GENEVA, SWITZERLAND. The 115-year-old; Geneva-based colognes and flavor company had posted record sales; regained its increase direction position after the worst downturn in recent history and received industry accolades that are unique by winning two of the very esteemed perfumery honor. These established Firmenich's outstanding creativity and consequetive commercial success.
When the function was taken over by her; she had expected to step into a well-oiled family governing machine. But things didn't go acorrding to the plan. Family members quickly came to her with multiple requests and new ideas on how to change the rules and decision-making processes in the governance system of the family. Her primary aim was to preserve the family unity over time while modernizing and updating its governance to face up to the new industrial challenges the family business would see in the foreseeable future. By summer of 2011; an additional menace was looming. It still had a strong production base in a powerful Swiss franc exposure and Switzerland while the group was really world-wide. How would this affect its future competitiveness? Learning objectives: Managing increase; family business governance; technological direction; competitive strategies.
PUBLICATION DATE: December 31, 2011 PRODUCT #: IMD593-PDF-ENG
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