Innovation Activities of Mid-Sized World Market Leaders

In my latest book Hidden Champions of the 21st Century (Simon, 2009.) I analyzed the current situation and the development of hundreds of little-known companies that are frequently world market leaders in their segment. Their outstanding market performance is not only based on a clear product focus, international market presence, conservative financing or close customer relations, but to a large extent due to their highly innovative products and processes. The following article will explain the meaning of innovation to the Hidden Champions, the origins and driving forces of their innovation and creativity, how management can influence innovation and how a competitive advantage can be gained from it.