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Innovation strategies in emerging markets: what can we learn from Indian market leaders
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In this article, the authors compare the innovation strategies of five local market leaders in India on dimensions related to exploration and exploitation, internal and external sources, technology push and market-pull and product and process innovation.Abstract:
What role has innovation played in the leadership positions attained by local firms in emerging markets? What innovation strategies have these firms followed? This paper takes advantage of a natural experiment – the deregulation of the Indian economy – to investigate these questions. We compare the innovation strategies of five local market leaders in India on dimensions related to exploration and exploitation, internal and external sources, technologypush and market-pull and product and process innovation. This study establishes that innovation plays a key role in the leadership position attained by local leaders. These firms display a high degree of ambidexterity in both exploring and exploiting in parallel, an approach that is required to provide speed of response. External sources are tapped for knowledge and ideas, and this learning is integrated with internal innovation. Market exploration, particularly the development of products, services and business models that allow the companies to meet the affordability criteria of the mass market, plays an important role in the innovation strategy of these companies.read more
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References
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TL;DR: In this paper, the authors reflect on the trends and streams of open innovation, including globalization of innovation, early supplier integration, user innovation, and external commercialization and application of technology.
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Yadong Luo,Mike W. Peng +1 more
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TL;DR: A Tale of Two Countries: India and the Republic of Korea as discussed by the authors : Poverty, Inequality and Economic Reforms: Declining Poverty: The Human Face of Reforms 8 Inequality: A Lesser Problem III Macroeconomics 9 Deficits and Debt: Is a Crisis around the Corner? 10 The External Sector: On the Road to Capital Account Convertibility? 11 The Financial Sector: Why Not Privatize the Banks? IV Transforming India 12 International Trade: Carrying Liberalization Forward 13 Industry & Services: Walking on Two Legs 14 Modernizing Agriculture V The
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Managing technological development : lessons from the newly industrializing countries
TL;DR: In this article, the authors look at the technological development of the newly industrializing countries to draw some important lessons for firms and governments in other developing countries, and they make the best economic sense to combine foreign and local technological elements.
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