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German Hidden Champions: competitive strategies, knowledge management and innovation in globally leading niche players

Author

Listed:
  • Christian Rammer

    (Centre for European Economic Research (ZEW))

  • Alfred Spielkamp

    (Westphalian University of Applied Sciences)

Abstract

Hidden Champions (HCs) are firms unknown to the wider public, but global leaders in the niche markets they serve. This paper looks at distinctive features of these firms, focusing on competitive strategies, knowledge management and innovation. Employing a unique data base on German firms, we identify a representative sample of German HCs and examine differences to other firms using a matching technique. We find that HCs’ competitive strategy rests on technology leadership and customisation. HCs are more open in their knowledge management, but without compromising control over the new product development process. HCs do not invest more into innovation, but achieve higher innovation success. The higher efficiency can be linked to their superior technological capabilities and to higher investment in human capital and HR management practices that mobilise the creative potential of their employees.

Suggested Citation

  • Christian Rammer & Alfred Spielkamp, 2019. "German Hidden Champions: competitive strategies, knowledge management and innovation in globally leading niche players," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 95(01), pages 65-87.
    • Handle: RePEc:ekz:ekonoz:2019104
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    More about this item

    Keywords

    German Hidden Champions; competitive strategy; knowledge management; innovation; dynamic firm capabilities;
    All these keywords.

    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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