From Jacques David to Nicolas Hayek- Third edition
Chapter 4: Liberalization and globalization (1960–2010)
Liberalization and globalization (1960–2010)
The 1960s appear as a new rupture in the history of the Swiss watch industry, which faced a triple mutation, commercial, organizational and technological. At first, this decade was marked by the establishment of new competitors on the world market (Japan, USA, USSR, France and Germany), whose success was essentially based on the mass production of standardized products, and called into question the dominant position of Switzerland. The necessity to reinforce the competitiveness of Swiss watch enterprises led to the end of the cartel; the watch industry reorganized its structures, characterized by the liberalization of cartel’s constraints and the international expansion of manufacturing. Finally, the last mutation was technological. During this decade the quartz watch was developed, a technical revolution which significantly transformed the watch business, as from then on the issue was no longer the ability to manufacture watches, but rather the ability to sell them.
Figure 12:Swiss watches exports, volume (1,000 pieces), 1960–2000
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