Misplaced Pages

#754245

52-513: The first English book about the subject was Hermann Simon's Hidden champions: lessons from 500 of the world's best unknown companies . The book explores how Germany was able to consistently be (at the time) the number one exporter in the world . While Germany has global corporations like Volkswagen , Siemens , BASF and Bosch , these organisations are not substantially different from organisations like Ford , GE , DuPont or Visteon . Simon postulates that Germany's strong exports are supported by

104-462: A focus on empirical and quantitative methods and their interdisciplinary application in the economic and social sciences. The University of Mannheim is located in the city center of Mannheim. It consists of Campus East , reaching from Mannheim Palace to Mannheim Main Station, and Campus West , consisting of the squares A5 and B6 which are in walking distance to the palace. Around 800 meters southwest of

156-419: A large number of midsize firms. These smaller companies are normally known only in their market by their customers and suppliers, and are relatively unknown to the wider public. When these companies are very successful on the international markets they are hidden champions. Simon conducted detailed research on 500 such companies and established a framework to describe them. The framework was also able to identify

208-528: A lot of business is local, it can be a goal to become the number one on such a local market. Also large companies may find some interesting lessons about international management. Hidden champions teach that exceptional management means doing small things better than the competitors instead of managing only one great thing. Simplicity in processes and organizational structures is another lesson. Investors may find determined, clearly focused, continuously successful companies. The idea and adaptation of hidden champions

260-502: A scholarship system of its own consisting of various types of scholarships serving different needs. The University of Mannheim has been featured in various international college and university rankings . In the 2024 edition of the QS World University Rankings , it was placed at the 454th position globally and ranked 24th in the national context. Concurrently, in the 2024 Times Higher Education World University Rankings ,

312-470: A sports scholarship for top-athletes at the university. In 2017, 55 students were funded, e.g., Lisa Hattemer (Artistic Cycling UCI World Champion 2016), Alexandra Burghardt ( World Relay Champion 2017), Sarah Brüßler (U23 Kayak Vice World Champion 2017), Cécile Pieper (Indoor Hockey World Champion 2018) and Malaika Mihambo (Long Jump World Champion 2019) Each year the University of Mannheim hosts

364-401: A strong need to work abroad early in their company's development. Hidden champions also operate extremely close to their customers, and their customers' needs are an important driver for their innovations. On the other hand, customers of hidden champions depend on their products and they cannot easily change their source. This often makes for a high level of co-dependence between the producer and

416-621: A strong standing at the Handelshochschule . In 1908, it was the first college of higher education in Germany to employ a female professor; one quarter of all students were female. In 1933, the Handelshochschule was merged into the University of Heidelberg by the Nazi municipal administration. Otto Selz , a German philosopher and psychologist with a Jewish background, who had been a professor at

468-464: Is located in the city center of Mannheim and its main campus is in the Mannheim Palace . In the academic year 2020/2021 the university had 11,640 full-time students, 1600 academic staff, with 194 professors, and a total income of around €121 million. It is organized into five schools and two graduate colleges. The University of Mannheim has no clear foundation date. Its history can be dated back to

520-645: Is ranked 14th in Europe by the FT. The university's business school is ranked 1st in Germany by the Eduniversal ranking and 34th worldwide. In the 2017/2018 academic year there were 12,000 full-time students, of which approximately 15% came from abroad (718 exchange students and 1,126 international full-time students). 110 nationalities are represented in the UMA student body. In 2018, there were about 50 active student organizations at

572-463: Is representing the interests of the UMA students. The UMA offers undergraduate and graduate programs as well as Ph.D. degrees within business administration , economics, law, social sciences , humanities , mathematics, computer science and information systems . Many of the study programs combine non-economic subjects such as literature and cultural studies, law, mathematics and informatics with business studies and economics. As of 2016, Mannheim

SECTION 10

#1732894044755

624-411: Is the biggest German innovation and entrepreneurship conference solely organized by students. The university offers courses in 82 different athletic disciplines. For students most of the courses are free of charge. The sports programme includes ball sports, body fitness, self-defence and martial arts, outdoor sports, yoga, dance courses, water sports and E-Sports. The University of Mannheim also offers

676-503: The Association to Advance Collegiate Schools of Business . In 2008, the rectorate passed a reform to strengthen the core disciplines of the University of Mannheim, that is the economic and social sciences. This transformation, which started in 2002 with the closure of certain departments and the fusion of formerly independent faculties, did not go without protests. In September 2006, around 1,000 students and professors demonstrated against

728-796: The Deutsche Bundesbank ; Hans-Peter Wild , CEO of Rudolf Wild & Co. ; Bruno Sälzer , CEO of Hugo Boss , CEO of Escada , Gitanas Nausėda , economist and President of Lithuania ; Alumni and faculty in the field of economics include; the President of the Ifo Institute for Economic Research Hans-Werner Sinn , the President of the ZEW Clemens Fuest , the President of the RWI Essen Christoph M. Schmidt , economists Axel Dreher , Isabel Schnabel and Horst Siebert , as well as

780-577: The Fachschaften (student councils) of the different faculties. The tradition of conducting parties on the Schneckenhof dates back to the early 1970s. The first party was organized by the Norwegian students at the University of Mannheim, who were the largest group of international students until the late 1980s. The Norweger Parties (Norwegian Parties) still exist today. Normally, the event takes place during

832-515: The Handelshochschule since 1923 and its rector in 1929/30, was discharged on 6 April 1933 – following the Badischen Judenerlass administered by NSDAP politician Robert Heinrich Wagner , a waiver designed to ban Jewish academics from German universities. In 1943, Selz was executed in Auschwitz concentration camp ; only 3 of the 14 Jewish docents at Mannheim's Handelshochschule survived

884-501: The Holocaust . With the transfer of all institutes, inventory and staff to Heidelberg University the merging process was completed, the "Jews released" and the Handelshochschule closed. From December 1940 until the end of World War II , Mannheim was heavily bombed and saw more than 150 air raids. The largest raid on Mannheim took place on 5–6 September 1943 when a major part of the city was destroyed. In May 1945, only around 30 percent of

936-623: The Mannheim Schneckenhof . The University of Mannheim is organized into five schools ( Fakultäten ): And two Graduate Colleges: The University of Mannheim is administered by the Rectorate , which comprises the Rector (President), three Pro-Rectors (Vice Presidents) and the Chancellor , who is also head of the central administration. The main task of the rectorate as executive body is to implement

988-547: The Schlossfest (Palace Festival), a festival at which the Mannheim Palace campus is open to visitors and introduces the university to incoming freshmen. During the Schlossfest several arts, science and music events take place. The science events include live experiments and academic speeches regarding specific subjects, while the arts events include art exhibitions, workshops, dance acts, museum guides as well as guides through

1040-487: The Städtische Handelshochschule Mannheim (Municipal Commercial College) was founded on the initiative of Mannheim's senior mayor Otto Beck (1846–1908) and the economics professor Eberhard Gothein (1853–1923) as a college for future merchants. It conducted teaching and research in business administration, economics, pedagogy , psychology, law, languages and the humanities. From the beginning, women had

1092-706: The refrain of the song "Meine Stadt" by the Söhne Mannheims : " Meine Stadt holt ihren Mann Heim, Ganz egal wo er auch ist. Diesen Reim schickt ihr der Mann Heim, der sie so oft vermisst. " Alumni and faculty of the University of Mannheim include many founders and businessmen as well as a large number of economists, philosophers, jurisprudents and social scientists. In business, Mannheim alumni and faculty notably include; Stefan Lippe , CEO of Swiss Re ; Claus E. Heinrich , board member of SAP ; Henning Kagermann , former CEO of SAP; Claus Wellenreuther , co-founder of SAP; Jens Weidmann , economist and President of

SECTION 20

#1732894044755

1144-744: The Business School was the first German institution to receive the "Triple Crown", that is accreditations by the world's three largest business school accreditation associations AMBA (UK), AACSB International (USA) und EQUIS (Belgium). In the German CHE University Ranking 2017/2018, the psychology as well as the Romance languages department were ranked highest in Germany, receiving more top scores than any other institution of their discipline nationwide. The university's Master in Management

1196-705: The MBS also belongs to the Top 20 business schools in Europe and Top 60 in the world. From 2007 until 2017, the University of Mannheim was funded by the " Excellence Initiative " of the Federal Ministry of Education and Research and the German Research Foundation . Under this initiative, the University of Mannheim established the Graduate School of Economic and Social Sciences (GESS) which offers Ph.D. programmes with

1248-559: The Student Consultancy INTEGRA as well as initiatives focusing on community life, from helping deprived school children in Mannheim to welcoming refugees or incoming exchange students at the university. The official organization of former students of the University of Mannheim is ABSOLVENTUM Mannheim, which was founded in 1995. The Mannheim Forum is an economic congress organized by students. Founded in 2016, Q-Summit

1300-968: The Study and Conference Center of the Mannheim Business School behind the palace's West Wing. Contemporary campus landmarks include the Mannheim Jesuit Church , the Mannheim Observatory , the original Antikensammlung within the Mannheim Palace , the Anna Hoelzel Memorial, the Mannheim Palace Church , the Centre for European Economic Research , the Palais Bretzenheim , the Landgericht Mannheim (district court) and

1352-461: The University of Mannheim expanded its faculty number to eight by adding the faculties of Economics, Geography and Political Sciences and by splitting the faculties of Business Administration and Social Sciences as well as Philosophy-Philological Sciences. The emphasis at the University of Mannheim has always remained on business and economics, although teaching was broadened to further disciplines. In 2000, its Business School received accreditation by

1404-560: The University of Mannheim. Among them are groups of different NGOs, such as the Amnesty International Student Initiative 1388 Mannheim, the UNICEF Student Initiative Mannheim, Model United Nations Mannheim or Enactus Mannheim, several departments of European and global student organizations, such as AEGEE Mannheim or AIESEC Mannheim, business or economics related student groups such as

1456-562: The academic summer at the Schneckenhof and is organized and hosted by Norwegian exchange students or Mannheim students with Norwegian background, in conjunction with international UMA societies. During the event the Schneckenhof is decorated in Norwegian themes and offers traditional beverages and food from Norway. Another famous party is the "BWLer Fete" hosted by the Fachschaft BWL (Student Council of Business Administration) once each academic term. Each party usually ends at around 1am with

1508-480: The building stock was left. In 1944, the Mannheim Palace was almost entirely destroyed, leaving only one room undamaged out of over 500; only its external walls survived. In 1946, the Handelshochschule was reopened under its new name Staatliche Wirtschaftshochschule Mannheim (State College for Economics) with a student body of 586 students in the first year. In 1955, the Wirtschafshochschule moved into

1560-427: The company, are focused on their products, and stay for a long time, much longer than is normal in large public corporations. A serious problem for hidden champions, as it is for SMEs in general, is to attract international professionals. Hidden champions need people who are happy to live in a remote location, who are attracted by job content, and who do not care much for a formal and prescribed career path. In Germany

1612-455: The concept of hidden champion is known to some extent, and therefore hidden champions there are able to utilise this label to recruit staff. In 2011, the first "Hidden Champions Day" was organized by the student initiative bdvb e.V. at the University of Mannheim in order to promote the advantages and opportunities of working for a SME . Hidden champions provide a best practice example. While

Hidden champions - Misplaced Pages Continue

1664-540: The cross-border sale or supply of services by residents of one country to residents of another country. Some countries have significantly high export figures relative to their economy's size (i.e. Netherlands, Singapore and UAE) due to their high amount of re-exports . University of Mannheim The University of Mannheim (German: Universität Mannheim ), abbreviated UMA , is a public research university in Mannheim , Baden-Württemberg, Germany. Founded in 1967,

1716-411: The current account of their countries, and are more successful than the average. The idea of market leadership means more than counting market share. Leaders as employees need an "inner flame" to become, and to remain, the number one. Hidden champions normally work in niche markets . For these markets they design unique products, which are produced with a high real net output ratio . They have to accept

1768-484: The customer, a result of the one product risk. A lot of the hidden champions established their main product as an innovation and were able to keep this single position in the market, or were at least able to keep a leading position. Their markets are mostly oligopolistic with intense competition. Competitive advantages of hidden champions are rarely because of cost leadership , more because of quality, total cost of ownership , high performance, and consultation close to

1820-547: The customer. They "earn" their market leadership through performance and not through price aggression. Their high real net output ratio is often achieved by working with proprietary processes which make it hard for competitors to imitate their products. On the other hand, management tasks like finance are often outsourced. It also seems to be evident that to maintain market leadership hidden champions do business on their own, rather than depend on working in cooperation with others. Even sales in countries abroad are often organized from

1872-620: The establishment of one of its predecessor institutions – the Kurpfälzische Akademie der Wissenschaften (Palatine Academy of Sciences) in Mannheim Palace, which was founded by Elector Carl Theodor in 1763. Further predecessors are the Municipal Commercial College Mannheim (1907–1933) which was reopened in 1946 as the State College for Economics Mannheim and renamed University of Mannheim in 1967. In 1907,

1924-512: The institution received a global ranking of 187 and a national rank of 18. In the QS Social Sciences & Management ranking of 2023, the university was globally ranked at 122nd, while being 4th nationally. The Times Higher Education 2023 rankings for Business and Economics placed the institution 41st globally and 2nd nationally. Moreover, in the 2023 rankings for Business & Management Studies and Economics & Econometrics, QS placed

1976-432: The main campus. With the €53 million raised, the university renovated 24 lecture halls, the palace facade and built a new library inside the palace. In 2007, a palace museum was opened in the central part of the building displaying the reconstructed historical halls and rooms of Elector Carl Theodor , who resided there from 1742 until 1777. In 2017, the university opened a new research and teaching building on square B6 and

2028-550: The main differences and traits common to hidden champions. With this framework in hand it was found that there are hidden champions everywhere around the world, but they are most frequently found in German-speaking countries. Most of the hidden champions produce inconspicuous products. In the market for these products they are the top producer in the world. Often, but not always, these companies are family owned. They export most of their products, and so contribute significantly to

2080-410: The old, non-public areas within the Mannheim Palace. In 2016, the Schlossfest counted about 20,000 visitors. Besides the Schlossfest the University has a long-established tradition of weekly Schneckenhof parties that usually take place Thursdays on UMA's quadrangle "the Schneckenhof" during the summer terms and in UMA's catacombs during the winter terms. The parties are regularly organized by

2132-493: The parent company base. This keeps significant know-how inside, and helps recruit highly qualified staff at a small company. The corporate culture of hidden champions is distinctive. Their values are conservative: hard work, strict selection, intolerance of underperformance, low sickness rates and high employee loyalty –and most are based in smaller towns. Leadership style is authoritarian on strategic issues but participative on operations level. The leaders identify themselves with

Hidden champions - Misplaced Pages Continue

2184-591: The plans. Two years later, a compromise was found and the reform passed the Senate as well as the University Council without votes against. In the wake of it, the number of schools decreased to five. In 2005, the Mannheim Business School (MBS) was founded. It offers MBA programmes for executive education. In 2018, it was ranked #1 in Germany in the international MBA Rankings by Businessweek , Financial Times , Forbes and The Economist . According to these rankings,

2236-476: The rebuilt East Wing of Mannheim Palace. In the same year, the seal, which is still in use today, was created. It depicts the Mannheim Palace on top and the square-based outlay of Mannheim's downtown below; surrounded by In Omnibus Veritas , the university's official motto in a shortened version, which is based on a line in the constitution of Carl Theodor's Palatine Academy of Sciences: In Omnibus Veritas Suprema Lex Esto , translated as "Truth in everything should be

2288-400: The risk of being a single product manufacturer. They divide between "good" and "bad" market share. The good is earned by performance and a solid foundation, the bad from price aggression and discounting. One result of working with unique products in niche markets is quite often the need to deal on the global market in order to achieve economies of scale . For this reason, hidden champions feel

2340-538: The strategic aims concluded by the University Council (Universitätsrat) . Since October 2012 the UMA is headed by rector Ernst-Ludwig von Thadden . The Senate is the "legislative branch" of the university. The rector and the members of the rectorate are senators ex officio , as are also the deans of the faculties. Another 18 senators are elected for four-year terms, within the following quotas: nine university professors, three academic staff, three delegates of

2392-485: The student body, and three employees of the university administration . The University Council is the advisory board to the aforementioned entities. The Allgemeiner Studierendenausschuss of the University of Mannheim ( AStA ) is the student government of the university. It is elected by the Student Parliament (StuPa) which in turn is elected by the entire student body. Elections are held each year. The AStA's task

2444-517: The supreme law". In 1963, the Wirtschaftshochschule extended its faculties to a total of three – Business Administration and Social Sciences, Philosophy-Philological Sciences and Law. It subsequently gained the status of "university" on 4 July 1967. The University of Mannheim started out with around 3,000 registered students. During the growth phase of the university in the 1960s and 1970s the number of students and faculties increased. In 1969,

2496-410: The university at 75th and 43rd globally, with national ranks of 1st and 2nd, respectively. In the 2022 ARWU Subject Ranking, the university ranks first in Germany in political science and finance. The university's programs for social sciences, politics as well as business informatics rank nationwide within the Top 3 and its programs for law and computer science within the Top 10. In 2008,

2548-526: The university has its origins in the Palatine Academy of Sciences , which was established by Elector Carl Theodor at Mannheim Palace in 1763, as well as the Handelshochschule (Commercial College Mannheim), which was founded in 1907. The university offers undergraduate , graduate and doctoral programs in business administration, economics, law, social sciences, humanities, mathematics, computer science and information systems. The university's campus

2600-631: The university lies the Rhine River . Between 1955 and 1973, Mannheim Palace became the core of the UMA's campus. Today, it is home to the university's Business School , Law School , parts of the School of Humanities and the University Library . In 2000, the UMA initiated the Renaissance des Barockschlosses (Renaissance of Mannheim Palace), a campaign aimed at raising funds for renovating and extending

2652-659: Was implemented in a fund called Hidden Champions Fund, founded in Singapore by 8I Holdings Ltd. This list of companies selected by Hermann Simon in 2009 gives an idea of the specialization of hidden champions: List of countries by exports The following article lists different countries and territories by their exports according to data from the World Bank . Included are merchandise exports and service exports . Merchandise exports are goods that are produced in one country and sold to another country. Service exports refer to

SECTION 50

#1732894044755

2704-467: Was the only German university with an international academic calendar, which means that the academic year is divided into a fall and a spring term. Since 2012, universities in the State of Baden-Württemberg do not charge any tuition fees. Excluded from this rule are non-EU citizens who since 2017 have had to pay a tuition fee of 1,500 Euro per semester according to state law. The University of Mannheim has

#754245