Many companies in Germany and Europe have exploited these opportunities and achieved leading positions in the global market. To highlight these companies‘ accomplishments, Roland Berger Strategy Consultants and the Financial Times joined forces to launch the “Best of European Business“ initiative. The competition rewarded businesses that best combined the success factors of European companies:

- All of them pursue a double-pronged strategy of continuously increasing productivity and making selective investments in growth. They focus on both strategies simultaneously.

- All of the winners have combined the “hard“ factors with the right success-oriented “soft“ ones. They have clear values, strong leadership, self-confidence and integrity.

- The winning companies have skillfully used Europe‘s higher wages to their benefit by strengthening their “system head“ function. They have concentrated their core functions in Europe. These include R&D, production planning, sales management, or marketing and branding, as well as after-sales service - the elements that ultimately determine their competitive advantage.

- All of the winners have been able to take advantage of Europe’s cultural diversity. Decentralisation, target-specific marketing and sound leadership in localised businesses have enabled them to build a competitive advantage.