A recent study (400 companies) on global innovation by Booz & Company found that the most innovative companies (seven out of 10 top innovators) were not necessarily the biggest spenders on innovation. The top 10 innovators are: Apple Google 3M GE Toyota Microsoft P&G IBM Samsung Intel Building right innovation capabilities not mere Spending What [...]
Innovation Management
Reverse Innovation – Definition and Examples
What is Reverse Innovation? Reverse Innovation is the strategy of innovating in emerging (or developing) markets and then distributing/marketing these innovations in developed markets. Many companies are developing products in emerging countries like China and India and then distributing them globally. Who coined or introduced the ‘reverse innovation’ concept? Vijay Govindarajan. He is the Earl [...]
P&G’s Connect and Develop Strategy for Innovation
Reinventing P&G’s innovation business model P&G’s old strategy for innovation was based on the invention model where innovation comes from within the company – ‘invent it ourselves’ model. Earlier, innovation at P&G meant building global research facilities and having the best talent in the world develop unique products or inventions. But with the times and [...]
Case Studies on Innovation Management
A case study is a written or recorded, detailed analysis of some targeted management issues, for the purpose of noting success or failure to used as a benchmark for education, research, and/or planning. A case study is an in-depth exploration of one particular case (situation or subject) for the purpose of gaining depth of understanding [...]
McDonald’s International Innovations
July, 2009 – Strategic Management, Innovation Article McDonald’s, the fast-food retailing giant has a proven formula for doing well in a recession – courting consumers globally by targeting local tastes with global menus. McDonald’s has expanded its global appeal which has resulted in good results, even though almost every type of industry is seeing widespread [...]