Fragrance ingredients have life cycles in the hundreds and even thousands of years. The evaluation of these products, processes and alternate raw material sources is a complex and continuous process which, when successful, can lead to competitive advantages that pay dividends for decades. Superior raw material strategies have created the leaders in our industry today.
However, these strategies can be upset by new safety or scientific results as well as by changes in political and social concerns. The rapid changes in the world today present unparalleled threats and opportunities.
I wish to share with you some of the techniques I use to navigate this unstable environment. A realistic understanding of the current and near term future situation can lead to more successful projects as well as helping to orderly exit those areas where one is unlikely to win in the long term. We all hope to find areas in which we can do something much better than others, thereby gaining both the material benefits and the psychological benefits of being a winner. In today’s world, this type of winning benefits us all.