Opinion: Enlightenment of ‘hidden champions’ amid labor-capital conflict in Taiwan

Taiwan News
Date: 2016-09-13
By: Cli Square, Taiwan News, Contributing Writer

Some people said “two days off a week” has nothing to do with the economy as working hours can’t be strictly translated into productivity. Instead, creativity is the key to productive power as demonstrated by the success of hidden champions.

Taking Germany as an example, the country has the shortest working hours in Europe and the population of its workforce is much smaller than that of Taiwan. In contrast, the working hours in Greece are the longest, and the country has the worst economic situation in Europe. The augment that the length of working hours cannot be translated into productivity is full of paradox, but it is true.

We usually ignore the rudimentary factors of economic health are “productivity and creativity,” as exemplified by countries such as Germany, Switzerland and some other European countries, all of which host a great number of hidden champions.

Taiwan’s small and medium-sized enterprises, which account for 97 percent of the country’s total enterprises, employ more than 70 percent of the country’s workforce. The situation is similar to those countries in pursuit of hidden champions.     [FULL  STORY]