Good - But good enough?

Albrecht Enders is Professor for Strategy and Innovation at the Institute for Management Development (IMD), and has been involved in the planning and implementation of SEF.Interactive. He believes that the Swiss economy is well-equipped to weather the crisis – but that its vast potential will need to be exploited. Albrecht Enders, how well do you think Switzerland and its economy are doing in this coronavirus crisis? I’m actually very impressed. The cooperation between companies is good, as is the cooperation between companies and the state. The country is small, and people are sticking together and trying to get through this crisis in a very pragmatic way. What positive aspects have you identified? Whether it’s here at IMD, where I’m also on the management board, or at other companies that I’ve looked at – reactions have been and continue to be agile and quick, and not only at top management level; ideas have also come from employees. Moreover, here at IMD we are a completely different organisation today than we were six months ago. At that time, we wouldn’t even have dreamed of programmes that have now become standard! This is a tribute to both the management and the employees, who have contributed many ideas. What about the negative aspects? Switzerland is still very expensive! This becomes an issue in comparison to our foreign competitors, who can work with completely different cost structures, when backs are against the wall. For any organisation that has to produce at local costs – such as IMD – this problem has become even more acute with the crisis. The positive aspect is how companies have changed in terms of speed and innovation. In a case study, you had MBA graduates at IMD develop recommendations for a Swiss company, grinding machine manufacturer Agathon AG in Bellach. What is their most important recommendation? Basically, it was about how to go to the market and communicate with customers. Another important question was how to move beyond current applications into new areas. The fact is that the potential applications for Swiss high-precision technology are much broader than manufacturers imagine. You have to think about who you want to work with in order to find out about these new applications.

“We have to be much more responsive to our costumers’ needs”

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