Here's a short primer on VG's concept of reverse innovation strategy: (from Reverse Innovation; Create Far From Home, Win Everywhere by Vijay Govindarajan and Chris Trimble) as well as a link to the full interview. Additionally, you can download a chapter from this book from the side column on this page.
1. To capture growth in emerging markets, you must innovate, not simply export.
2. Leverage opportunities to move emerging-market innovations to other parts of the world: to other poor countries, to marginalized markets in rich countries, and, eventually, to mainstream markets in rich countries.
3. Keep so-called emerging giants on your radar screen. These small but rapidly growing companies, headquartered in the developing world, have global aspirations that could one day threaten your own.
What are the different needs of countries and how can corporations employ reverse innovation to take advantage of such markets? Vijay Govindarajan shared his views on the subject with Business Standard at the Reverse Innovation Meets Medici Effect, held by Strategic Human Resource Management to discuss changing global markets and demand.
Aravind Eye Care System and the Tuck Executive Program Experience
Vijay Govindarajan (VG)
Thought Leadership Download
Reverse Innovation: Create Far From Home, Win Everywhere (Full Chapter)