Summary of Why Germany Still Has So Many Middle-Class Manufacturing Jobs

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Why Germany Still Has So Many Middle-Class Manufacturing Jobs summary

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In a business context, Germany’s so-called “Hidden Champions” are the deep-running still waters that – without making waves – do great things for the German economy. German business consultant and author Hermann Simon explains what makes the country’s hidden champions unique and successful. Other countries, he suggests, may want to create a business environment that encourages the development of these rather obscure, midsize manufacturing companies that specialize in a single product and perfect it to become worldwide leaders in their niche markets. getAbstract recommends Simon’s short piece to company managers and economic policy makers.

In this summary, you will learn

  • What role “Hidden Champions” play in the German economy,
  • How historic circumstances contributed to the success of hidden champions in Germany, and
  • What kind of policies help Germany’s hidden champions to thrive.
 

About the Author

Hermann Simon is a German author and business leader. He is chairman of the strategy and marketing consultancy Simon-Kucher & Partners, and author of Confessions of the Pricing Man

 

Summary

About 25% of all German GDP comes from manufacturing, mainly because of that sector’s “Hidden Champions”: little-known, midsize companies that count as world leaders in unique or specialized market niches. Roughly half of hidden champions worldwide are German. They form the backbone of Germany’s strong manufacturing sector and continue to be a major source of jobs that helps sustain Germany’s large middle class.

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