build the present on the basis of the past
One of the key lessons highlighted by Nassard is the importance of building on previous decisions, noting the need to understand the context in which previous decisions were made. “Learn from them and if they can’t be reapplied, avoid reapplying them in a new environment,” he said. “And if they may be applied again, please accept them humbly. There is nothing wrong with piggybacking on the work of intelligent people.”
When Nasad first joined Swarovski, the company was undergoing a series of fundamental strategic shifts due to the COVID-19 pandemic, leaving the company in a vulnerable position. “When I took over, we faced many challenges,” Nasad said. “In any business, it can make companies and brands vulnerable and sometimes cause chaos within the organization.”
“None of the strategies were fundamentally wrong,” he continued. “Their problem is that they were often unbalanced, a little extreme, and the change from one to the other was itself harmful. So when we devised the LUXignite strategy for 2022, we included We proudly borrowed some of the themes that made a lot of sense.”
“The challenge for LUXignite is to do it on its own terms, because we are not interested in copying anyone in their definition of luxury or how they execute luxury,” Nasad said. Nor is he opposed to building on or borrowing from previous strategies, such as Create Diamonds, a new jewelry collection using lab-grown diamonds.
“I didn’t invent it. It was already part of one of our previous strategies,” he said of Created Diamonds. “What my administration has done is clean it up, codify it and expand it. We’ve added some new concepts that focus on the top cities. This is where culture is created and trends are set. If you want to be culturally influential as a brand, you have to be there.”
Leadership lessons
Although each company he worked for was different, what Nasad learned was how important it is for CEOs to define their businesses. “It may sound trivial, but you’d be surprised how a flawed business definition can lead to value destruction,” he says.
It’s also important to recognize the impact leaders have on those around them, and that the burden of every company decision falls on their shoulders. “I still remember these (first) months vividly,” he recalled of his first day out as CEO at Bata. “You must be aware that everyone is staring at you. Everyone is staring at you, everyone is hanging on your lips, everyone is interpreting everything you do. You have to live as if you were wearing a camera.The expense is up to you.
“What does that mean? It means that all the good things that happen are your credit, even if you are unaware of some of them. And all the bad things that happen are your credit.” So it’s a big burden for a lot of people and we need to be aware of that.
Communication is also key for Nassard, making sure information is clearly communicated multiple times. “Communication is at least a quarter of the job for a CEO,” he said. “Communication with all stakeholders, customers, communities, shareholders, employees, partners. You are a representative of the company and all communication channels should be open.”
“The last thing I want to say is that, as the ancient Romans said, repetition is a virtue. People are exposed to a lot of information from different fields every day. It’s really important to always repeat. When you get bored, repeat, repeat, repeat and make sure everyone understands what you stand for and where you’re going.”
