The Vijay Govindarajan Video Series Week 13
In 2012, VG’s book (co-authored with Chris Trimble) Reverse Innovation was published. It became a New York Times, Wall Street Journal, USA Today and Amazon bestseller.
This week’s edition of the Thinkers50 Vijay Govindarajan Breakthrough Innovation with the Three Box Solution video series brings the concept of reverse innovation to the Three Box framework and demonstrates how it is a great example of Box 3 thinking.
Traditionally, innovation has been viewed as something that happens in rich countries, with its results exported to emerging markets. After all, it is easy to see why a poor man would to buy something that a rich man has got, says VG.
To conceive that a rich man might want something that was a product of innovation in a poorer country, however, is more difficult and counter-intuitive.
But emerging markets, VG explains, present an excellent opportunity for non-linear innovation and reverse innovation – exporting innovations from poor to rich countries – creates Box 3 opportunities in just about any industry including healthcare, micro-finance, and manufacturing.
In Video 19: Introducing Reverse Innovation we are taken through some real-life examples of reverse innovation, and learn how reverse innovation is one of the stars of the Three Box Solution.
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