Promotors or Champions? Pros and Cons of Role Specialisation for Economic Process

Abstract

According to the Great-Man Theory, the creation of something new used to be accredited solely to one outstanding individual: the champion. This prevailing notion in Anglo-American research was first challenged by Witte (1973), who concluded that an innovation cannot be a one-man decision, since the creation of something new usually involves highly complex and multi-person decision processes. Witte's model credits the success not to one all-around individual, but to the cooperation of several different specialized persons (so called promotors). Even though the Great-Man Theory is still leading the discussion, the idea of specialized promotors should not be underestimated. In this article we discuss the circumstances under which specialized promotors or generalized champions are better suited for economic progress. We find extensive empirical proof for both roles.

Keywords: Champions, Promotors

JEL Classification: M12, O32