Foreword 5
Acknowledgements 7
Content 8
List of illustrations 12
List of tables 16
List of abbreviations 20
1 Introduction 24
1.1 Motivation and objectives 27
1.2 Object of consideration: Hidden Champions 30
1.2.1 Origin of the term and criteria 30
1.2.2 Size and profitability 34
1.3 Outline of the study 37
2 The area of logistics 44
2.1 Industry fundamentals 44
2.1.1 Origin of the term 45
2.1.2 Definitions 46
2.1.3 Similarities and differences with supply chain management 51
2.2 Recent developments 57
2.2.1 From value chain to value network 57
2.2.2 Environmental conditions 64
2.2.2.1 Micro environmental factors 64
2.2.2.2 Macro environmental factors 69
2.2.3 Trends and current developments 73
2.3 Industry demography 75
2.3.1 Market volume 75
2.3.2 Market segments 82
2.3.3 Large actors in the industry 85
2.3.4 SMEs and Hidden Champions in the area of logistics 87
3 Business models as an approach for analyzing companies 91
3.1 About business analysis 91
3.1.1 Environmental dynamics as a starting point 91
3.1.2 Approaches for analyzing companies 93
3.2 Business models: an approach for corporate analysis in a dynamic environment 98
3.2.1 Fundamentals of business models 98
3.2.1.1 Evolution of the terminology 98
3.2.1.2 Purpose of business modeling 101
3.2.2 Prevailing approaches 102
3.2.3 Definition 108
3.2.3.1 Requirements of the framework 108
3.2.3.2 Research framework 109
3.2.4 Limits of business models 112
4 Issues of empirical research and analysis 120
4.1 Methodology 120
4.1.1 Research challenges 120
4.1.2 Research approach 122
4.1.2.1 Classification 122
4.1.2.2 Representative research 123
4.1.2.3 Explorative research 124
4.1.2.4 Experimental research 125
4.1.3 Research process 126
4.1.3.1 Process 126
4.1.3.2 Theory 128
4.1.3.3 Reality 128
4.1.3.4 Quality 129
4.2 Business model architectures 130
4.2.1 Industry developments and business model architectures 130
4.2.2 Derivation of business model architectures and comparisons 131
4.2.2.1 Descriptions and characteristics 131
4.2.2.2 Research relevance 136
4.3 Survey of LSPs 136
4.3.1 Typology 136
4.3.2 LSPs relevant for research 142
4.3.3 Selection of LSPs for empirical research 143
4.4 Role of customers in empirical research 145
4.5 Questionnaire design 146
5 Formulation of hypotheses 149
5.1 Formulation of micro hypotheses on business model components 149
5.1.1 Micro hypotheses on Ambitions & Aims 149
5.1.1.1 Single Source Hypothesis 149
5.1.1.2 Segmentation and Transaction Hypotheses 152
5.1.1.3 Commodity Trap Hypothesis 154
5.1.2 Micro hypotheses on Implementation 155
5.1.2.1 Cherry Picking Hypothesis 155
5.1.2.2 Global Standard Hypothesis 157
5.1.2.3 Virtual Logistics Hypothesis 158
5.1.2.4 Complexity Hypothesis 160
5.1.2.5 Information Processing Hypothesis 162
5.1.2.6 Complementarity and Reliability Hypothesis 163
5.1.2.7 Rules Hypothesis30 164
5.1.3 Micro hypotheses on Financials 165
5.1.3.1 Significant Turnover Hypothesis 165
5.1.3.2 Risk Aversion Hypothesis 166
5.2 Formulation of macro hypotheses 168
5.2.1 Customer Centricity Hypothesis: Egoism Syndrome as hurdle for Total Integration 168
5.2.2 Partnership Hypothesis: Collaborative entity as solution for Total Integration 171
5.2.3 Size Compatibility Hypothesis: Minor company size as limitation for Total Integration 172
5.2.3.1 Correlation between size of LSP and size of customer 174
5.2.3.2 Critical company size for Total Integration 175
6 Empirical results 177
6.1 Evaluation of micro hypotheses and common industry misperceptions 179
6.1.1 Misperceptions on Ambitions & Aims 179
6.1.1.1 The striving for single source misperception 171
6.1.1.2 The sector specificity and selection misperception 187
6.1.1.3 The damnation to low margin business misperception 190
6.1.2 Misperceptions on Implementation 196
6.1.2.1 The competition misperception 171
6.1.2.2 The global standard misperception 204
6.1.2.3 The asset misperception 207
6.1.2.4 The prevalence of complex internal settings misperception 217
6.1.2.5 The reservation expectation misperception 219
6.1.2.6 The partner relationship misperception 222
6.1.2.7 Formality as a norm 224
6.1.3 Misperceptions on Financials 226
6.1.3.1 The market leadership misperception 171
6.1.3.2 The willingness to take risks misperception 229
6.2 Summary of the micro analysis 231
6.3 Evaluation of the macro hypotheses and common industry misperceptions 237
6.3.1 The customers\u2019 lacking attention misperception: Customers as activators for innovation and/or business growth 237
6.3.1.1 Confidence and performance as a basis for innovation and business growth 237
6.3.1.2 The reality of balanced responsibilities: The dream of Total Integration 239
6.3.1.3 Escaping the commodity trap 243
6.3.2 The collaboration misperception: The failure of collaborative integration in the absence of special conditions 245
6.3.3 The power of smallness misperception: Issue of size 253
6.3.3.1 Similarity in company size is a wish but not reality 253
6.3.3.2 Company size and survival 258
6.4 Summary of the macro analysis 262
7 In search of Hidden Champions: BMPS 265
7.1 Introduction to performance measurement and scoring 265
7.2 Scoring performance along the micro dimensions 269
7.2.1 Incrementalism 269
7.2.2 Scope 273
7.2.3 Gradual Conquest 275
7.2.4 Customer Favor Striving 277
7.2.5 Customer Proximity 280
7.2.6 Entrepreneurship 282
7.2.7 Simple and Fast Decision Making 284
7.2.8 Open Communication and Collaboration 287
7.2.9 Strategic Self-Sufficiency 289
7.2.10 Mutual Trust 293
7.2.11 Niche Sovereignty 295
7.2.12 Customer Granularity 297
7.2.13 Conclusions on scoring the micro dimensions 298
7.3 Scoring performance along the macro dimensions 301
7.3.1 Gradual Service Extension, Role Complementarity, and Continuous Innovation 302
7.3.2 Reliable Execution 306
7.3.3 Courage and Self-Confidence as well as Defense and Attack 307
7.3.4 Conclusions on scoring the macro dimensions 310
7.4 The BMPS Framework 311
7.4.1 Developing the BMPS Framework 311
7.4.1.1 The BMPS Framework\u2019s micro perspective 312
7.4.1.2 The BMPS Framework\u2019s macro perspective 322
7.4.2 Results from the BMPS Framework 329
7.4.3 Identification of starting points for improvements at non-Hidden Champions 336
7.5 Comment on business principles 346
8 Conclusions 349
8.1 My main point: fallacy of Total Integration 349
8.2 Market and competitive implications: SMEs can not be neglected in any serious study of the LSP industry 353
8.3 Future research 357
Appendices 359
Appendix 1: Overview of approaches to business models 360
Appendix 2: Overview of approaches to strategy 373
Appendix 3: Questionnaire/Interview Manual Logistics Service Provider 376
Appendix 4: Questionnaire/Interview Manual Customer 387
Bibliograhpy 392