*Assistant Professor, Maharaja Agrasen Institute of Management Studies, Affiliated to IP University, Delhi
**Assistant Professor, Maharaja Agrasen Institute of Management Studies, Affiliated to IP University, Delhi
Online published on 22 January, 2015.
Creating riches out of rags, and moving from an abysmally low level to an epitomic height is dream of every entrepreneur. Business houses have a vision of refurbishing and recycling waste so as to reduce their cost of production and do relative less damage to the society. This responsible and behemothic task of a mutual synergistic and symbiotic relationship between different parties has been achieved by the Indian Business Conglomerate – ITC Limited. The present case study discusses the initiative ‘WOW’ (Wealth out of Waste) launched by ITC in 2007, which was initially started as a pilot project in Hyderabad. The project which was started at a small level is now soaring high in the sky, with being recognized and appreciated both at national and international levels. WOW was launched by the company to inculcate the habit of segregating waste and increasing the level of recycling garbage; and in less than a decade's time it is benefitting all the stakeholders of the company – the municipality, government, environmental agencies, common man, as well as the company employees and the books of accounts. The case discusses in detail the WOW project, its etymology and the strategic benefits it has brought to the company.
"ITC believes that its aspiration to create enduring value for the nation provides the motive force to sustain growing shareholder value”.
- Y C Deveshwar, Chairman, ITC Limited
