Hidden Champions Revised: Towards a New Conceptual Framework

Daniela Podevin, Laura Bies, Tobias Greff, Dirk Werth

2024

Abstract

The business environment for Hidden Champions has evolved dramatically, with rapid technological advancements and the rise of Artificial Intelligence (AI) accelerating change and increasing the importance of data. This paper explores the need for an updated Hidden Champions model that reflects the critical roles of innovation, technology utilization, and social media visibility, emphasizing the transformative impact of AI on competitiveness. It suggests that mastery of AI and effective data use are indispensable for companies seeking to secure and expand their market positions in the current digital era. Integrating these elements, alongside a robust social media presence, is proposed as an essential criterion for identifying Hidden Champions. The paper argues that these updated core elements can serve as helpful indicators of a company’s potential for growth and competitive advantage, highlighting that firms at the forefront of AI and data analytics can outperform rivals, regardless of their size or global footprint. It concludes that adapting to these changes by embracing AI, leveraging data, and engaging with social media can significantly enhance a company’s ability to innovate and remain competitive in the fast-evolving market landscape. The Hidden Challenger model presented in this study proposes a strong theoretical basis, explaining the core elements and enabling future research to empirically validate the innovative model. It aims to guide companies and policymakers toward strategies that bolster competitiveness and ensure sustainable growth in an age dominated by digital transformation and AI.

Paper Citation

in Harvard Style

Podevin D., Bies L., Greff T. and Werth D. (2024). Hidden Champions Revised: Towards a New Conceptual Framework. In Proceedings of the 21st International Conference on Smart Business Technologies - Volume 1: ICSBT; ISBN 978-989-758-710-8, SciTePress, pages 59-65. DOI: 10.5220/0012720100003764

in Bibtex Style

@conference{icsbt24,
author={Daniela Podevin and Laura Bies and Tobias Greff and Dirk Werth},
title={Hidden Champions Revised: Towards a New Conceptual Framework},
booktitle={Proceedings of the 21st International Conference on Smart Business Technologies - Volume 1: ICSBT},
year={2024},
pages={59-65},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012720100003764},
isbn={978-989-758-710-8},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 21st International Conference on Smart Business Technologies - Volume 1: ICSBT
TI - Hidden Champions Revised: Towards a New Conceptual Framework
SN - 978-989-758-710-8
AU - Podevin D.
AU - Bies L.
AU - Greff T.
AU - Werth D.
PY - 2024
SP - 59
EP - 65
DO - 10.5220/0012720100003764
PB - SciTePress