Do you have reverse innovation in your strategic plan? If you haven’t 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 world’s 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 tomorrow’s global marketplace.
In the book, GE Chairman and CEO Jeff Immelt points out the stark implications for companies who ignore reverse innovation: “If we don’t come up with innovations in poor countries and take them global, new competitors from the developing world…will. That’s 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.
Named a Best Business Book for 2012 in strategy+business magazine "Whether you are an executive of a global company or you are simply interested in innovation among cultural differences, creativity, and diversity, this is a lovely and persuasive read." -- Business Insider "In Reverse Innovation: Create Far from Home, Win Everywhere, Vijay Govindarajan and Chris Trimble make a compelling argument for companies to not just widen their lens, but shift it to a completely different context-- that of developing economies." -- strategy+business magazine "This lovely, persuasive work couples the focused repetition of a good textbook with the lively style of an entertaining article." -- Directorship (South Africa) "Highly recommended... released this year to a chorus of approval from global business leaders this book explains the way in which the flow of innovation has changed... Reverse Innovation shows senior managers how to make innovation in emerging markets happen, and how these innovations can unlock business opportunities on a global scale - using real-life case studies to illustrate the theories." -- Business Executive "The book presents its ideas clearly, with about half devoted to the general concepts and the other half to case examples of companies such as GE, Procter & Gamble and PepsiCo, which are leading the way in reverse innovation. If your company can benefit from reverse innovation -- or might suffer from it--the book is well worth reading." -- Globe & Mail "...a book that offers provocative insights into the quickly changing dynamics of the global economy." "The book is rich with examples..." -- The Wall Street Journal "In Reverse Innovation, [the authors] argue that...western businesses must similarly learn new tricks from their emerging markets. It is an idea that they have been championing for years and which has become increasingly fashionable." -- The Financial Times "The book, an extension of a 2009 Harvard Business Review article that Govindarajan and Trimble co-authored with General Electric CEO Jeff Immelt, reads like a how-to guide for executives looking to innovate beyond the U.S. and Europe...It's a useful and even inspiring read for any executive who cares about the future of business innovation." -- Fortune.com "Reverse Innovation is a must read for anyone seeking to participate in emerging markets, be they CEOs of multinationals, leaders of NGOs, or government policy makers." -- Stanford Social Innovation Review "This accessible new book...provides a clear evaluation of the issues faced and expert advice on how to implement a reverse innovation strategy." -- Developing Leaders "Govindarajan [and Trimble] writes about how reverse innovation is rapidly changing the way companies think and how that's affecting the way they look at markets." -- Fortune (India) "This insightful book makes a compelling case for the developing world supplying the strongest emerging market of the new century." -- Publishers Weekly "This is a fascinating book for anyone interested in how concepts of innovation need to change in order to succeed, and an even more important book for those who can actually take part on the level the authors advise." -- 800 CEO READ "A well-researched and thoughtful book." -- The Irish Times "This book shows how, counter-intuitively, there are many circumstances when business models and products developed in emerging markets can provide new opportunities in rich economies also." -- Forbes.ru ADVANCE PRAISE for Reverse Innovation: Jeffrey R. Immelt, Chairman of the Board and Chief Executive Officer, General Electric-- "Govindarajan and Trimble offer a framework for the next phase of globalization." Robert A. McDonald, Chairman of the Board, President and Chief Executive Officer, The Procter & Gamble Co.-- "Reverse Innovation is a playbook for leaders who want to unlock growth in emerging markets." William D. Green, Chairman, Accenture-- "Innovation knows no geographic boundaries. This book is a defining work on how we invest and engage the future." Omar Ishrak, Chief Executive Officer, Medtronic, Inc.-- "Unique and important work, hard-hitting examples, detailed and actionable steps, and clear explanations." Ajay Banga, President and Chief Executive Officer, MasterCard-- "As the world's economic center of gravity continues to shift--and as new consumers continue to emerge--it's clear that the logic and business practices that drove yesterday's success won't drive tomorrow's." Peter F. Volanakis, Former Chief Operating Officer, Corning Technologies-- "I wish I had this book ten years ago."