On a sunny day, you can use a non-digital watch as a compass. Hold your watch with the flat bottom parallel to the ground. Turn it, while keeping it parallel, until the hour hand is pointing in the direction of the sun. If it's morning, you'll find south about halfway between the hour hand and twelve o'clock, clockwise. If it's afternoon, south lies about halfway between the hour hand and twelve o'clock, counterclockwise. Accordingly, north will be on the same line but in the opposite direction. The technique isn't 100 percent accurate, but it will give you enough of an approximation to make some informed choices about which way to go.
Another use for a wristwatch:
You can use your wristwatch as a pack / container. Remove the inside mechanisms, take off the face, pull out the gears and fill the empty space with survival tools. Stuff it with items like wire, foil, dental floss and a paper clip (for a fishing line and hook), a magnet, aspirin, match heads or anything else of survival value that can fit into a small space.