Jean-Pierre Jeannet Thierry Volery Heiko Bergmann Cornelia Amstutz Masterpieces of Swiss Entrepreneurship Swiss SMEs Competing in Global Markets Masterpieces of Swiss Entrepreneurship Jean-Pierre Jeannet • Thierry Volery • Heiko Bergmann • Cornelia Amstutz Masterpieces of Swiss Entrepreneurship Swiss SMEs Competing in Global Markets Jean-Pierre Jeannet Thierry Volery IMD Department General Management International Institute for Management ZHAW School of Management and Law Lausanne, Vaud, Switzerland Winterthur, Zürich, Switzerland Heiko Bergmann Cornelia Amstutz KMU-HSG University of Lucerne University of St. Gallen Lucerne, Switzerland St. Gallen, Switzerland ISBN 978-3-030-65286-9 ISBN 978-3-030-65287-6 (eBook) https://doi.org/10.1007/978-3-030-65287-6 # The Editor(s) (if applicable) and The Author(s) 2021, This book is an open access publication. 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The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland Foreword Masterpieces of Swiss Entrepreneurship You are holding a very special book in your hands, a singularly unique treasure for entrepreneurs. Never before was there such a concentration of practical learning based upon entrepreneurial practices. Exciting background information on 36 small and medium-sized (SME) companies across all of Switzerland focused on the central question why, and how, these SMEs managed to survive for such a long time, and to be successful at the same time. I have had the pleasure of meeting Prof. Jeannet, the project leader and lead author for this book, on several occasions over the past 20 years, and could experi- ence his exceptional talent. Whether at his institutional homes, Babson College in the USA, at IMD Institute in Lausanne, or at the Swiss Economic Forum, we were both fascinated by and shared a common interest in entrepreneurship. To combine the conceptional with practical experience was always his passion and his very personal USP. He managed to engage a team of coauthors who obviously shared the same interests. Together they recruited a group of talented researchers to assist, and to energize them to engage in a field-based project to extract so far little known findings. These findings are now offered by the team as conceptualized experience with great value added. The firms selected for inclusion in this book have withstood the test of time. They have adjusted successfully to changed economic circumstances and on numerous occasions had to overcome crises in their markets. The selection of companies covers all of Switzerland and represents the most important industry sectors. The established firms have existed for decades; the oldest one can look back on almost 190 years of uninterrupted industrial activity. By focusing on export-oriented manufacturers, the book captures companies with high value added. These companies are major contributors to the exceptionally high export contribution of 66% to Switzerland’s domestic economy and represent major pillars of its economy. Why do I recommend Masterpieces of Swiss Entrepreneurship to my best business friends? The high degree of practice orientation makes the difference for me. Thanks to the personal interviews of many owners and managers of the v vi Foreword companies featured, the authors managed to add deep insights to their collected data and in-depth analyses. Based upon my own experience personally visiting some 1500 SMEs and startup companies in Switzerland, I can assure you that this book with its findings and insights will make equally valuable reading for young entrepreneurs starting out as well as for seasoned professional managers. Experi- enced decision makers, be they managers or advisors, will also profit from the insights offered. Let yourself become fascinated and inspired by the very different pathways to success and strategies that have stood the test of time. Masterpieces of Entrepreneur- ship will allow you to approach your daily challenges with more serenity and thus more effectively master them. I can guarantee you an interesting read with a multitude of entrepreneurially relevant treasures! Extending entrepreneurial greetings to all. Swiss Entrepreneurs Foundation Peter Stähli Bern, Switzerland Foreword Masterpieces of Swiss Entrepreneurship “Masterpieces” is especially interesting and important to me as an entrepreneur and educator. In my professional life at the intersection of enterprise creation and management in both private and public companies, and as a professor and College President, I often seek the wisdom of fellow entrepreneurs and executives, attempting to translate their experiences into lessons that might help me become better at my professions. This book eloquently captures that process. It not only details the company stories to provide important and actionable learning, it also combines the stories into a tapestry of entrepreneurship education akin to a highly condensed curriculum that can be reviewed time and again. I have never read a more sophisticated analysis of entrepreneurial dynamics. In a rapidly changing environment, the ability of the entrepreneur to adroitly manage is essential. The authors apply rigorous scholarship that mines the professional wisdom of companies, entrepreneurs, and managers. The richly woven lessons articulate the path to success and lasting value creation. The practices and lessons derived from their stories, based upon rigorous field research into 36 company profiles, become accessible lessons for entrepreneurs to understand and to apply to their enterprises. The stories of struggle, of understandings, and of success are made into intellectual capital that stands the test of time. It is clear to me that SMEs will gain valuable insights, but there is much wisdom for the larger firm as well. “Masterpieces” makes these lessons real and interesting through the many won- derful stories around company leaders. Rigor of sophisticated scholarship combined with the power of personal experiences is the essence of the “entrepreneurial thought and action” paradigm we foster at Babson College. Indeed, “Masterpieces” will motivate the reader to think more deeply and act more decisively. While this is a study in the context of the magnificent Swiss economic ecosystem, I believe it applies to a broader set of communities. The authors have studied the entrepreneurial practices of a carefully chosen set of companies that represent the growth and development of high margin industries over the long run. The durability vii viii Foreword of the entrepreneurial behaviors described in this book adds great value to the learnings. Entrepreneurs, executives, scholars, policy makers, and educators all need to read Masterpieces of Swiss Entrepreneurship. Babson College Stephen Spinelli Babson Park, MA, USA Acknowledgments Given the scope of this project, a team of four could not have undertaken and completed it within a reasonable time frame without significant assistance and support from a large number of individuals and institutions. First and foremost, the research project leading to the publication of this book hinged on the generous and active support of the 36 SMEs whose owners and managers agreed to participate and be interviewed. They generously shared their valuable time and insights allowing us to move beyond published information. We also benefited from their willingness to have material checked and published, and to make company visuals available to enhance the understanding of the company profiles. We are most grateful for their generosity, which made it possible that the resulting publication could be relevant to the continued success of other SMEs operating in Switzerland, and beyond. We owe an enormous debt of gratitude to the institutions and foundations which supported this project financially and thus paved the way for having it presented in the form of a printed book. The Göhner Foundation took the lead and helped us