Strategic tools for the practising manager

KIT

THIS WEEK: INDIAN ART JEWELLERY MARKET

Art jewellery essentially refers to high-end imitation or gold- and silver-plated jewellery. It includes works with "American diamond" (zircons), pearls and semi-precious stones as well as traditional settings such as kundan, thappa and ras rawa.

The art jewellery market in India is estimated at Rs 570 crore for the top 15 cities. The markets in Delhi, Mumbai, Ahmedabad, Pune and Ludhiana alone account for Rs 266 crore.

The volume of art jewellery in India is estimated at 1.9 million pieces and the market is growing at 13.5 per cent a year.

The demand for art jewellery is highest in the 26-30 year age bracket (39 per cent). Art jewellery is also more popular among married women (74 per cent).

"American diamond" and kundan jewellery contribute the largest share of both value and volume market (73 per cent), followed by pearl settings (13 per cent) and high-end imitation jewellery (11 per cent).

American diamond and kundan jewellery together account for nearly 60 per cent of the SEC A2 market, compared to a 54 per cent share of the SEC A1 market.

The least popular type of jewellery in metros is ras rawa, while thappa work has the lowest share in non-metro markets.  (Report by Technopak Advisors)

Selections from management journals
NUGGETS

Successful team performance depends on many things: how the team responds to time pressure, optimises the use of scarce resources and deals with gaps in its knowledge.

Every team has to learn something before it can complete its task, whether operating within its own realm of experience or dealing with complex tasks that involve a steep learning curve.

This paper looks at how teams address that learning curve, and lays the groundwork for a new line of research into team learning.

Lessons learned and lessons lost: A multi-method field study of vicarious team learning behaviour and performance
By Henrik Bresman
Insead Knowledge,
November 2006

Read this article at http://knowledge.insead.edu

For years, consumer goods companies have excelled at product innovation. Recently, however, their tried-and-true processes for choosing ideas, selecting business models and making investment decisions have become orthodoxies that hinder the adoption of novel, tailored and flexible ideas.

Four orthodoxies are particularly ingrained in the consumer goods industry: innovation starts with existing business models and categories, focus groups are at the heart of efforts to generate insights, it's best to rely first on internal resources, and companies should "let a thousand flowers bloom".

Companies must free themselves from these orthodoxies "" a tricky task for large, complex and global organisations, but one that will pay off in spades.

Reinventing innovation at consumer goods companies
The McKinsey Quarterly,
Web exclusive, November 2006

Subscribe to this article at www.mckinseyquarterly.com