Three Decades of Excellence: A Systematic Review of Key Success Factors of Hidden Champions
Sofia Arougay* and Mohamed Nabil El Mabrouki
ABSTRACT
Purpose: This paper investigates the key success factors that have enabled hidden champions—small and medium-sized enterprises (SMEs) that attain global leadership in niche markets—to achieve long-term performance and competitiveness. Despite increasing scholarly attention, a comprehensive and unified understanding of these factors remains limited.
Design/Methodology/Approach: A systematic literature review was conducted, synthesizing findings from 58 peer-reviewed academic articles published between 1992 and 2024. The selected studies span various industries and geographic regions. The review adopts a qualitative synthesis approach to classify and interpret the success factors.
Findings: The analysis identifies three main categories of success factors: strategic (e.g., innovation capabilities, international orientation), organizational (e.g., leadership style, talent retention, resource efficiency), and environmental (e.g., supportive institutions, network integration). These factors demonstrate a strong degree of consistency across different contexts and are central to the sustained global positioning of hidden champions.
Conclusion: The study offers an integrative and multidimensional framework that consolidates the fragmented literature and advances understanding of the sustainable excellence of hidden champions.
Practical Implications: The findings provide actionable insights for entrepreneurs, managers, and policymakers seeking to replicate or support hidden champion models, particularly in emerging economies where SMEs face heightened global competition.
