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Rama Velamuri
Innovation in Emerging Markets
– How emerging market companies rethink
innovation and what we can learn from them
15. Juni 2010 | 8:00 – 10:00 Uhr | Ort:
Bundesministerium für Wirtschaft, Familie
und Jugend, Wien
Rama Velamuri explained why
the emerging world is no longer a mere source
of cheap labour, but rivals the rich countries
for business innovation and how it is reinventing
systems of production and distribution and experimenting
with entirely new business models. He showed
why emerging markets are now fertile sources
of innovation and what Western companies can
learn from companies there.
Old assumptions about innovation
are being challenged. People in the West like
to believe that their companies cook up new
ideas in their laboratories at home and then
export them to the developing world. But this
is proving less true by the day. Western companies
are embracing “polycentric innovation”
as they spread their R&D centres around
the world. And companies in emerging countries
are becoming powerhouses of innovation in everything
from telecoms to computers. A reason for this
development lies in the fact that the very nature
of innovation needs to be rethought. Innovation
cannot be equated only with technological breakthroughs,
embodied in revolutionary new products that
eventually trickle down to the masses. Many
of the most important innovations consist of
incremental improvements to products and processes
aimed at the middle or the bottom of the income
pyramid.
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