The latest Harvard Business School case study report explains how Lange has become an international watchmaking company and how it has continued to expand in a highly competitive environment. Stefan Thomke, a professor of business administration at Harvard Business School and an authority on innovation management, and Daniela Beyersdorfer, deputy director of the Paris European Studies Center at Harvard Business School, conducted research from 2016 to 2017.
The two visited the watch factory in Glashütte, took part in training courses at Lange Academy, and interviewed the company’s founder Walter Lange (殁), Wilhelm Schmid, president of Lange, and other management members , Movement designers, watchmakers and retouching craftsmen.
Ferdinand Adolph Lange founded the watch factory in the 19th century. With the insistence on quality and the spirit of seeking innovation, the development of the watch factory has been steadily rising. However, the German division forced Lange to interrupt its business for forty years, and the brand re-launched after the reunification of Germany and Germany. The values that have remained unchanged for many years made the company reach another peak after 1990. In addition, Lange promotes a culture of innovation while striving for sustainable development.
Langer President Wilhelm Schmid, together with Rohit Deshpande, a professor of marketing at Harvard Business School, published a case study on April 26, 2017.
Thomke concluded in a 25-page report: ‘The case study is for a company with a tradition of excellence in production quality, innovation, and brand image. Its products are among the top in the watchmaking industry.’
Wilhelm Schmid, who became the company’s president in 2011, is determined to continue the brand quality and reputation while maintaining business growth and revenue. He said: ‘There are many ways to improve profitability, but the quality level in each field must be stable. We must not compromise on precision and surface finish quality.’ Wilhelm Schmid on April 26, 2017, As a guest speaker at Harvard Business School in Boston, he shares his business model with entrepreneurs and executives around the world.