SUCCESS DESPITE LACK OF SUPPORT: LESSONS LEARNED FROM HIDDEN CHAMPIONS DOING BUSINESS IN FRAGILE BUSINESS ENVIRONMENTS
SUCCESS DESPITE LACK OF SUPPORT: LESSONS LEARNED FROM HIDDEN CHAMPIONS DOING BUSINESS IN FRAGILE BUSINESS ENVIRONMENTS

Summary/Abstract: Main aim of this paper is to identify factors that contribute to the success of hidden champions in fragile business environment (FBE); i.e. business environments which are transitional, post-conflict and risky. The study is based on data collected from four South-East European countries whose context correspond to the characteristics of fragile business environment described in literature. Results indicate that hidden champions from transitional economies with fragile business environments have main characteristics of hidden champions from Simon’ studies (e.g., intense and passionate leadership, innovation, strong ties with customers). However, they are portrayed with some specific traits mostly related to ownership, innovations, finance, and internationalization. Based on these specific aspects general lessons are derived for companies doing business in such environments.

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