Changing the Management Model: Fostering Reverse Innovation Through Local Growth Teams

Description

Chapter 4 of "Reverse Innovation: Create Far from Home, Win Everywhere" shows you how to pursue specific projects in order to capitalize on the global shift of innovation to the developing world and take advantage of the opportunities those innovations represent in the developed world. This chapter also explains the importance of "local growth teams" that can leverage global resources to create clean-slate innovations in emerging markets. The chapter also includes "The Reverse Innovation Playbook," which summarizes the most crucial action items from the first four chapters of the book. *About the book:* A New York Times, Wall Street Journal, USA Today, Amazon, and Barnes & Noble bestseller. The gap between rich nations and poorer ones 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 on successful and long-established multinational corporations, which are seeking explosive growth in emerging economies and must now 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 world's leading companies (including GE, Deere & Company, P&G, and PepsiCo), illustrating exactly what works and what does not. Whether you're a CEO, a financier, a strategist, a marketer, an engineer, or even a student forming your career aspirations, reverse innovation is a phenomenon you need to understand. This book will help you do just that.

Keywords

Emerging markets International business Reverse innovation Teams