Godrej Consumer Products Limited awarded the Porter Prize for Creating Shared Value 2016
30 September 2016
Godrej Consumer Products Limited (GCPL) has been awarded the Porter Prize for Creating Shared Value 2016, at the 5th Porter Prize award ceremony organised by the Institute for Competitiveness, India, in New Delhi. The Porter Prize, named after Michael E. Porter, recognises the strategic acumen of corporates in India. It is built on the premise that the competitiveness of a company and the health of the communities around it, are mutually dependent.
Godrej Consumer Products Limited has been awarded for its outstanding performance in the industry and is recognised for the high impact the organisation has created by reconceiving products and markets, redefining productivity in the value chains, enabling community development and in turn creating societal and economic progress. Of the 110 companies that handed in nominations for the Porter Prize awards this year, 27 were shortlisted to be awarded in different categories.
Commenting on the achievement, Vivek Gambhir, Managing Director, Godrej Consumer Products Limited, said:
"We are delighted to receive the Porter Prize for Creating Shared Value 2016. As a company, we have always actively championed social responsibility. We are deeply committed to driving the social progress of the communities that our businesses operate in. We have adopted a 'shared value' approach to business growth and innovation. The idea is to link business success with social progress.
There are different ways in which we do this. Take the serious impact of vector borne diseases like Malaria, Dengue and Chikungunya, for example. Approximately 4 lakh cases of Dengue and Malaria, and over 10,000 cases of Chikungunya were reported in India this year. As leaders in the household insecticides category, we are committed to creating safe, cost effective solutions and extending our full support to the Government to control the spread of these diseases.
95 per cent of our population in India resides in malaria prone areas. In rural areas in particular, the penetration of household insecticides is very low. 83 per cent of rural India or approximately 40 per cent of the households in the country, don't use these products because the options available are expensive or require electricity. So, to tackle this problem, we created Good knight Fast Card, a revolutionary paper-based mosquito repellent at one rupee. Our idea was to launch a product that would break the price barrier, work instantly and not require electricity. Fast Card has been a runaway success. We have also recently added to our portfolio with the launch of a range of outdoor and personal repellents in India."
Vikas Goswami, Head, Sustainability - Good & Green, Godrej Industries Limited and Associate Companies, added:
"We are implementing large-scale behaviour change communication campaigns to increase awareness about mosquito-borne disease protection and prevention, diagnosis, and access to health care leading to curative measures available. Through this, we hope to empower communities with the right information so that they can take charge of their own protection against mosquito-borne diseases, reduce disease load and its negative economic impact."
About Godrej Consumer Products Limited
Godrej Consumer Products is a leading emerging markets company. As part of the 119-year young Godrej Group, we are fortunate to have a proud legacy built on the strong values of trust, integrity and respect for others. At the same time, we are growing fast and have exciting, ambitious aspirations.
Today, our Group enjoys the patronage of 1.1 billion consumers globally, across different businesses. In line with our 3 by 3 approach to international expansion at Godrej Consumer Products, we are building a presence in 3 emerging markets (Asia, Africa, Latin America) across 3 categories (home care, personal wash, hair care). We rank among the largest household insecticide and hair care players in emerging markets. In household insecticides, we are the leader in India, the second largest player in Indonesia and are expanding our footprint in Africa. We are the leader in serving the hair care needs of women of African descent, the number one player in hair colour in India and Sub-Saharan Africa, and among the leading players in Latin America. We rank number two in soaps in India and are the number one player in air fresheners and wet tissues in Indonesia.
But for us, it is very important that besides our strong financial performance and innovative, much-loved products, we remain a good company. 24 per cent of the holding company of our Group is held in a trust that invests in the environment, health and education. We are also bringing together our passion and purpose to make a difference through our 'Good & Green' approach to create a more inclusive and greener India.
At the heart of all of this, is our talented team. We take much pride in fostering an inspiring workplace, with an agile and high performance culture. We are also deeply committed to recognising and valuing diversity across our teams.
For more information, visit http://godrejcp.com
About Porter Prize
Porter Prize is named after Michael E. Porter who is Professor at Harvard Business School, living legend and father of modern strategy field. The central idea of the Porter Prize is to propel companies to compete on the basis of value creation, innovation and strategy.
Institute for Competitiveness, India is an independent, international initiative centered in India, dedicated to enlarging and disseminating the body of research and knowledge on competition and strategy, pioneered over the last 25 years by Professor M.E. Porter of the Institute for Strategy and Competitiveness, Harvard Business School (ISC, HBS), USA. Institute for Competitiveness, India works in affiliation with ISC, HBS, USA to offer academic and executive courses, conduct indigenous research and provide advisory services to corporate and Government within the country.
For more information, visit http://www.porterprize.in
Head - Communication Design, Godrej Consumer Products Limited
Account Director, AdFactors PR