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

Why Germany Still Has So Many Middle-Class Manufacturing Jobs


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Editorial Rating

7

Qualities

  • Overview
  • Background
  • For Beginners

Recommendation

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.

Take-Aways

  • “Hidden Champions” are little-known, midsize companies that count as world leaders in unique or specialized market niches. Almost half the world’s hidden champions are in Germany.
  • Hidden champions make up an important part of Germany’s manufacturing sector and are a major source of jobs that help sustain the nation’s large middle class.
  • Hidden champions have been able to build upon Germany’s strong historic competencies in the fields of mechanics and science.

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


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