Management of Engineering and Technology
Traffic safety -- Technological innovations, Autonomous vehicles, Technology -- Management, DaimlerChrysler -- Management
In today’s global environment the life cycle of products are noticeably shortened. These short life cycles put forth the importance of new ideas that can turn into innovations. It is also a known fact that not every really brilliant idea turns into an innovation. There are numerous reasons for this, including the environment, timing, and budget.
When Nicolas Hayek founded SWATCH, he aimed to form a business had its own style, own way of business, and which was going to be the leader of all innovations in the watch industry. This motivation led to the development of this famous SWATCH Company. Today, SWATCH is known by consumers for its chic and stylish watches. On the other hand, competitors know it as a company which is creating continuous innovations in the watch industry, and a company that is changing the way business is done. However, being successful in one sector and having the capability to create ideas does not mean a company is going to create innovations in another industry. An example of this is seen in Hayek’s second big idea-smart. smart
smart aimed to be an innovative car that would change the nature of the automotive business. It was a product of joint venture formed between SWATCH and famous Mercedes-Benz Car Company. However, there have been many changes in this project since its conception. SWATCH left the joint venture; Daimler-Benz, which was the parent company of Mercedes merged with another famous car company CHRYSLER; and SWATCH experienced big losses since it has been launched. All these aspects make this case a very important one which is worth to be examined from technology management perspective.
Note: The presentation associated with this project is included here as a supplemental file.
Caliskan, Firuze Duygu; Loran, Amanda; Steiner, Frank; Suntharasaj, Patt; and Tarman, Refik Tarcan, "Strategic Issues in Smart Car Implementation" (2006). Engineering and Technology Management Student Projects. 1126.