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In this engaging, insightful, and inspiring narrative, Hermann Simon, the world-renowned management thinker, consultant, pricing expert, entrepreneur, and leading authority on the ¿hidden champions¿ business model, highlights the influences on his remarkable journey from humble origins on a German farm to advising and sharing the stage with global leaders in industry, academia, and politics.Born in 1947 in the rural Eifel region of Western Germany, Simon¿s coming of age parallels that of a country struggling to come to terms with the legacy of World War II and reinvent itself as a new world power. His colorful anecdotes of a youth spent in an agricultural community that in many ways operated as it had since the Middle Ages, reflect the establishment of core values, such as trust, focus, quality, and commitment that served as an anchor against the accelerating pace of technological, economic, political, social, and cultural change in the subsequent decades. Simon takesreaders on a journey through time and space, as his¿and our¿world transformed from isolated to connected, local to global, revealing lessons learned from the extraordinary people (from Peter Drucker to Henry Kissinger) and places he has encountered along the way, through a career that has evolved from research and education to management consulting to leadership and strategy development on a broad scale. His particular interest in the Mittelstand, or ¿hidden champions,¿ the small and medium-sized companies that exemplify the German business philosophy and served as the engine of its economic revival, becomes a powerful metaphor of his own experiences in blazing new trails while staying true to one¿s roots.For anyone familiar with Simon¿s work and contributions, Many Worlds, One Life reveals unique insights into the man himself and the origins of his ideas on successful leadership and business strategy. But more generally, readers in any field or discipline will recognize howtheir own stories reflect their ties to the past, their accomplishments in an increasingly complex environment, and, ultimately, their roads to the stars.
In this book, the world¿s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of ¿price theory¿ and ¿price policy,¿ the authors coined the term ¿price management¿ to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a ¿bible¿ for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike.Praise for Price Management¿This book is truly state of the art and the most comprehensive work in price management.¿ - Prof. Philip Kotler, Kellogg School of Management, Northwestern University ¿This very important book builds an outstanding bridge between science and practice.¿- Kasper Rorsted, CEO, Adidas ¿This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.¿- Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)
We are struggling through a worldwide economic and financial crisis. No company can afford to take a wait-and-see attitude. In this book, international strategy guru Hermann Simon offers 33 practical actions that any company can take immediately.
"Hidden Champions" are the medium-sized, little-known companies that have quietly become world market leaders in their respective industries. This book chronicles the common patterns, behaviors and approaches of over one thousand of those hidden champions.
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