How does the Strategic Logic of Hidden Champions Evolve in the Dynamic Environment?A Vertical Case Study Based on Attention Allocation Perspective
The dynamic evolution of the strategic logic of hidden champions in complex and changing environments is the key to their high degree of focus on niche markets and continued shaping of competitive advantage in the market-place.By analyzing the strategic logic of hidden champions,this study can more deeply summarize the unique formation process and development law of these'specialized and refined'leading firms.Existing literature on strategic logic is mostly based on a static perspective,which has been useful for exploring top-ics such as conceptual connotations,attribute characteristics,and typological features,but it still lacks explanatory power on issues such as the internal mechanism and root causes of the dynamic evolution of the strategic logic of hidden champi-ons.The main reasons being:firstly,there is a controversy in the established research about the attributes characterizing the strategic logic.Secondly,in terms of exploring the evolutionary mechanism of strategic logic,previous literature has highlighted the driving role of the external context,and rarely analyzed the dynamics and complexity of managers'cogni-tive structure during the formation and evolution of strategic logic from the internal cognitive level.At the same time,al-though some scholars have tried to introduce the attention allocation into the study of managers'cognitive structure,which provides a theoretical reference for the in-depth analysis of the formation and evolution of strategic logic.Based on the ex-isting theoretical gaps,the research question focuses on"how the strategic logic of hidden champions evolves through the managers'attention allocation in dynamic contexts".In this study,Ningbo HengShuai Co.,Ltd.is selected as the research object,and through the vertical deconstruction of managers'attention allocation process,it reveals the formation path,evolution mechanism and attribute characteristics of the strategic logic of hidden champions in dynamic contexts.The results show that:Firstly,the strategic logic formation path of hidden champions in each stage is a process in which managers construct the attention structure distribution includ-ing focus with different degrees of cognitive disposition and the causal logic between them through allocate attention to in-ternal and external contextual information.Secondly,maintain vigilance to the dynamic changes of internal and external situational information,which drives managers to make adaptive adjustment of the attention structure distribution under the traction of the basic cognitive orientation-occupying a large market share in the subdivision field,and finally promote the dynamic evolution of the strategic logic of hidden champions.Finally,the"regulator"and"adapter"roles played by stability and strategic attributes from different sources,jointly promote the strategic logic of hidden champions to evolve dynamically in niche markets in a smooth and timely manner.
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