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.
Much of American business has focused successfully on exporting the same popular products they sell in the States. But that won't be good enough for long; it's time to implement reverse innovation, the ability to innovate new products and strategies specifically for emerging markets, argue Govindarajan and Trimble, professors at Dartmouth's Tuck School of Business and coauthors of The Other Side of Innovation. There's a chasm between rich- and poor-country needs, and success will depend on the ability to reach the developing world. In an engaging voice, the authors discuss the rising importance of such countries as India and China, and present case studies of companies like Nokia, Proctor & Gamble, GE Healthcare, and PepsiCo, and their efforts to address this challenge. Though reverse innovation clearly has great profit potential, it's also an instrument for solving vexing social problems in the developing world and improving standards of living. This insightful book makes a compelling case for the developing world supplying the strongest emerging market of the new century.