| Globally, the flavours and fragrances (F&F) industry is estimated at Rs 80,000 crore, in which the top five players account for 40 per cent of the market. |
| Givaudan, International Flavors & Fragrances (IFF), Firmenich, Symrise, Quest International and Takasago are the world's top F&F companies. |
| The Indian F&F market is estimated at Rs 1,000 crore and is projected to grow at 15 per cent annually. |
| The top five international companies account for 75 per cent of the Indian F&F market. |
| Some prominent Indian F&F houses competing with them are S H Kelkar, Sachee Aromatics and Oriental Flavors and Fragrances. |
| In the West, the market is split equally between flavours and fragrances, but in India, fragrances account for 55 per cent of the total market. While the Indian flavours market is worth Rs 450 crore, the fragrances market stands at Rs 550 crore. |
| The men's fragrance segment has a 32 per cent share in the Rs 550-crore Indian fragrance market. |
| NUGGETS Selections from management journals |
| Drug and medical-product manufacturers tend to trail companies in other industries in measuring and controlling product quality. The result: inefficient processes and huge regulatory fines. Many pharma executives hesitate to change their approach to quality management, claiming that strict regulation makes changes far too costly and complicated. But even in the tightest regulatory markets, a few pharma companies have managed to raise quality significantly and to reduce regulatory risk. The ways these leaders have raised quality and lowered compliance risk include a cultural shift toward manufacturing quality, adding quality measures midstream to manufacturing processes, and simplifying quality- and compliance-management systems. |
| Improving quality in pharma manufacturing By Anil G D'souza, David J Keeling and Richard D Phillips The McKinsey Quarterly, Web exclusive, September 2007 Read the article at www.mckinseyquarterly.com |
| It is estimated that of the $255 billion spent per year on information technology projects in the US, more than a quarter is burned up in failures and cost overruns. Project professionals and management experts have attempted to respond to these failures by improving the formal systems related to program governance, project management and project-related technologies. Though these new approaches have produced improved results, with more than two out of three projects continuing to disappoint, however, the authors argue that something is still missing. They suggest five crucial questions to ask to help prevent project failure "" are we planning around facts, is the project sponsor providing support, are we faithful to the process, are we honestly assessing our progress and risk and are team members pulling their weight. The authors examine the success of the project managers who do engage in these conversations and then lay out a plan for using them in the organisation. |
| How project leaders can overcome the crisis of silence By Joseph Grenny, David Maxfield and Andrew Shimberg MIT Sloan Management Review, Summer 2007 Issue, Volume 48, Number 4 Subscribe to the article at http://sloanreview.mit.edu/ |
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