7980 
6198Simon’s “Hidden Champion”, a leader in the international market with high export performance, is a successful model in the field of small and medium-sized enterprises. The mechanism of Hidden Champion’s success deserves much academic attention, but scholars pay more attention just on the success factors of Hidden Champion, and put forward factors as globalization, customer orientation, innovation, competitive advantage, employee loyalty, strong leadership, decentralized organization and corporate culture, and institutional environment, while few scholars have studied the growth process and mechanism of Hidden Champion. Existing researches show that the growth process of Hidden Champion has typical characteristics of entrepreneurial enterprises, which are highlighted in their sensitivity to environmental change, risk bearing, initiativeness and innovation. Hidden Champion mainly focuses on a certain market segment, creatively integrates resources, constantly develops new market opportunities, and improves market share, so as to achieve sustainable development. Therefore, it is of great significance to systematically study the growth process and mechanism of Hidden Champion and summarize its development rules and models for the management strategy research from the entrepreneurial perspective. The purpose of this paper is to reveal the research status of Hidden Champion from the entrepreneurial perspective and provide reference for future research on Hidden Champion entrepreneurship. By conducting a review of Hidden Champion on the entrepreneurial perspective, we put forward the concept of Hidden Champion entrepreneurship, sum up the dependent variable of Hidden Champion entrepreneurship, construct the opportunity-resource integration process of Hidden Champion entrepreneurship, and finally build up the research integration model of Hidden Champion entrepreneurship. The result reveals that the dependent variables of Hidden Champion entrepreneurship mainly include market orientation, technology orientation, entrepreneurship orientation, network relationship, human capital, entrepreneurial leadership and environment. From the perspective of opportunity-resource integration, the entrepreneurial process of Hidden Champion is characterized by the double driver of both market and technology, and there are two entrepreneurial processes of opportunity-resource integration driven by market and technology, which complement and balance each other, so as to promote the sustainable competitive advantage of Hidden Champion. We propose future research on the following aspects: (1) Further research on the dependent variables with their connotations, dimensions and measurement scales of Hidden Champion entrepreneurship; (2) Empirical research on the entrepreneurial process of Hidden Champion, especially on the process of opportunity-resource integration of Hidden Champion entrepreneurship; (3) More researches on Hidden Champion entrepreneurship under the Chinese context; (4) More researches on the entrepreneurship strategy of Hidden Champion. This paper proposes to systematically study on the growth process and mechanism of Hidden Champion from the entrepreneurial perspective, and puts forward the concept of Hidden Champion entrepreneurship for the first time. It also constructs the opportunity-resource integration entrepreneurial process model of Hidden Champion driven by both market and technology, which enriches the theoretical research of opportunity-resource integration entrepreneurship. At last, it constructs an integrated model for the further research on Hidden Champion entrepreneurship, and presents new ideas for the strategic research of Hidden Champion.
/ Journals / Foreign Economics & Management
Foreign Economics & Management
LiZengquan, Editor-in-Chief
ZhengChunrong, Vice Executive Editor-in-Chief
YinHuifang HeXiaogang LiuJianguo, Vice Editor-in-Chief
A Review of the Research on Hidden Champion Entrepreneurship and Prospects
Foreign Economics & Management Vol. 42, Issue 11, pp. 20 - 32 (2020) DOI:10.16538/j.cnki.fem.20200904.401
Summary
References
Summary
Cai Li, Yu Haijing, Yang Yaqian，et al. Entrepreneurial theories: A review and prospects [J]. Foreign Economics & Management, 2019, 41(12): 94-111.
[2] Ge Baoshan， Gao Yang， Jiang Dake，et al. A study about opportunity－resource integration exploitation behavior [J]. Science Research Management, 2015, (5): 99-108.
[3] (German) Herman Simon, translated by Zhang Fan, Wu Jun, Liu Huiyu,et al. Hidden Champions: Aufbruch Nach Globalia Die Erfolgsstrategien unbekannter weltmarktfuhrer [M]. Bei jing: China Machine Press, 2015.
[4] Li Qinghua , Li Chunsheng. On hidden champion enterprises: strategic logic, business model and critical success factors [J]. Journal of Southeast University(Philosophy and Social Science), 2008, (6): 40-46.
[5] Li quansheng, Su qin. The relationship of market orientation, iterative innovation and new product development [J]. Chinese Journal Of Management, 2019, (12): 1790-1799.
[6] Lu Xin, Wang Liuxi, Lu Chengfang. The synergy between technology orientation and market orientation strategy [J]. South China Journal of Economics, 2014, (10): 30-44.
[7] Wang Hongyu, Liu Bolong. A literature review of entrepreneurial leadership and prospects [J]. Foreign Economics & Management, 2018, (4): 84-95.
[8] Xu Huilong, Kang Rongping. Hidden Champions: The best companies in the world [J].Management World, 2003,(7): 150-152.
[9] Anderson B S, Kreiser P M, Kuratko D F, et al. Reconceptualizing entrepreneurial orientation[J]. Strategic Management Journal,2015, 36(10): 1579-1596.
[10] Ardito L, Dangelico R M. Firm environmental performance under scrutiny: The role of strategic and organizational orientations[J]. Corporate Social Responsibility and Environmental Management,2018, 25(4): 426-440.
[11] Audretsch D B, Lehmann E E, Schenkenhofer J. Internationalization strategies of hidden champions: Lessons from Germany[J]. Multinational Business Review,2018, 26(1): 2-24.
[12] Barney J B. Is the resource-based “view” a useful perspective for strategic management research? Yes[J]. Academy of Management Review,2001, 26(1): 41-56.
[13] Boso N, Story V M, Cadogan J W. Entrepreneurial orientation, market orientation, network ties, and performance: Study of entrepreneurial firms in a developing economy[J]. Journal of Business Venturing,2013, 28(6): 708-727.
[14] Bourgeois L J. On the measurement of organizational slack[J]. Academy of Management Review,1981, 6(1): 29-39.
[15] Burgelman R A. A process model of internal corporate venturing in the diversified major firm[J]. Administrative Science Quarterly,1983, 28(2): 223-244.
[16] Cetindamar D, Kozanoglu H. Competitiveness of Turkish hidden champions[A]. Technology management for emerging technologies[C]. Vancouver: IEEE, 2012.
[17] Cunningham M T, Spiegel R I. A study in successful exporting[J]. European Journal of Marketing,1971, 5(1): 2-12.
[18] Din F U, Dolles H, Middel R. Strategies for small and medium-sized enterprises to compete successfully on the world market: Cases of Swedish hidden champions[J]. Asian Business & Management,2013, 12(5): 591-612.
[19] Fryges H. Hidden champions—how young and small technology-oriented firms can attain high export-sales ratios[R]. ZEW Discussion Papers 06-45, 2006.
[20] Gao G Y, Zhou K Z, Yim C K B. On what should firms focus in transitional economies? A study of the contingent value of strategic orientations in China[J]. International Journal of Research in Marketing,2007, 24(1): 3-15.
[21] Graves C, Thomas J. Determinants of the internationalization pathways of family firms: An examination of family influence[J]. Family Business Review,2008, 21(2): 151-167.
[22] Grego-Planer D, Glabiszewski W. The role of innovation in the business activity of hidden leaders of the Polish economy[J]. Management,2016, 20(2): 23-34.
[23] Guth W D, Ginsberg A. Guest editor's introduction: Corporate entrepreneurship[J]. Strategic Management Journal,1990, 11: 5-15.
[24] Hitt M A, Ireland R D, Hoskisson R E. Strategic management: Competitiveness and globalization[M]. 5th ed. Cincinnati, OH: Southwestern College Publishing Company, 2003.
[25] Kohli A K, Jaworski B J. Market orientation: The construct, research propositions, and managerial implications[J]. Journal of Marketing,1990, 54(2): 1-18.
[26] Lages L F, Silva G, Styles C. Relationship capabilities, quality, and innovation as determinants of export performance[J]. Journal of International Marketing,2009, 17(4): 47-70.
[27] Lahti A. International trade, entrepreneurship, and monopolistic competition: German hidden champions and global markets[J]. China-USA Business Review,2014, 13(9): 592-613.
[28] Lee S S, Chung Y K. A study on development strategy of Korean hidden champion firm: Focus on SWOT/AHP technique utilizing the competitiveness index[J]. Journal of International Entrepreneurship,2018, 16(4): 547-575.
[29] Lehmann E E, Schenkenhofer J, Wirsching K. Hidden champions and unicorns: A question of the context of human capital investment[J]. Small Business Economics,2019, 52(2): 359-374.
[30] Lukas B A, Tan J J, Hult G T M. Strategic fit in transitional economies: The case of China’s electronics industry[J]. Journal of Management,2001, 27(4): 409-429.
[31] Majocchi A, Bacchiocchi E, Mayrhofer U. Firm size, business experience and export intensity in SMEs: A longitudinal approach to complex relationships[J]. International Business Review,2005, 14(6): 719-738.
[32] McKiernan P, Purg D. Hidden champions in CEE and Turkey[M]. Berlin, Heidelberg: Springer-Verlag, 2013.
[33] Miller D. The correlates of entrepreneurship in three types of firms[J]. Management Science,1983, 29(7): 770-791.
[34] Morgan N A, Kaleka A, Katsikeas C S. Antecedents of export venture performance: A theoretical model and empirical assessment[J]. Journal of Marketing,2004, 68(1): 90-108.
[35] Narver J C, Slater S F. The effect of a market orientation on business profitability[J]. Journal of Marketing,1990, 54(4): 20-35.
[36] Narver J C, Slater S F, MacLachlan D L. Responsive and proactive market orientation and new-product success[J]. Journal of Product Innovation Management,2004, 21(5): 334-347.
[37] Perea Muñoz E, Ripoll-i-Alcon J, Berlanga Silvente V. Hidden champions in Spain: The path to successful business decisions[J]. Revista de Métodos Cuantitativos para la Economía y la Empresa,2017, 24(1): 190-208.
[38] Rant M B, Cerne S K. Becoming a Hidden champion: From selective use of customer intimacy and product leadership to business attractiveness[J]. South East European Journal of Economics and Business,2017, 12(1): 89-103.
[39] Renko M, Carsrud A, Brannback M. The effect of a market orientation, entrepreneurial orientation, and technological capability on innovativeness: A study of young biotechnology ventures in the United States and in Scandinavia[J]. Journal of Small Business Management,2009, 47(3): 331-369.
[40] Renko M, El Tarabishy A, Carsrud A L, et al. Understanding and measuring entrepreneurial leadership style[J]. Journal of Small Business Management,2015, 53(1): 54-74.
[41] Shane S, Venkataraman S. The promise of entrepreneurship as a field of research[J]. Academy of Management Review,2000, 25(1): 217-226.
[42] Simon H. Hidden Champions: Lessons from 500 of the world’s best unknown companies[M]. Boston: Harvard Business School Press, 1996.
[43] Simon H. Hidden Champions of the twenty-first century: The success strategies of unknown world market leaders[M]. New York: Springer, 2009.
[44] Sirmon D G, Hitt M A, Ireland R D. Managing firm resources in dynamic environments to create value: Looking inside the black box[J]. Academy of Management Review,2007, 32(1): 273-292.
[45] Sutherland I, Purg D. Leadership of hidden champions: from vision to communityship[A]. McKiernan P, Purg D. Hidden champions in CEE and Turkey: Carving out a Global Niche[M]. Berlin: Springer-Verlag, 2013.
[46] Timmons J A, Spinelli S. New venture creation: Entrepreneurship for the 21st Century[M]. 8th ed. New York: McGraw-Hill, 2008.
[47] Voudouris I, Lioukas S, Makridakis S, et al. Greek hidden champions: Lessons from small, little-known firms in Greece[J]. European Management Journal,2000, 18(6): 663-674.
[48] Walravens A, Filipović N. Three bivalent performance factors of hidden champions: Ownership, organizational culture and organizational governance[A]. McKiernan P, Purg D. Hidden champions in CEE and Turkey: Carving out a Global Niche[M]. Berlin: Springer-Verlag, 2013.
[49] Zahra S A. International expansion of U.S. manufacturing family businesses: The effect of ownership and involvement[J]. Journal of Business Venturing,2003, 18(4): 495-512.
[50] Zucchella A, Palamara G. Niche strategy and export performance[A]. Advances in international marketing[C]. Bingley: Emerald Group Publishing Limited, 2006.
Cite this article
Ge Baoshan, Wang Zhiguo. A Review of the Research on Hidden Champion Entrepreneurship and Prospects[J]. Foreign Economics & Management, 2020, 42(11): 20-32.
Export Citations as:
For
