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Some examples of companies that have successfully implemented the practices outlined in the Victorinox Swiss Army case include Lego and Apple. Lego, like Victorinox, faced a significant challenge in the early 2000s but instead of cutting costs, they invested in innovation and expanded into new markets such as movies and video games. Apple, on the other hand, has consistently invested in product development and innovation, leading to the creation of new product categories like the iPhone and iPad.
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What’s the difference between leaders who only achieve short-term success and visionaries who create resilient and truly competitive organizations? Re...
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After 9/11, Victorinox Swiss Army knives were banned from carry-on luggage, presenting an existential challenge to a company where knives accounted for 95% of sales. Instead of extreme cost-cutting and layoffs, they doubled down on product development to inspire their team to leverage the brand in new markets. Today, knives account for only 35% of sales. The company has doubled its revenues by venturing into travel gear, watches, etc. As its CEO Carl Elsener says, "We do not think in quarters. We think in generations".
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