This quote perfectly captures the essence of 𝘁𝗿𝘂𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻. In hindsight, the best innovations seem so obvious, but at the time, no one thought to pursue them or recognize their potential. Take the 𝘀𝗵𝗶𝗽𝗽𝗶𝗻𝗴 𝗰𝗼𝗻𝘁𝗮𝗶𝗻𝗲𝗿 as an example. It’s now a fundamental piece of global commerce—we can’t even imagine trade without it. But when 𝗠𝗮𝗹𝗰𝗼𝗹𝗺 𝗠𝗰𝗟𝗲𝗮𝗻 first introduced it, he faced fierce resistance. Today, it’s impossible to overstate its impact. In the 𝗠𝗮𝗿𝗶𝘁𝗶𝗺𝗲 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆, we are standing at a similar crossroads. There are 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻𝘀 being resisted today that, a few years from now, will be seen as the 𝗻𝗲𝘄 𝘀𝘁𝗮𝗻𝗱𝗮𝗿𝗱—the "obvious" solution everyone was waiting for. What innovations do you believe will transform our industry and be the next "obvious" in the future? Share your thoughts in the comments.
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Embracing Reverse Innovation: A Strategic Shift for Global Markets 🌍 The concept of "Reverse Innovation" is rapidly gaining traction among multinational corporations and startups alike. But what exactly is Reverse Innovation? 🔄 Reverse Innovation refers to the strategy where products or services are developed first for use in developing nations and then adapted for more developed markets. Unlike traditional innovation strategies that cater to developed countries and then trickle down to emerging markets, Reverse Innovation flips this approach on its head. 🔍 Why is Reverse Innovation Important? - Cost-Effectiveness: Innovations designed in and for low-cost environments can significantly reduce costs, making them highly competitive in global markets. - Market Expansion: It allows companies to tap into new markets by addressing unique needs that might be overlooked in wealthier nations. - Enhanced Local Relevance: Solutions developed within local contexts are directly tailored to the specific needs and constraints of those markets, increasing their effectiveness and uptake. 📈 Successful Examples: 1. **GE’s Portable ECG Machines**: Originally developed for rural India, these low-cost, portable ECG machines were a hit and subsequently introduced to Western markets, revolutionizing access to essential diagnostic tools in resource-limited settings. 2. **Nestlé’s Maggi Noodles**: Tailored initially for the Indian palate with localized flavors and packaging, these products have found popularity in diverse markets worldwide. 🚀 **Looking Forward**: As businesses continue to recognize the vast potential of emerging markets, Reverse Innovation not only offers a pathway to unlock this potential but also drives sustainable practices by prioritizing affordability and accessibility. 🔗 **Embrace the Future**: Companies aiming to stay ahead in the global innovation race should consider how Reverse Innovation could be part of their strategy to meet diverse consumer needs across the globe. #Innovation #BusinessStrategy #GlobalMarkets #ReverseInnovation 💬 Have you seen examples of Reverse Innovation in your industry? Share your thoughts and experiences in the comments below! Let’s discuss how reverse innovation is shaping the future of global business strategies.
The Explainer: Reverse Innovation
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Coopetition is a coined name that emphasizes the importance of strategic alliances between competitors. (Also known as open innovation) It also remind us that innovation does not happen solely on a single player. (The dilemma of innovating in silos) One interesting observation is that coopetition is a convenient approach to regulate a market without human intervention. This in turns will help economy by GDP as innovation strikes due to fewer regulations which can impede innovation unintendedly. Innovation as a strategy’s DNA is a one trait of a winning growth strategy. #growth_strategies #innovation
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Growth comes from innovation. Innovation comes from imagination. Here’s how you can harness it → https://bit.ly/3TyxKXf
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Market Leaders need to innovate non-stop. Innovations will be copied by competitors, faster than it took the leader to create. Hence a leader’s ‘innovation road map’ must look denser than his ‘innovation history’.
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Innovation isn't confined to the boundaries of current technology or existing processes. It's deeply intertwined with the stories we envision, the fantasies we entertain, and the futures we dare to imagine. When we allow ourselves to be inspired by science fiction or the quiet musings of our imagination, we're not merely daydreaming—we're sketching the outlines of tomorrow's possibilities. Why should our inspiration be shackled by the known and the familiar? True breakthroughs often emerge from the unexpected—a poignant phrase in a novel, an evocative scene from a film, or a seemingly mundane chat that suddenly unveils a new perspective. By welcoming a myriad of creative influences, we sow the seeds for innovation that can flourish in unforeseen ways. Innovation truly blossoms in the garden of collaboration. When diverse minds converge—each bringing its unique flavor of experience, insight, and vision—the result is a rich mosaic of ideas, more nuanced and vibrant than any solitary endeavor could yield. It's in this symphony of voices that groundbreaking solutions are born. Our creative endeavors today are the architects of tomorrow. With each innovation, we're not just addressing present challenges but also shaping the legacy we leave for future generations. It's our responsibility to ensure that our inventions advocate sustainability, inclusivity, and the collective well-being, crafting a future that's resilient and flourishing for all. #Innovation #Creativity #FutureThinking https://lnkd.in/eATEUKaZ
Harnessing Imagination to Drive Innovation
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🌟 Disruptive Innovation is a term coined by Clayton Christensen that is often used to describe technological innovations. 🫣 Clayton never meant it to describe technological innovations but processes based on innovative business models. 👉 "Disruptive innovation, a term of art coined by Clayton Christensen, describes a process by which a product or service takes root initially in simple applications at the bottom of a market and then relentlessly moves up the market, eventually displacing established competitors." 🤔 Theories and models are the best way we have to predict the future. The theory of disruptive innovation predicts that market disruption will almost always come from the bottom by new entrants. 👉 On a global scale we see how in the 70s-80s Japan disrupted the West with its production and tech innovations. Then, in the 90s it was China with its industrial production. 🙏 The International Conference On Business Models In Agriculture (#IBMA) dedicates its activity to the memory of Clayton Christensen. 👉 We believe that disruption will come to the global agricultural sector as Clayton predicted, from the bottom, i.e., developing economies, thanks to innovative business models. 💡 Tomorrow the IBMA Conference 2024 opens. I welcome those who will attend it and wish us breakthroughs on the way to the needed disruptive innovations that will create a better future reality for hundreds of millions of smallholders and overall will make our place a better place to live in.
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𝗧𝗜𝗣 𝗙𝗢𝗥 𝗦𝗘𝗟𝗟𝗜𝗡𝗚 𝗜𝗡𝗧𝗢 𝗖𝗢𝗥𝗣𝗢𝗥𝗔𝗧𝗘𝗦 Highlight Innovation: Show how your product or service offers innovative solutions compared to traditional approaches. #b2bsales #sellingintocorporates #businesstips
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Businesses know that growth is essential to long-term value creation. Unfortunately, growth can stagnate during challenging economic conditions. If you need to stoke your innovation engine, consider this six-step cycle to drive imagination and inspire new possibilities. #Innovation #BusinessSuccess #HBR
Harnessing Imagination to Drive Innovation
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What is innovation? On Friday night, The Innovation Awards will be celebrating all things innovative, with finalist and winners providing solutions, services and products across a whole range of sectors and disciplines - manufacturing, engineering, sustainability, tech… Tantamount believe that innovation can be key to business success and we have been sponsors of the Awards for several years now. But in conversations with clients and other businesses, we find that there is still disagreement and uncertainty about what counts as innovation. Why not pop over to our website and read the article “Exploring innovation” https://lnkd.in/exd94ZpD to discover more about what innovation is, how it doesn’t necessarily entail the invention of something completely new, why having a great idea isn’t enough, and the important role that diversity plays? Whatever stage your innovation is at and whoever needs to know about it, whether you’re looking to take it to investors or ready to put it in front of the final customer, the fact that it’s innovative may make it hard to explain. If you have an innovative idea or approach that you’d like help communicating, we’d love to talk to you, so do get in touch. You can learn more about the Awards and the finalists in this year’s digital brochure: https://lnkd.in/e2QjfBer #Innovation #Creativity #BusinessSuccess #CreativeThinking #InnovationAwards2024 #Innovation24 #TSC #TechnologySupplyChain
Exploring innnovation
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President at Institute of Chartered Shipbrokers | Executive Advisor, FrontM | Visiting Lecturer on "Geopolitics & Shipping"
1moJuan J. Gil - this is a constant process and not just restricted to shipping industry. However if you look back at all the innovations, they were only possible due to either a “carrot” or a “stick”, that is either they are incentivised or regulated. For the first time, the influx of non-shipping actors into the solving industry pain points presents a fantastic opportunity to break the traditional carrot and stick approach!