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Hidden Champions - Aufbruch nach Globalia: Die Erfolgsstrategien unbekannter Weltmarktführer
In Deutschland, Österreich und der Schweiz gibt es mehr als 1.500 Weltmarktführer. Vielfach sind sie der Öffentlichkeit kaum bekannt. Diese Hidden Champions sind bestens gerüstet für Globalia, die veränderte Welt der Zukunft, die auch durch den Aufstieg Chinas und weiterer Schwellenländer geprägt wird. Die unbekannten Weltmarktführer trotzen der Konkurrenz und viele sind aus der Wirtschaftskrise gestärkt hervorgegangen. Ausdauer, Orientierung und Weitblick zeichnen sie aus.
Anhand vieler faszinierender und aktueller Fallbeispiele zeigt Hermann Simon, wie die Hidden Champions zu Weltmarktführern wurden, wie sie auch die Herausforderungen der neuen, globalisierten Welt meistern - und wie Sie diese Erkenntnisse für Ihr Unternehmen nutzen können.
"Die hohe Glaubwürdigkeit und Akzeptanz von Hermann Simon rührt weltweit daher, dass er hieb- und stichfeste Belege in Form einer soliden Datenbasis inklusive fundierter Praxiserfahrung mitbringt." absatzwirtschaft
"Hermann Simon - ganz vorn in der Liga der Vordenker!" Financial Times Deutschland
"Wichtigster lebender Branchen-Guru" Managementdenker.de
741 pages, Kindle Edition
First published January 1, 1996
101 people are currently reading
1715 people want to read
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Displaying 1 - 22 of 22 reviews
June 4, 2021
Good book that introduced a interesting framwork. For sure, there are other perspectives out there but I believe this would be a good one for business classes. I leave my notes below.
https://libraryof.xyz/portfolio/hidde...
Professor Hermann Simon coined the term “hidden champions” almost thirty years ago. The key criterias for a Hidden Champion are: (1) #1-3 on the global market or # 1 on the continent, (2) revenue does not exceed $4bn and (3) the company has a low level of public awareness. There are about 2,700 “hidden champions” around the world and around half of them are German. Nevertheless, they often have global market shares of over 50%.
UNKNOWN TO BROADER MASS. According to Simon, many extremely successful companies escape the attention of those whose business it is to know everything (media), understand everything (scientists) or improve everything (consultants). But within their own industries, they are known, admired or even feared.
NICHE PLAYERS. Hidden Champions often focuses on narrow markets, sometimes a product / market. They sometimes have monopolistic positions, thereby creating effective barriers to entry. It is not easy for other companies to imitate the super niche or market leader. Hidden Champions mostly works with an integrated value chain along with a limited definition of relevant markets.
GLOBALISATION. Because Hidden Champions offers unique products in small niche markets, they are often in great need of going abroad early in the company’s development. Globalization is the dominant driver for growth. Also, the global perspective often shows unplanned opportunities for growth. Globalization is a long-term process that requires perseverance. When a company is established and operates smoothly on a global scale, this situation often appears quite natural, as if it has always been so.
MUST HAVE PRODUCT DIFFERENTIATION. The special status of the product must be sustainable. Copies and establishments of similar products must be prevented at all costs. Various instruments for maintaining the product’s unique position are patent protection, a powerful trademark or logo, intensive relationships and acquaintance with customers and fine design with frequent updates. Hidden Champions are unknown to the public, but the brand often has a strong and unique position with the ecosystem.
GOOD CUSTOMER RELATIONS. Hidden champions have a very close relationship to their most demanding customers. They open up their organization in such a way that many of their employees have direct customer contact. By doing this, they can use their top customers to drive innovation. It’s in tackling the problems of their most demanding customers that they source their next generation of innovations.
INNOVATION. Simon’s case studies show that there is no single driver of growth, but that globalization and innovation are key. A hidden champion will on average spend 6% of its revenue on R&D (ca 2x the average level). That is a long-term mindset. Not only that, but they also produce more patents per thousand people and they do it far cheaper than corporates. This innovation is core to growth because you can only lead the market if you’re willing to invest and keep changing your offering to match customers’ needs.
”SOFT” DIVERSIFICATION. Some diversified companies’ portfolios consist of none or few Hidden Champions. Other companies have many Hidden Champions in their portfolio. To deal with the dilemma super-niche companies are often faced with in terms of growth, “soft” diversification is an option. However, they must strive to maintain their traditional strengths. There is always a danger that the new business will be too distracting and that the core business will be neglected. “Soft” diversification means that the new products stay close to the traditional business (for example, bait to fish products).
ACQUISITIONS. Regarding acquisitions, Simon has some examples in the book (eg Wirtgen, Claas and Leitz) of Hidden Champions that have achieved success with the help of acquisitions. However, this increases the risk that the underlying forces that make the company a Hidden Champion may be lost.
RETAIN TOP TALENT. Most hidden champions do an outstanding job at holding onto their leaders and top employees. The hidden champions’ founding leaders may be no smarter than you and I, but they are more obsessed by their ideas, and their absolute commitment to their mission makes them unbeatable.
https://libraryof.xyz/portfolio/hidde...
Professor Hermann Simon coined the term “hidden champions” almost thirty years ago. The key criterias for a Hidden Champion are: (1) #1-3 on the global market or # 1 on the continent, (2) revenue does not exceed $4bn and (3) the company has a low level of public awareness. There are about 2,700 “hidden champions” around the world and around half of them are German. Nevertheless, they often have global market shares of over 50%.
UNKNOWN TO BROADER MASS. According to Simon, many extremely successful companies escape the attention of those whose business it is to know everything (media), understand everything (scientists) or improve everything (consultants). But within their own industries, they are known, admired or even feared.
NICHE PLAYERS. Hidden Champions often focuses on narrow markets, sometimes a product / market. They sometimes have monopolistic positions, thereby creating effective barriers to entry. It is not easy for other companies to imitate the super niche or market leader. Hidden Champions mostly works with an integrated value chain along with a limited definition of relevant markets.
GLOBALISATION. Because Hidden Champions offers unique products in small niche markets, they are often in great need of going abroad early in the company’s development. Globalization is the dominant driver for growth. Also, the global perspective often shows unplanned opportunities for growth. Globalization is a long-term process that requires perseverance. When a company is established and operates smoothly on a global scale, this situation often appears quite natural, as if it has always been so.
MUST HAVE PRODUCT DIFFERENTIATION. The special status of the product must be sustainable. Copies and establishments of similar products must be prevented at all costs. Various instruments for maintaining the product’s unique position are patent protection, a powerful trademark or logo, intensive relationships and acquaintance with customers and fine design with frequent updates. Hidden Champions are unknown to the public, but the brand often has a strong and unique position with the ecosystem.
GOOD CUSTOMER RELATIONS. Hidden champions have a very close relationship to their most demanding customers. They open up their organization in such a way that many of their employees have direct customer contact. By doing this, they can use their top customers to drive innovation. It’s in tackling the problems of their most demanding customers that they source their next generation of innovations.
INNOVATION. Simon’s case studies show that there is no single driver of growth, but that globalization and innovation are key. A hidden champion will on average spend 6% of its revenue on R&D (ca 2x the average level). That is a long-term mindset. Not only that, but they also produce more patents per thousand people and they do it far cheaper than corporates. This innovation is core to growth because you can only lead the market if you’re willing to invest and keep changing your offering to match customers’ needs.
”SOFT” DIVERSIFICATION. Some diversified companies’ portfolios consist of none or few Hidden Champions. Other companies have many Hidden Champions in their portfolio. To deal with the dilemma super-niche companies are often faced with in terms of growth, “soft” diversification is an option. However, they must strive to maintain their traditional strengths. There is always a danger that the new business will be too distracting and that the core business will be neglected. “Soft” diversification means that the new products stay close to the traditional business (for example, bait to fish products).
ACQUISITIONS. Regarding acquisitions, Simon has some examples in the book (eg Wirtgen, Claas and Leitz) of Hidden Champions that have achieved success with the help of acquisitions. However, this increases the risk that the underlying forces that make the company a Hidden Champion may be lost.
RETAIN TOP TALENT. Most hidden champions do an outstanding job at holding onto their leaders and top employees. The hidden champions’ founding leaders may be no smarter than you and I, but they are more obsessed by their ideas, and their absolute commitment to their mission makes them unbeatable.
February 22, 2016
Gần giống như cuốn sách Từ tốt đến vĩ đại, tác giả tìm kiếm những chiến lược/mô hình/định hướng làm nên thành công của những Công ty dẫn đầu trong các lĩnh vực, thị trường của họ. Tuy nhiên cuốn sách này đã đưa ra được những đánh giá, kết luận một cách rõ ràng, trực diện và mang nhiều thông tin hơn so với cuốn Từ tốt đến vĩ đại.
Với những ai đang xây dựng hoặc lãnh đạo doanh nghiệp vừa và nhỏ, muốn nghiên cứu những chiến lược kinh doanh và phương pháp lãnh đạo dẫn tới thành công thì đây là một cuốn sách nên đọc.
Với những ai đang xây dựng hoặc lãnh đạo doanh nghiệp vừa và nhỏ, muốn nghiên cứu những chiến lược kinh doanh và phương pháp lãnh đạo dẫn tới thành công thì đây là một cuốn sách nên đọc.
November 4, 2010
I couldn't get into this, so I gave it to my husband..
January 3, 2021
My first business book read in 2021. Hidden champions by Professor Hermann Simon. I am always keen on the topics on business and strategy like why are unicorns successful? How do SMEs differ from large firms? What can young entrepreneurs learn from them? In this book, Hermann was attempting to explain Germany’s success as one of the world’s leading export nations and stumbled across these hidden champions.
While I was reading the book, I was thinking about I will recommend the book to my Chinese and Asian family-owned business friends. In the past, there is an old Chinese saying 富不过三代，which means wealth never survives three generations. Many family-owned business owners are trying to find out the solution from consultants, researchers and Fengshui experts. But that is not enough, they need to ask Professor Simon about the secrets of these hidden champions’ success.
On the basis of his research, he has defined seven key characteristics that distinguish successfully hidden champions:
#1 Set extremely ambitious goals
Success always begins with ambitious goals. The Hidden Champions go for growth and market leadership. This is the fuel that drives them forward.
To young entrepreneurs: be very ambitious!
#2 Disciplined focus and depth
Only focus and depth lead to world-class. The Hidden Champions focus on narrow markets and are deep rather than broad. They tend to do things themselves and refrain from outsourcing core competencies.
#3 Think global
The Hidden Champions combine specialization in product and know-how with global selling and marketing. Globalization is the growth booster for them. They serve the target markets through their own subsidiaries. They heavily invest in the markets of the future.
#4 Prioritise innovation
The Hidden Champions are in a phase of massive innovation. Innovation process. The effectiveness of their R&D activities beats that of large companies by a factor of 5. Their innovation processes are fundamentally different. Their innovations are both markets and technology-driven.
#5 Serve the world’s top customers
Closeness to the customer is the greatest strength of the Hidden Champions – even ahead of technology. Their strategies are value-oriented, not price-oriented. The Hidden Champions hold strong competitive positions. Advice and systems integration are new advantages which create higher barriers to entry.
#6 Compete with the best
The Hidden Champions have “more work than heads” and high-performance cultures. Employee qualification is top. Turnover and sickness rates are extremely low.
#7 Retain your top talent
He secret of the success of the Hidden Champions lies in their leaders. They are characterized by total identification with their mission. Their leadership is authoritarian in the principles, but flexible in the details. Continuity is very high. Young CEOs and women play a more important role than in large.
While I was reading the book, I was thinking about I will recommend the book to my Chinese and Asian family-owned business friends. In the past, there is an old Chinese saying 富不过三代，which means wealth never survives three generations. Many family-owned business owners are trying to find out the solution from consultants, researchers and Fengshui experts. But that is not enough, they need to ask Professor Simon about the secrets of these hidden champions’ success.
On the basis of his research, he has defined seven key characteristics that distinguish successfully hidden champions:
#1 Set extremely ambitious goals
Success always begins with ambitious goals. The Hidden Champions go for growth and market leadership. This is the fuel that drives them forward.
To young entrepreneurs: be very ambitious!
#2 Disciplined focus and depth
Only focus and depth lead to world-class. The Hidden Champions focus on narrow markets and are deep rather than broad. They tend to do things themselves and refrain from outsourcing core competencies.
#3 Think global
The Hidden Champions combine specialization in product and know-how with global selling and marketing. Globalization is the growth booster for them. They serve the target markets through their own subsidiaries. They heavily invest in the markets of the future.
#4 Prioritise innovation
The Hidden Champions are in a phase of massive innovation. Innovation process. The effectiveness of their R&D activities beats that of large companies by a factor of 5. Their innovation processes are fundamentally different. Their innovations are both markets and technology-driven.
#5 Serve the world’s top customers
Closeness to the customer is the greatest strength of the Hidden Champions – even ahead of technology. Their strategies are value-oriented, not price-oriented. The Hidden Champions hold strong competitive positions. Advice and systems integration are new advantages which create higher barriers to entry.
#6 Compete with the best
The Hidden Champions have “more work than heads” and high-performance cultures. Employee qualification is top. Turnover and sickness rates are extremely low.
#7 Retain your top talent
He secret of the success of the Hidden Champions lies in their leaders. They are characterized by total identification with their mission. Their leadership is authoritarian in the principles, but flexible in the details. Continuity is very high. Young CEOs and women play a more important role than in large.
October 28, 2024
Estimate 80% of all mid-sized world market leaders come from Germany or Scandinavia.
The lower the executives public profile the more successful their companies are LT.
The fire you want to ignite in others must first burn within you.
Culture = commitment throughout a company to some common objectives and goals.
Average CEO tenure in hidden champions is 20 years.
A key to success is focus.
The hidden champions regard the LT customer relationships as their greatest strength.
Achieving and maintaining world market leadership requires outstanding and continuously innovative performance.
Expenditure on R&D, no. of patents and the proportion of revenue generated by new products can be used to measure a company's capacity for innovation.
The lower the executives public profile the more successful their companies are LT.
The fire you want to ignite in others must first burn within you.
Culture = commitment throughout a company to some common objectives and goals.
Average CEO tenure in hidden champions is 20 years.
A key to success is focus.
The hidden champions regard the LT customer relationships as their greatest strength.
Achieving and maintaining world market leadership requires outstanding and continuously innovative performance.
Expenditure on R&D, no. of patents and the proportion of revenue generated by new products can be used to measure a company's capacity for innovation.
This entire review has been hidden because of spoilers.
June 22, 2019
Such a great title; and very interesting revelations about so many companies that are relatively small and under the radar, and yet command very high market shares in their fields/ niches.
But its a very poorly compiled/ written book.
It's like a boring text book that one gets in school.
Would have been better if there were more in-depth profiles on these companies, instead of jumping from a 2 sentence note on a company to another one.
Please skip the book even though it looks like a very interesting read.
But its a very poorly compiled/ written book.
It's like a boring text book that one gets in school.
Would have been better if there were more in-depth profiles on these companies, instead of jumping from a 2 sentence note on a company to another one.
Please skip the book even though it looks like a very interesting read.
September 1, 2019
This book is a must-read for every owner of a company who tries to position his Family-owned business between existing global giants and speedy start-up.
Hermann Simon established the concept of "hidden champions", the backbone of Germans strong economy, as brand and promotes it worldwide. Especially in China peiole are highly interested to understand the success factors of these world-leaders in special niche positions.
Hermann Simon established the concept of "hidden champions", the backbone of Germans strong economy, as brand and promotes it worldwide. Especially in China peiole are highly interested to understand the success factors of these world-leaders in special niche positions.
November 8, 2018
Turning the non-sexy to sexy
This book is analyzing an often overlooked segment, showing its strengths and potential, and helping highlighting its uniqueness. I couldn’t find any resource that even comes close to this one.
This book is analyzing an often overlooked segment, showing its strengths and potential, and helping highlighting its uniqueness. I couldn’t find any resource that even comes close to this one.
December 3, 2020
I think the most important chapter is the last one which tells in brief the good qualities of mid size German companies. How these qualities are different from present day management fads and how they have helped hidden champions to gain and retain market share.
January 18, 2019
Lessons from the 'Hidden Champions' analyzed in this book could have easily been condensed into a much shorter text.
May 10, 2019
Excellent book on the characteristics of great companies.
March 8, 2020
Shallow rubbish.
Want to read
January 18, 2023@kindle
February 20, 2023
Interesting subject about niche companies that have done really well. Was hoping for some great insights and an interesting read but alas did not get either.
May 13, 2010
Interesting book that is very similar in premise to Good to Great: Why Some Companies Make the Leap... and Others Don't, but focused on usually smaller and mostly European companies. The conclusions are well reasoned and documented and the lessons one can gain from this book are easily discoverable.
My one complaint is that it is not very readable. It is way too dense and repetitive. I found myself skipping paragraphs because the point had already been made and now was being belabored.
It still could be a valuable addition to your business library, but for reference use only.
My one complaint is that it is not very readable. It is way too dense and repetitive. I found myself skipping paragraphs because the point had already been made and now was being belabored.
It still could be a valuable addition to your business library, but for reference use only.
March 19, 2015
Hidden Champions are definitely worth exploring. This book brings about brilliant points and takes into considerations companies operating in super niche markets and being world market leaders in those markets. Something I learnt long time ago and a huge an of ever since.
This book definitely took me a while to finish. It is pretty heavy and the author writes a lot of the point again and makes it pretty slow to read though a lot of the chapters. But reading it in short bursts over a period of time helped the ideas infiltrate my brains so it sticks!
This book definitely took me a while to finish. It is pretty heavy and the author writes a lot of the point again and makes it pretty slow to read though a lot of the chapters. But reading it in short bursts over a period of time helped the ideas infiltrate my brains so it sticks!
March 23, 2010
As someone who is looking to start my own business this was an interesting read. It looks at the strategies, operations, and leadership of some of the world's most successful companies - many of which I was not familiar with. These companies defy many of the rules and principles that large corporations live by and succeed brilliantly. A must read for anyone interested in business management - should probably be read by many top executives today.
December 23, 2018
Nice book which propose an approach to take advantage of structure and experience of brilliant leaders rather than the biggest companies. The book isn't mind-blowing or even extraordinary one, but it in a well-organized way depict profile of hidden champions. Especially in a world full of quick fixes and instant gratifications it could be thought-provoking.
June 12, 2016
Ottimo libro per capire e intraprendere i punti di forza suggeriti da aziende dai nomi per lo più sconosciuti ma padrone del proprio mercato. Focalizzazione, monoproduzione, profondità, vicinanza al cliente, sono alcuni delle qualità che caratterizzano i "campioni nascosti"
January 3, 2013
Excellent. Book. I really enjoyed reading this. I you've read Good to Great, or Small Giants by Bo Burlingham, you'll enjoy this.
June 2, 2016
Worth reading for a small business owner
July 17, 2019
Very insightful. Good read. Some parts of the book can be skimmed though.
Displaying 1 - 22 of 22 reviews