If you haven’t asked yourself or your team this question, you will soon.
When it comes to innovation, the gap between the developed world and the developing world is closing. Understanding this fact—and knowing how to “reverse innovate” to stay in front of global demand—is critical for any business with growth in its future.
Enter Reverse Innovation, an important book that helps leaders and senior managers understand what it means to develop in emerging markets first, instead of scaling down rich world products, to unlock a world of business opportunity. Written by Vijay Govindarajan and Chris Trimble of the Tuck School of Business at Dartmouth, and published on April 10th, Reverse Innovation provides a next step for organizations looking to derive long-term value from emerging markets. The book highlights strategies from some of the world’s leading companies (General Electric, Deere & Company, Procter & Gamble, PepsiCo) that emphasize innovations that “flow uphill”—that is, successes that were adopted in the developing world first.
Expert on reverse innovation, not only is Vijay Govindarajana strategist in the field, he is also an activist. Watch our video of the day on the subject hereand read an article from WOBI magazineon how Govindarajan led a competition to create USD 300 homes for the world’s poor…all in our blog!