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The Swatch Group and Cultural Uniqueness
The Swatch Group (swatchgroup.com) with its headquarters in Biel, Switzerland, is a world renowned
manufacturer of watches and jewelry. The company was founded in 1983 by Lebanese-born Nicolas Hayek
from the merging of Allgemeine Gesellschaft der Schweizerischen Uhrenindustrie and Société Suisse pour
l’Industrie Horlogère. Nicolas’s daughter, Nayla Hayek, has been chair of the board since her father’s death
in 2010. She is also CEO of the luxury jeweler Harry Winston Inc., which was acquired by the Swatch
Group in 2013. Georges Nicolas “Nick” Hayek Jr. has been the CEO and president of the Swatch Group
since 2003. Overall, the Hayek family controls nearly 40 percent of the Swatch Group.
Swatch Group is a diversified multinational holding company active in the manufacturing and sale of
finished watches, jewelry, watch movements, and watch components. It is the world’s largest watchmaking
group. To stay true to its cultural ideals, the company supplies nearly all the components required for the
watches sold by its eighteen individual brands. The Group’s production companies supply movements and
watch components to third-party watchmakers in Switzerland and all around the world. This makes the
Group a key player in the manufacturing of electronic systems used in watchmaking. It is also a leader in
the field of sports event timing.
The company has been built into a large and complex organization in its roughly four decades in
existence. Swatch and its 37 global subsidiaries employ about 37,000 people, and the company’s revenue
is about $9 billion. The company’s headquarters in Biel sits on the language border between French- and
German-speaking parts of Switzerland and is, by design, bilingual and culturally diverse. In fact, everything
that Swatch engages in is based on diversity and culture. This cultural diversity is embedded in its overall
brand and global strategizing. For example, many of the Swatch brands have become cultural icons among
a strong core of customers. Some even talk about the “Swatch Revolution” that began when Nicolas Hayek
founded the company. It was the combination of legendary Swiss watch making and the unexpected
appearance of an affordable plastic watch that turned the watch world upside down.
Suddenly, a watch was more than a way to measure time. It was a new individualized culture, a new
language, and a way to speak from the heart without words. By definition, “swatch” means a sample of
material or color, oftentimes referring to a small piece of fabric. It is remarkable how Swatch has been able
to develop culturally unique watches while also building the fabric for a globally integrated world by its
watch making. The Swatch Group’s brands go far beyond the iconic Swatch watches, though. They also
include top global brands like Blancpain, Breguet, and Omega, along with unique and classic products such
as Balmain, Calvin Klein watches and jewelry, Certina, Flik Flak, Glashütte, Hamilton, Harry Winston,
Jaquet Droz, Léon Hatot, Longines, Mido, Original, Rado, Tissot, Tourbillon, and Union Glashütte. These
brands form the “art” of Swatch – a focus that is almost always emphasized upfront in the company’s annual
report and something the Swatch Group nurtures in various ways.
On Swatch’s Instagram ( instagram.com/swatch ), the storyline is clear. Swatch wants you to create your
own unique way of accessorizing through the use of a Swatch watch. A person can showcase his or her
individualized Swatch use by tagging #MySwatch. The new line of “Skin” watches also helps users “dance
with the unknown,” break down barriers, and make #YourMove with Skin. The product is minimalist in
style, yet unique, stylish, and culturally diverse—much similar to how Swatch has created its cultural
uniqueness for decades in the global marketplace. Swatch’s own description of its brand captures this
cultural uniqueness: “Everyone knows a Swatch when they see one. There’s clearly something that makes
Swatch different from every other watch brand. What is it? The look, the colors, the plastic? The design,
perhaps, or the fact that it’s Swiss made and versatile enough to be worn with almost anything. There are
Swatch watches for people of all ages, and a Swatch for every occasion. But there’s more to Swatch than
market coverage. Swatch is an attitude, an approach to life, a way of seeing. The sight of a Swatch excites
emotion. Wearing one is a way to communicate, to speak without speaking. Heart to heart.”
The Swatch Group is not just about being culturally diverse, or a company marketing products globally to
customers of different cultures. In many respects, the company is actually creating the values, beliefs,
norms, and artifacts that form a globally unique culture worldwide. Swatch’s large-scale production of
watches and jewelry is used to help create individually and culturally based customer uniqueness. These
watches are fashion items and are not simply focused on being timepieces. They are culturally interesting,
different, and unique to each person’s taste and characteristics. Seldom will you run into someone who has
exactly the same Swatch.
المملكة العربية السعودية
وزارة التعليم
الجامعة السعودية اإللكترونية
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
College of Administrative and Financial Sciences
Assignment 3
Introduction to International Business (MGT 321)
Due Date: 02/12/2023 @ 23:59
Course Name: Introduction to International
Business
Course Code: MGT-321
Student’s Name:
Semester: First
CRN:
Student’s ID Number:
Academic Year:2023-24-1st
For Instructor’s Use only
Instructor’s Name:
Students’ Grade:
Marks Obtained/Out of 10
Level of Marks: High/Middle/Low
General Instructions – PLEASE READ THEM CAREFULLY
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The Assignment must be submitted on Blackboard (WORD format only) via allocated
folder.
Assignments submitted through email will not be accepted.
Students are advised to make their work clear and well presented, marks may be reduced
for poor presentation. This includes filling your information on the cover page.
Students must mention question number clearly in their answer.
Late submission will NOT be accepted.
Avoid plagiarism, the work should be in your own words, copying from students or other
resources without proper referencing will result in ZERO marks. No exceptions.
All answered must be typed using Times New Roman (size 12, double-spaced) font. No
pictures containing text will be accepted and will be considered plagiarism).
Submissions without this cover page will NOT be accepted.
Learning Outcomes:
1. Identify and evaluate the significant trade agreements affecting global
commerce
(Lo: 1.1)
2. Analyze the effects of culture, politics and economic systems in the context of
international business
(Lo: 2.1)
3. Identify the major components of international business management (Lo: 2.4)
Critical Thinking
Please read Case 4: “The Swatch Group and Cultural Uniqueness” available in your e-book
(International business: Competing in the global marketplace (13th ed.), at page no.630,
and answer the following questions:
Assignment Question(s):
1. With the Hayek family controlling nearly 40 percent of The Swatch Group, how do
you think the family’s influence impacts the corporate culture in the company?
What about the company’s international culture being impacted by the Hayek
family? Explain.
(Minimum words: 400, Mark:2)
2. Many of the Swatch brands have become cultural icons among a strong core
following of customers in the global marketplace. Some even talk about the
“Swatch Revolution” that began when Nicolas Hayek founded the company. Why
do you think Swatch has such a strong cultural following? Give logic in support of
your answer.
(Minimum words: 400, Mark:2)
3. As mentioned, Swatch wants you to create your own unique way of accessorizing
through its Swatch watch. Is a watch a way to show who a person is culturally?
Does a watch get embedded into a person’s culture? Can a watch create a cultural
image? Discuss.
(Minimum words: 600, Mark:6)
Important Notes:
• This is an individual assignment.
• All references must be cited using APA format. This includes both in-text
citations and the reference list at the end of the document.
• Originality, Similarity and Plagiarism Check: Your work must be original. All
papers will be submitted through SafeAssign software to check for similarity and
plagiarism. Any instance of academic dishonesty will result in a grade of zero for
the assignment. No exceptions and no second chances!
Answers
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