Research On The Relationship Among Niche Entrepreneurial Orientation,Opportunity-Resource Integration And Entrepreneurial Performance Of Hidden Champion

Today,China's economic development is in a new historical starting point.Facing the great changes of the world in a century,although we have become the world's second-largest economy for years,the first big country of manufacturing and the world's largest foreign exchange reserve for many years,We must continue to be problemoriented,implement the new vision of development,and acquire new growth momentum in order to achieve high quality development.We should shift from factors driven to efficiency driven and innovation driven,and truly improve the efficiency and innovation.In such economic transition background,we follow the principle of problem oriented,begin from Hidden Champion entrepreneurial success,Combined with the Oriental management philosophy of "the way of Niche",deeply explore the successful entrepreneurial process and mechanism of Hidden Champion,to build the entrepreneurial model of Hidden champion enterprise,so as to provides theoretical reference for the growth and success of small and medium-sized enterprises in China and accelerate the high-quality development of Chinese industries.As the leader of the market segment,Hidden Champion's mechanism of entrepreneurial success is of great significance for the development of future entrepreneurial research.However,the existing researches mainly analyze the factors influencing the success of hidden champions,few scholars make research from the perspective of the entrepreneurial process mechanism of Hidden Champions.In order to fill the research gap,this paper explores the main antecedent variables,the entrepreneurial process,and entrepreneurial performance of Hidden Champion and the relationship among them in Hidden Champion enterprise.It aims to answer the following four theoretical questions:(1)What is the core strategic orientation that affects the success of Hidden Champion?(2)What is the entrepreneurial process of a Hidden Champion and how to achieve product leadership and market leadership?(3)How to measure the entrepreneurial performance of Hidden Champion?(4)How are the relationships among the core strategic orientation,entrepreneurial process and entrepreneurial performance of Hidden Champion?The success way of the Hidden Champion as focusing on technology first,continuous innovation and pooling resources to develop niche markets is consistent with the Philosophy of ancient Oriental culture called “Niche”.Based on the existing research and exploratory case studies,this paper puts forward the "Niche entrepreneurial orientation" as the core strategic orientation of Hidden Champion and divides it into three dimensions as technology orientation,market segmentation orientation and proactive innovativeness.Taking four Hidden Champions in the domestic automobile industry as examples,through the interactive verification of case study and theoretical analysis,this paper finds that the entrepreneurial process of Hidden Champions is divided into two dimensions as market-driven opportunityresource integration and technology-driven opportunity-resource integration.entrepreneurial performance of Hidden Champions is made of product leading and market leadership.This paper also constructs the relationship models of Niche entrepreneurial orientation,opportunity-resource integration and entrepreneurial performance of Hidden Champions.It is found that the three dimensions of Nicheentrepreneurial orientation have a positive impact on the entrepreneurial performance of Hidden Champion,and the market-driven opportunity-resource integration and technology-driven opportunity-resource integration also have positive impact on entrepreneurial performance.Therefore,this paper constructs the theoretical model and puts forward the hypothesis.Then,by questionnaire survey,we distributed questionnaires to Hidden Champion from Beijing,Shanghai,Zhejiang,Jilin,Liaoning,Heilongjiang and other regions which are mainly manufacturing hidden champions or enterprises with characteristics of hidden champions.A total of 568 valid questionnaires were obtained.After sample characteristics analysis,descriptive statistical analysis,Pearson correlation analysis,reliability and validity tests,the hypothesis was tested by multiple linear regression and Bootstrap method.The results show that the hypothesis proposed in this study is supported by empirical research results:(1)The technological orientation,market segmentation orientation and proactive innovativeness of the hidden champion have a positive impact on entrepreneurial performance;(2)Technology orientation,market segmentation orientation and proactive innovativeness have positive impact on both market-driven opportunity-resource integration and technology-driven opportunity-resource integration;(3)Market-driven opportunityresource integration and technology-driven opportunity-resource integration have mediating effects on Niche entrepreneurial orientation and entrepreneurial performance of hidden champions.This paper aims to reveal the core strategic orientation of the entrepreneurial success of China's Hidden Champion and the successful mechanism of the entrepreneurial process of Hidden Champion in the context of economic transition.The innovation points and theoretical contributions of this study are mainly as the follow three:Firstly.Based on China's new development concept,this paper takes how to promote high-quality development of enterprises as the problem orientation,focuses on the phenomenon of entrepreneurship of Hidden Champion,and excavates the successful mechanism of entrepreneurship of Hidden Champion from the entrepreneurial perspective,which is the first attempt in the field of strategic research on Hidden Champion and entrepreneurship research.This paper is the first to conduct research on the entrepreneurial process mechanism,strategic orientation and entrepreneurial performance of hidden champions from the entrepreneurial perspective.By exploratory case study,the paper constructs the entrepreneurial process model of Hidden Champion,put forward theoretical hypotheses,and carry out empirical research.This paper puts forward a new idea for the research of Hidden Champion strategy and provides a new direction for the research of corporate entrepreneurship theory.Secondly.Combining the concept of sinology culture with the western strategic orientation theory,following to the characteristics of hidden champions' strategic orientation,this paper puts forward the concept of "Niche entrepreneurial orientation" of hidden champions.By sorting out the existing research,this paper further explores the connotation and dimension of “Niche entrepreneurial orientation”.It is a brandly new strategic orientation with obvious characteristics that integrates technology,market segments and entrepreneurship.This new concept puts forward a new research direction for strategic orientation research and it is a new application of Sinology culture in the field of modern management,and also a fusion of eastern and western management culture,which has a certain innovation and theoretical value.Finally.From the perspective of opportunity-resource integration entrepreneurship process,this paper explores the product opportunity development and market opportunity development process mechanism of Hidden Champion through literature review and exploratory case study,further explore the entrepreneurial process of market-driven opportunity-resource integration and technology-driven opportunityresource integration of Hidden Champion.This paper provides a new direction for the follow-up research on the entrepreneurship of Hidden Champion.The research of this paper also provides a new research idea for opportunity-resource integration entrepreneurship research and enriches the theoretical research of opportunity-resource integration entrepreneurship.