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Reverse Innovation: Create Far from Home, Win Everywhereby Vijay Govindarajan
Synopses & Reviews
"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." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
Do you have reverse innovation in your strategic plan? If you havent asked yourself or your team this question, you will be soon.
Reverse Innovation introduces the idea of developing in emerging markets first—instead of scaling down rich world products—to unlock a world of opportunities for your business. Written by Vijay Govindarajan and Chris Trimble of the Tuck School of Business at Dartmouth and stemming from a pivotal article in Harvard Business Review, the book offers an important next step for companies looking to derive long-term value from emerging markets. According to the authors: “Reverse innovation is a potent force that will transform the global economy over the next few decades. It will redistribute power and wealth to countries and companies who understand it and diminish those who do not.”
With a foreword by Chairman and CEO of PepsiCo Indra Nooyi, Reverse Innovation offers a glimpse at strategies from some of the worlds leading companies—from EMC and Deere & Company, to P&G and Logitech. There is no one industry that needs to reverse innovate; instead, all industries must have interest in the needs and opportunities in the developing world in order to thrive in tomorrows global marketplace.
In the book, GE Chairman and CEO Jeff Immelt points out the stark implications for companies who ignore reverse innovation: “If we dont come up with innovations in poor countries and take them global, new competitors from the developing world…will. Thats a bracing concept. GE has long had tremendous respect for traditional rivals…But we know how to compete with them. They will never destroy GE. The emerging giants, on the other hand, very well could.”
This book offers a guide to changing both the mindset and management model in your company to execute on this important strategic initiative.
New York Times, Wall Street Journal, USA Today, Amazon and Barnes and Noble Bestseller
The gap between rich nations and emerging economies is closing. As a result, the global dynamics of innovation are changing. No longer will innovations traverse the globe in only one direction, from developed nations to developing ones. They will also flow in reverse.
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—for nations, for companies, and for individuals. The authors focus in particular on a traditional pillar of rich-world economic vitality: successful and long-established multinational corporations. All are now seeking explosive growth in emerging economies, and all must learn new tricks in order to succeed.
Reverse Innovation shows leaders and senior managers how to make innovation in emerging markets happen, and how such innovations can unlock opportunities throughout the world. The book highlights the tribulations and triumphs of some of the worlds leading companies (including GE, Deere and Company, P&G, and PepsiCo), illustrating exactly what works and what does not.
The new reality is that the future lies far from home. Whether you are a CEO, financier, strategist, marketer, scientist, engineer, national policymaker, or even a student forming your career aspirations, reverse innovation is a phenomenon you need to understand. This book will help you do that.
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, youd 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 worlds 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. Youll follow some of the worlds leading companies (including GE, Deere and Company, P&G, and PepsiCo) through stories that illustrate exactly what works and what doesnt.
If youre 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.
About the Author
Vijay Govindarajan is the Earl C. Daum 1924 Professor of International Business at the Tuck School of Business at Dartmouth College, and the first Professor-in-Residence and Chief Innovation Consultant at General Electric. He ranked third in the recent Thinkers 50 list of the greatest management thinkers in the world. Chris Trimble, a well-known innovation speaker and consultant, is also on the faculty at Tuck.
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