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Hidden Champions of Lithuania

In: Hidden Champions in Dynamically Changing Societies

Author

Listed:
  • Erika Vaiginienė

    (Vilnius University)

  • Rasa Paulienė

    (Vilnius University)

  • Laima Urbšienė

    (Vilnius University)

Abstract

Lithuania is going through tremendous economic changes, from an agrarian country to an innovation-driven economy. Current World Bank data demonstrate the growth of high-technology exports, a small proportion of agricultural raw materials exports, and a quite high percentage of exports to high-income economies. Policy makers also demonstrate efforts to improve the business environment in Lithuania, which makes the Lithuanian economy attractive for the development of hidden champions. This chapter reviews the development of the Lithuanian economy in the context related to the success of hidden champions in Lithuania. An analysis of five cases of Lithuanian’s hidden champions reveals the financing and regulatory environment development needs in Lithuania. Also, the chapter highlights the market leadership and competitive advantages of Lithuanian hidden champions and discusses their success stories, learned lessons, and management and leadership development needs. Lithuania’s hidden champions’ case study results demonstrate that sensitivity to customer problems and high appreciation of the employees are of high importance for market leadership success.

Suggested Citation

  • Erika Vaiginienė & Rasa Paulienė & Laima Urbšienė, 2021. "Hidden Champions of Lithuania," Springer Books, in: Alenka Braček Lalić & Danica Purg (ed.), Hidden Champions in Dynamically Changing Societies, edition 1, pages 239-261, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-65451-1_17
    DOI: 10.1007/978-3-030-65451-1_17
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