隐形冠军企业跨越式成长：裂变战略与关系动力——基于双童公司的嵌入式案例研究

摘要/Abstract

摘要： 隐形冠军企业作为全球细分市场领导者，通常陷入成长空间的行业“天花板”，如何通过企业裂变实现跨越式成长是理论创新的重要契机。本文以全球吸管行业领导者双童公司及其6家核心裂变体为嵌入式案例研究对象，从关系动力学视角归纳提炼隐形冠军企业突破行业“天花板”的裂变成长机制。研究发现，隐形冠军企业作为母体在裂变式发展中经历了裂变变革、裂变赋能、裂变涌现和裂变反哺4个关键过程；母体-裂变体与裂变体-裂变体两对关系的交错演进推动了母体基于“隐形冠军”禀赋而赋能众多优质裂变体涌现并使之主动反哺母体。在此良性循环中，裂变成为隐形冠军企业的重要战略选择，从而经由核心能力（母体）和市场机会（裂变体）两股力量驱动企业实现跨越式成长。通过揭示细分市场领导者采用裂变战略突破成长空间限制的独特路径，本文拓展了当前以单体企业为载体的“T型战略”观，并对既有研究中精一战略和多元化战略形成有益补充，推动了隐形冠军企业成长、企业裂变式发展与关系动力理论的融合创新。

关键词: 隐形冠军企业, 裂变战略, 裂变式发展, 关系动力学

Abstract: Hidden champions, as leaders in global niche markets, often encounter a “ceiling” in their industry growth space, so figuring out how they can achieve leapfrog growth through corporate spin-off is an important opportunity for theoretical innovation. This study takes the global straw industry leader Soton and its six core spin-offs as embedded case study objects, and summarizes and refines the spin-off growth mechanism for hidden champions to break through the industry “ceiling” from the perspective of relational dynamics. Our findings reveal a four-stage growth, including spin-off initiation, sponsorship, emergence, and reinvestment. The interwoven evolution of two sets of relationships, between parent and spinoffs and between spinoffs and spinoffs, drives the parent to empower numerous spin-offs based on its special sponsorship. Reciprocally, some spin-offs may re-feed the parent. In this virtuous cycle, spin-off logic becomes a significant strategic choice for hidden champions, enabling leapfrog growth driven by the dual forces of the parent's core competence and the spin-offs' flexibility in seizing market opportunities. This study expands the current “T-shaped strategy” perspective, which centers on the single enterprise as carrier of the strategy. Our finding supplements traditional focus on specialization strategies or diversification strategies, and contributes to theoretical integration and advancements in the growth strategy of hidden champions, spin-off development, and relational dynamics.

Key words: hidden champions, spin-off strategy, spin-off development, relational dynamics

曾凯, 王凤彬. 隐形冠军企业跨越式成长：裂变战略与关系动力——基于双童公司的嵌入式案例研究[J]. 管理评论, 2026, 38(3): 261-275.

Zeng Kai, Wang Fengbin. Leapfrog Growth in Hidden Champions: Exploring Spin-off Strategy and Relational Dynamics through an Embedded Case Study of Soton[J]. Management Review, 2026, 38(3): 261-275.

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