Diving Into the New Innovation Landscape

Today when the business world asks where the next innovative product or process will come from, many people start looking East. Based on decades of interaction and interviews with privileged observers in Asia, the author starts by discussing four innovation trends that have been heavily influenced by the growing capabilities in the emerging economies of China, India and Southeast Asia. The sources of innovation have become much more dispersed, the lead user has become fragmented, innovation has shifted from technology to business models, and many innovations now come from simplifying or scaling down existing products or services. Then, the author considers the basic principles of good innovation management that apply across the board, focusing on four areas that require special attention in the emerging Asian context. Understanding the variations is important, he says, so that managers can begin to align their business strategies with each country¿s unique competitive advantages, and manage innovation in emerging economies accordingly.