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 CEO 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.
Learning Objective
This note provides a good tool for analyzing the management style and principles of this highly successful entrepreneur.
Keywords
Delegation, Control, Change Management, Watch, Luxury
Available Languages
English
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