REVERSE INNOVATION

REVERSE INNOVATION

REVERSE INNOVATION Aravind T S

Conventionally big shot companies manufacture products at their home country and market it their own place and mere portion will be export to the other developed countries and emerging markets (EM). A reverse innovation is any innovation likely to be adopted first in the developing world. For example, companies develop products in countries such as China and India, and then distribute them globally. Two business exponents called Mr.Vijay Govindarajan & Mr.Chris Trimble propounded reverse Innovation

Glocalization strategies assume that innovation has already occurred, and that developing nations are in a slow and evolutionary process of catching up with the rest of the richer world. They will import what the richer world develops as soon as they can afford to do so. Glocalization is the process that companies use to export modified versions of global products originally developed for rich-world consumers.

What matters Innovation ?

The income gap between the developed countries and the developing countries are the sources of reverse innovation. It is obvious that manufactures has no way to design a commodity for a developed nation like US and then adapt it for Emerging nation like India and China. Buyers in EM need a solution at low cost . They demand high quailiy products for ultra low cost.

 

“So Try to innovate here and Glocalise it across the world as per the demography of the geography”