Reverse innovation : Create far from home, win everywhere / Vijay Govindarajan, Chris Trimble ; [foreword by] Indra K. Nooyi.

Abstract:

A New York Times , Wall Street Journal , USA Today , Amazon Bestseller Reverse Innovation is the new business idea everyone is talking about. Why? Because it presents the blueprint for scaling growth in emerging markets, and importing low-cost and high impact innovations to mature ones. Innovation is no longer the exclusive domain of the Silicon Valley elite. Reverse Innovation will open your eyes to the fact that the dynamics of global innovation are changing-and if you want your firm to survive, you'd better pay attention. The gap between rich nations and emerging economies is closing. No longer will innovations travel the globe in only one direction, from developed to developing nations. They will also flow in reverse. CEOs of the world's most influential companies agree and have cited Reverse Innovation as their playbook for the next generation of global growth. Authors Vijay Govindarajan and Chris Trimble of the Tuck School of Business at Dartmouth explain where, when, and why reverse innovation is on the rise and why the implications are so profound. Learn how to make innovation in emerging markets happen and how such innovations can unlock even greater opportunity throughout the world. You'll follow some of the world's leading companies (including GE, Deere & Company, P&G, and PepsiCo) through stories that illustrate exactly what works and what doesn't. If you're in a Western economy, you need to accept that the future lies far from home. But the idea is not just for Western audiences. If innovation is at the heart of your company or your career, no matter where you practice business, Reverse Innovation is a phenomenon you need to understand. This book will help you do that.

"The popular HBR article "How GE is Disrupting Itself" by GE's CEO Jeffrey Immelt, Vijay Govindarajan, and Chris Trimble first coined the term reverse innovation, using it to describe GE's new approach to global strategy. GE, like most multinationals, follows a strategy of developing products at home and then adapting them for other markets around the world. But as growth accelerates in emerging markets and slows in developed ones, GE is also now doing the reverse: developing products in countries like China and India, and then distributing them globally. As the tip of the multinationals iceberg, GE shows that successful global companies will have to do both. But succeeding at reverse innovation requires a different model than the one used in home markets. This book picks up where the ground-breaking HBR article leaves off, and goes beyond describing the reverse innovation phenomenon to showing how to do it. Through eight detailed case studies - PepsiCo, Procter and Gamble, EMC, Deere & Company, Logitech, Harman International , PIH/PACT, and, of course, GE - authors Govindarajan and Trimble explain how to succeed on the ground with reverse innovation, showing how these companies use a different management model than the one they use in their home markets. This book explains the new model these companies use -- the Local Growth Team -- and how it works, and offers a "Reverse Innovation Toolkit" providing readers with a step-by-step action plan for developing and implementing their own reverse innovation strategies. "-- Provided by publisher.