Aiama Seminar Reinvent to Globalise

8/12/2019 Aiama Seminar Reinvent to Globalise

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Re-invent to Globalize

..

Mr. Arun Nimbalkar, DirectorFFC Group of Companieswww.ffcaromas.com

Presentation to AIAMA

Bangalore, 3rdJune, 2005


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By the mid 80s, it was obvious to my father &

me that we needed to change often or

constantly re-invent ourselves to wrestle with

changes brought about by the forces of

globalization .

.. Without taking our eyes of the HORIZON,

we watched where we stepped ..

This is OUR STORY of the last two decades


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We adopted a HORIZON approach to craft ourstrategy in the changing environment

Profit

Time

HORIZON 1

HORIZON 2

Extend Core

Business

Build Emerging

Businesses

The idea was to develop

businesses in parallel to de

risk in the face of the changing

environment

The Management Challenges

were different

In HORIZON 1 businesses it was a

matter of building a stronger

competitive position

In HORIZON 2 businesses it was a

question of building capabilities

and understanding the new market

dynamics


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We looked into the mirror

Although a very strong player

in fragrance we could foresee

top-line growth under

pressure due to Falling of trade barriers

Rapid commoditization of

fragrances business

Biz increasingly based more on

personal skills then on technology

It became imperative that we

develop a vision for a HORIZON 2

Business

Profit

Time

HORIZON 1

HORIZON 2

Healthy BusinessOf FRAGRANCES

NO BUSINESS

We needed to re-invent ourselves

Horizon approach applied to FFC


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We began the search for opportunities

FRAGRANCEFRAGRANCE

& FRAGRANCE

RAW MATERIAL

We adopted an expansive mindset to

redefine the scope and application of

our biz

We defined our biz to cover entire

gamut of activities of fragrance industry

This gave us access to new markets

Some of our competitors became our

customers

Increased the geographic spread of our

biz


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We began to build momentum

ALL THIS WAS EASILY SAID THEN DONE

WE TOOK A SERIES OF SMALL STEPS

DEVELOPING NEW PROCESSES

INVESTING RESOURSE TO

DEVELOP MANUFACTURING

CAPABILITY

UNDERSTANDING MARKET

UNCERTAINITIES

AND IN THE END, SUCCESS HAS BEEN

OURS


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Nothing is more permanent thenCHANGE itself


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In mid 90s we began the second process ofreinvention

BY mid 90s the Fragrance and

Fragrance Raw Materials

business had become Horizon 1

businesses for us

We adopted an expansive

mindsets once again and arrived

at our HORIZON 2 business

FINE CHEMCIALS building on

our newly acquired skills in thearea of novel process

development

FRAGRANCEFRAGRANCE &

FRAGRANCE

RAW MATERIALS

FINE

CHEMICALS

Managing by horizons is an ongoing

process for us now


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THE success of the RE-INVENTED FFC GROUPtoday is based on three pillars of excellence

TECHNICAL SERVICE

INNOVATION

QUALITY

FFC GROUP

DIVE

RSEMARKETS

EXCELLENT R& DCAPABILITY TO KEEP USAHEAD OF COMPETITION

CAPABILITY TO DEVELOPAND IMPLEMENT

INNOVATIVE ROUTES

ABILITY TOMAINTAIN AND

ADOPT TO THEQUALITY NEEDS OFDIVERSEINDUSTRIES


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supported by an excellent technical serviceteam

TECHNICAL SERVICE

INNOVATION

QUALITY

FFC GROUP

DIVE

RSEMARKETS

OUR PRODUCE FINDSMARKETS IN DIVERSEINDUSTRIES SUCH ASFRAGRANCE, AGRO CHEMICALS,PHARMACEUTICALS ETC

IN COUNTRIES ALL ACROSS

THE GLOBE;

SEIZED THEOPPORTUNITY OF ANEMERGING MARKET INAREA OF PROVIDINGTECHNICAL SERVICES


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Applying the HORIZON approach to AgarbathiIndustry

Current scenario of Indian

Agarbathi industry

Even though growing at healthy

rate still faces tremendous

internal competition

The basic shape and form of the

product has not changed since

ages

Marketed mostly on a devotional

platform, which has limited

growth possibilities

Drastic need to look at HORIZON 2

Businesses

Profit

Time

HORIZON 1

HORIZON 2

BusinessOf FRAGRANCES on

A devotional platform

NO BUSINESS

Horizon approach applied to the

Agarbathi Industry

The industry needs to re-invent itself


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AGARBATHI FRAGRANCE

DISPENSING

Adopting an expansive mindset to

redefine the business as a dispenser of

fragrance

Investing in Product Design to make it

trendy

Technological Innovations to increase the

burning time and reducing the Ash etc.

Image Makeover

The OPPORTUNITY is enormous

Huge Market worldwide competing with the

likes of room freshners, fragrant candles

etc. and maybe even Insect Repellent

AIAMA could play a significant role in

this re invention process


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In summary we have crystallized ourexperience into a series of 5 steps

Look into the mirror using

the horizon approach

Search for opportunitiesusing an expansive mindset

Acquire newer skills

Win through execution

Manage by horizons


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THANK YOU

Aiama Seminar Reinvent to Globalise

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