James Nye
- Published in print:
- 2014
- Published Online:
- October 2014
- ISBN:
- 9780198717256
- eISBN:
- 9780191785986
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198717256.003.0006
- Subject:
- Business and Management, Business History, Knowledge Management
With government sponsorship, Smiths plans the (re)creation of a British watch- and clockmaking industry, building factories in development areas, in Wales and Scotland. Four main business divisions ...
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With government sponsorship, Smiths plans the (re)creation of a British watch- and clockmaking industry, building factories in development areas, in Wales and Scotland. Four main business divisions are created in 1944, but post-war markets for the divisions have different growth rates—aviation grows significantly on the back of post-war defence spending, but the clocks and watches division, despite its social and employment value, cannot generate acceptable returns, and does not enjoy the national support seen in Switzerland. Allan Gordon-Smith dies in 1951, leaving a vacuum, as his son Ralph lacks entrepreneurial flair and leadership skills. Smiths has now expanded to a significant size—there are over thirty group companies, including a nascent medical plastics business. Challenges emerge: new factories are needed, but also new houses to accommodate workers; industrial relations include a more militant element; taxation is still high; foreign competition, with lower labour costs, damages prospectsLess
With government sponsorship, Smiths plans the (re)creation of a British watch- and clockmaking industry, building factories in development areas, in Wales and Scotland. Four main business divisions are created in 1944, but post-war markets for the divisions have different growth rates—aviation grows significantly on the back of post-war defence spending, but the clocks and watches division, despite its social and employment value, cannot generate acceptable returns, and does not enjoy the national support seen in Switzerland. Allan Gordon-Smith dies in 1951, leaving a vacuum, as his son Ralph lacks entrepreneurial flair and leadership skills. Smiths has now expanded to a significant size—there are over thirty group companies, including a nascent medical plastics business. Challenges emerge: new factories are needed, but also new houses to accommodate workers; industrial relations include a more militant element; taxation is still high; foreign competition, with lower labour costs, damages prospects
