Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 15.03.2007
Length: 12 pages
Data source: Published sources
Abstract
This is a German version. This note gives an example of long-term, big-picture business leadership: that of Nicolas G Hayek Sr. Not only did he re-make his company; he strongly influenced an entire industry. At age 57, Hayek invested a substantial part of his wealth to buy into SMH, the merged company that later became the Swatch Group. The initial success of the Swatch watch saved the Swiss watch industry and set the foundation for the success of the Swatch Group. This note gives an outline of the strategic moves as well as Hayek's management style and management principles. The authors describe how this charismatic chief executive officer saw new business opportunities and backed up his high ambition with drive and courage. Interestingly, Hayek was able to maintain the momentum for almost two decades.
Location:
Industry:
Size:
20,000 employees
Other setting(s):
1980-2006
About
Abstract
This is a German version. This note gives an example of long-term, big-picture business leadership: that of Nicolas G Hayek Sr. Not only did he re-make his company; he strongly influenced an entire industry. At age 57, Hayek invested a substantial part of his wealth to buy into SMH, the merged company that later became the Swatch Group. The initial success of the Swatch watch saved the Swiss watch industry and set the foundation for the success of the Swatch Group. This note gives an outline of the strategic moves as well as Hayek's management style and management principles. The authors describe how this charismatic chief executive officer saw new business opportunities and backed up his high ambition with drive and courage. Interestingly, Hayek was able to maintain the momentum for almost two decades.
Settings
Location:
Industry:
Size:
20,000 employees
Other setting(s):
1980-2006