E284 | Unveiling The Latest Economic Trends and What Makes A Hidden Champion with Hermann Simon

This week on The Melting Pot we welcomed back a special guest. We're diving into today’s international economic landscape, and the critical debates surrounding Germany's own industrial landscape with none other than the renowned pricing expert and consultant, Hermann Simon.As ever, Simon leaves us with an extremely insightful episode where he explores the provocative argument for Germany's deindustrialisation, the challenges and strategies for managing automation, and the intriguing concept of hidden champions—those mid-sized market leaders in niche sectors that silently dominate the global stage. He examines Germany's rich history of entrepreneurial internationalisation and technological innovation (both fundamental pillars in the DNA of German entrepreneurs), as Hermann shares insights on everything from the inner workings of seed-sorting machines to autonomous driving achievements.During their conversation, Simon and Dominic discuss the complexities of immigration, the need for skilled talent, and Simon's perspective on the essential balance for effective integration. Plus, insights into pricing strategies amid inflation, the significance of education and vocational training in shaping a skilled workforce, and a glimpse at the future role of AI and raw materials in industries like automotive.To top it off, Hermann imparts his wisdom on staying optimistic amid a global economy peppered with uncertainties but also ripe with opportunities. So, gear up for a thought-provoking journey through the economic, technological, and social realities that shape our world. Download and listen to learn more. On today’s podcast: Inflation and its effect on pricing strategyGermany vs UK’s economyWhy Are Hidden Champions ‘Hidden’The DNA of German entrepreneursDeindustrialisation in Germany Follow Hermann Simon: WebsiteLinkedInHidden Champions in the Chinese CenturyConfessions of the Pricing ManBeating InflationBook recommendations Elon MuskForged in Crisis Previous episodes with Hermann: