The evolution of hidden champions as niche entrepreneurs

  • Hidden champions are world-market leaders that emulate a niche strategy. In this research, we illustrate the hidden champions’ key business strategies and their evolution over space (geographical distribution) and time (technological change). While we describe their spatial distribution and argue how complementary institutional arrangements embed niche world-market leaders, our historical roadmap sketches the main milestones of how changes in technology and market structures came into existence. The emergence of niche markets is strongly tied to the evolution of technologies within both supplier and end-user markets. Tracing the evolution of niche markets, we derive three different eras of niche markets and exemplary hidden champions of their time: pre-industrial, industrial, and post-industrial. We rely on a few hidden champions that we present more in detail to illustrate their niche market emergence. Moreover, we investigate inventions and technology revolutions of the hiddenHidden champions are world-market leaders that emulate a niche strategy. In this research, we illustrate the hidden champions’ key business strategies and their evolution over space (geographical distribution) and time (technological change). While we describe their spatial distribution and argue how complementary institutional arrangements embed niche world-market leaders, our historical roadmap sketches the main milestones of how changes in technology and market structures came into existence. The emergence of niche markets is strongly tied to the evolution of technologies within both supplier and end-user markets. Tracing the evolution of niche markets, we derive three different eras of niche markets and exemplary hidden champions of their time: pre-industrial, industrial, and post-industrial. We rely on a few hidden champions that we present more in detail to illustrate their niche market emergence. Moreover, we investigate inventions and technology revolutions of the hidden champions’ main industries. Building on Hermann Simon’s key insights on hidden champions, we analyze how the academic discussion unfolded onwards after his first seminal contributions. We conclude through presenting fields of future research that will help to further evolve studies on hidden champions.show moreshow less

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Metadaten
Author:Erik E. LehmannORCiDGND, Julian Schenkenhofer
Frontdoor URLhttps://opus.bibliothek.uni-augsburg.de/opus4/107823
ISBN:978-1-63828-258-7OPAC
ISSN:1551-3114OPAC
ISSN:1551-3122OPAC
Parent Title (English):Foundations and Trends® in Entrepreneurship
Publisher:Now Publishers
Place of publication:Boston, MA
Type:Article
Language:English
Date of first Publication:2023/07/25
Release Date:2023/09/20
Tag:Economics and Econometrics; Business and International Management
Volume:19
Issue:4
First Page:340
Last Page:446
DOI:https://doi.org/10.1561/0300000108
Institutes:Wirtschaftswissenschaftliche Fakultät
Wirtschaftswissenschaftliche Fakultät / Institut für Betriebswirtschaftslehre
Wirtschaftswissenschaftliche Fakultät / Institut für Betriebswirtschaftslehre / Lehrstuhl für Unternehmensführung und Organisation