Why mid-sized German companies are a leading force in the global economy--and what U.S. business leaders can learn from them

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BONN, Germany, June 10, 2022 /PRNewswire-PRWeb/ -- The volatility and uncertainty of today's global business landscape is here to stay. Now more than ever, it's imperative for business leaders to adopt new strategies that will help them successfully navigate economic turbulence and compete on a global scale.

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PR Newswire

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星期五, 六月 10, 2022

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NEW YORK, MASSACHUSETTS, CHINA, GERMANY, BEIJING

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HERMANN SIMON

摘要

Key Points:

Now more than ever, it's imperative for business leaders to adopt new strategies that will help them successfully navigate economic turbulence and compete on a global scale.
Simon introduced the concept of Hidden Champions more than three decades ago and has adapted these lessons for modern business leaders as conditions have changed over time.
On the one hand, he describes the incredible rise of German Hidden Champions in the wake of globalization.
"The opportunities and lessons mid-sized companies must learn are universal, even in the face of very serious competition from Chinese companies and other transformative forces."

Why mid-sized German companies are a leading force in the global economy--and what U.S. business leaders can learn from them

World-renowned business expert Hermann Simon, Ph.D., shares winning strategies behind the spectacular, enduring success of German "Hidden Champions"

BONN, Germany, June 10, 2022 /PRNewswire-PRWeb/ -- The volatility and uncertainty of today's global business landscape is here to stay. Now more than ever, it's imperative for business leaders to adopt new strategies that will help them successfully navigate economic turbulence and compete on a global scale.

Fortunately, the formula for achieving lasting success may be hiding in plain sight.

According to world-renowned business consultant and pricing expert Hermann Simon, Ph.D., the answer is as simple as looking to "Hidden Champions," successful mid-sized companies with annual revenues under $5 billion that have become world market leaders under the radar. Though there are 3,400 Hidden Champions worldwide, a majority are found in Germany.

Simon introduced the concept of Hidden Champions more than three decades ago and has adapted these lessons for modern business leaders as conditions have changed over time. In his latest volume, "Hidden Champions in the Chinese Century: Ascent and Transformation" (Springer, June 8, 2022), he provides insight into how these companies have quietly dominated the global market and what it means to operate in a new era influenced by the rising economic powerhouse of China.

Simon sees two opposing trends. On the one hand, he describes the incredible rise of German Hidden Champions in the wake of globalization. On the other, he sees a serious threat from Chinese Hidden Champions, which invest more in research and development and grow faster. His conclusion: Western companies must become more Chinese.

With the proven success factors Simon shares, leaders of mid-sized companies in America will learn how to play by the changing rules of achieving market-leading positions—and win.

"If you aspire to become a global market leader within your industry in today's environment, it's important to consider the success of the Hidden Champion," says Dr. Hermann Simon. "The opportunities and lessons mid-sized companies must learn are universal, even in the face of very serious competition from Chinese companies and other transformative forces."

About Hermann Simon
Hermann Simon is the founder and honorary chairman of Simon-Kucher & Partners, the world's leading price consultancy, with almost 2000 employees in 43 offices in 28 countries. Ranked on the Thinkers50 list of the most influential international management thinkers, he is considered the world's foremost authority on pricing strategy. Simon has published over 40 books, translated in 30 languages, including the worldwide bestsellers "Hidden Champions," "Confessions of the Pricing Man," "Price Management" and "True Profit! No Company Ever Went Broke from Turning a Profit," and recently published his autobiography, "Many Worlds, One Life: A Remarkable Journey from Farmhouse to the Global Stage."

Simon studied economics and business administration at the Universities of Cologne and Bonn, where he graduated in economics and earned his Ph.D. in management science. Before founding Simon-Kucher & Partners, Simon was a professor of business administration and marketing at the Universities of Mainz and Bielefeld. During his academic career, he was a visiting professor at Harvard Business School, Stanford University and the Massachusetts Institute of Technology. He is honorary professor at the University of International Business and Economics in Beijing and the Hermann Simon Business School in Shouguang, China, has been named in his honor. For more information, please visit https://www.hermannsimon.com/.

Media Contact

Shelby Janner, Hermann Simon, 1 512.298.4081 Ext: 702, [email protected]

SOURCE Hermann Simon