the basis of value creation, innovation and strategy. The prestigious awards are based on four major pillars to identify and reward the most outstanding companies for their strategy:
- Capitalizing on industry dynamics
- Segmenting strategically
- Leveraging unique activities and
- Exploiting trade-offs