{"id":707,"date":"2024-06-01T11:01:51","date_gmt":"2024-06-01T11:01:51","guid":{"rendered":"https:\/\/vidwaan.simapt.com\/cxo-blog\/?p=707"},"modified":"2024-06-01T11:01:52","modified_gmt":"2024-06-01T11:01:52","slug":"dimension-of-reverse-innovation-to-businesses","status":"publish","type":"post","link":"https:\/\/vidwaan.simapt.com\/cxo-blog\/dimension-of-reverse-innovation-to-businesses\/","title":{"rendered":"Dimension of Reverse-Innovation to Businesses"},"content":{"rendered":"\n<div class=\"wp-block-group is-nowrap is-layout-flex wp-container-core-group-is-layout-1 wp-block-group-is-layout-flex\">\n<p>Author: Shantha Martin<\/p>\n\n\n\n<ul class=\"wp-block-social-links is-layout-flex wp-block-social-links-is-layout-flex\"><li class=\"wp-social-link wp-social-link-linkedin  wp-block-social-link\"><a href=\"https:\/\/www.linkedin.com\/in\/shantha-martin-09a943169\/\" class=\"wp-block-social-link-anchor\"><svg width=\"24\" height=\"24\" viewBox=\"0 0 24 24\" version=\"1.1\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M19.7,3H4.3C3.582,3,3,3.582,3,4.3v15.4C3,20.418,3.582,21,4.3,21h15.4c0.718,0,1.3-0.582,1.3-1.3V4.3 C21,3.582,20.418,3,19.7,3z M8.339,18.338H5.667v-8.59h2.672V18.338z M7.004,8.574c-0.857,0-1.549-0.694-1.549-1.548 c0-0.855,0.691-1.548,1.549-1.548c0.854,0,1.547,0.694,1.547,1.548C8.551,7.881,7.858,8.574,7.004,8.574z M18.339,18.338h-2.669 v-4.177c0-0.996-0.017-2.278-1.387-2.278c-1.389,0-1.601,1.086-1.601,2.206v4.249h-2.667v-8.59h2.559v1.174h0.037 c0.356-0.675,1.227-1.387,2.526-1.387c2.703,0,3.203,1.779,3.203,4.092V18.338z\"><\/path><\/svg><span class=\"wp-block-social-link-label screen-reader-text\">LinkedIn<\/span><\/a><\/li><\/ul>\n<\/div>\n\n\n<div class=\"wp-block-post-date\"><time datetime=\"2024-06-01T11:01:51+00:00\"><a href=\"https:\/\/vidwaan.simapt.com\/cxo-blog\/dimension-of-reverse-innovation-to-businesses\/\">June 1, 2024<\/a><\/time><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong><em>The COVID experience has caused a paradigm shift in the choices we will make <\/em><\/strong><\/p>\n\n\n\n<p>The existence of the human race, is a story of survival; in the midst the vagaries of our existence, we have innovated and we have evolved. The unexpected vicissitudes has always brought with itself lessons, which have caused a paradigm shift in behavior; be it our daily routine, our lifestyles, our choices and in the way we conduct the businesses of our life.&#8221; Keeping this dimension of change simple for a management undergraduate and limiting it to a business scenario, we need to open up a new chapter. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Innovation &#8211; Reverse Innovation: <gwmw style=\"display:none;\"><\/gwmw><\/h2>\n\n\n\n<p><strong>&#8216;Value for many &#8211; is about doing more with less, for more people&#8217;<\/strong> <\/p>\n\n\n\n<p>While innovation has been the heart of every successful business, the concept of Reverse Innovation becomes more of a driving force in the &#8220;Pandemic affected world of today&#8221; This idea was brilliantly thought through by Vijay Govindarajan in 2019. The idea of Reverse innovation posits the transportation of innovation from developing countries to the developed countries. <\/p>\n\n\n\n<p>This idea is very apt in the scenario of today, where certain dominant markets catering to manufacturing, e.g. China will no more be able to cater the countries, which until yesterday were so dependent on it. This is going to increasingly lead developing countries innovating to first cater locally and then transport to the rest of the world through reverse innovation. <\/p>\n\n\n\n<p>While the pre-pandemic world saw a fast pace of &#8220;Globalization&#8221;, the Global companies are now supporting the idea of local outlook while maintaining their global ownership &#8211; <strong>&#8220;Glocalisation&#8221;<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">So the change is from &#8220;Globalization to Glocalisation to Local Innovation to Reverse Innovation.&#8221; <gwmw style=\"display:none;\"><\/gwmw><\/h2>\n\n\n\n<p><strong>Highlighted below are macro shifts that will take place in the business scenario and the consumer behaviour: <\/strong><\/p>\n\n\n\n<ol>\n<li>Changes in Employment contracts <\/li>\n\n\n\n<li>Increased Focus on Digital Commerce <gwmw style=\"display:none;\"><\/gwmw><gwmw style=\"display:none;\"><\/gwmw><\/li>\n\n\n\n<li>Financial Resource Management <\/li>\n\n\n\n<li>Leadership Style and Management practices <\/li>\n\n\n\n<li>Changes in Consumer Behavior <\/li>\n\n\n\n<li>Changes in Educational Behavior <\/li>\n\n\n\n<li>Changes in Health and Hygiene Behavior <\/li>\n\n\n\n<li>Relook at Supply Chain Management <\/li>\n\n\n\n<li>Redefinition of purpose <gwmw style=\"display:none;\"><\/gwmw><gwmw style=\"display:none;\"><\/gwmw><\/li>\n\n\n\n<li>Shift in the types and costs of Insurance <\/li>\n\n\n\n<li>Social coherence of people <\/li>\n<\/ol>\n\n\n\n<p>Also note that the new environment is getting shaped in a manner that it is slamming brakes on a trend that up until now had defined itself in terms of Globalization. Nowadays the central question discussed at all virtual board meetings of Corporates and Government deliberations is how to grapple with the short term consequences of dealing with business loss and turning on the ignition of the machinery that will rev the engines of economy once again. We&#8217;ll need to manage our workforce differently, with health and safety measures being given a priority and repairing the broken confidence. Dealing with the pessimism of the human resource is the most important challenge, we need to rise up to. <\/p>\n\n\n\n<p>All in all, we need to be highly cognizant of the decisions and choices we are making today, because these decisions and choices will dramatically affect our ability to accomplish the essential actions that will constitute the right response in the emergent &#8220;NEW&#8221;<gwmw style=\"display:none;\"><\/gwmw><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n<div class='watch-action'><div class='watch-position align-left'><div class='action-like'><a class='lbg-style1 like-707 jlk' href='javascript:void(0)' data-task='like' data-post_id='707' data-nonce='e29bf0fa73' rel='nofollow'><img class='wti-pixel' src='https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='Like' \/><span class='lc-707 lc'>0<\/span><\/a><\/div><div class='action-unlike'><a class='unlbg-style1 unlike-707 jlk' href='javascript:void(0)' data-task='unlike' data-post_id='707' data-nonce='e29bf0fa73' rel='nofollow'><img class='wti-pixel' src='https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-content\/plugins\/wti-like-post\/images\/pixel.gif' title='Unlike' \/><span class='unlc-707 unlc'>0<\/span><\/a><\/div> <\/div> <div class='status-707 status align-left'><\/div><\/div><div class='wti-clear'><\/div>","protected":false},"excerpt":{"rendered":"<p>The existence of the human race, is a story of survival; in the midst the vagaries of our existence, we have innovated and we have evolved. The unexpected vicissitudes has always brought with itself lessons, which have caused a paradigm shift in behavior; be it our daily routine, our lifestyles, our choices and in the way we conduct the businesses of our life.&#8221; Keeping this dimension of change simple for a management undergraduate and limiting it to a business scenario, we need to open up a new chapter. <\/p>\n","protected":false},"author":4,"featured_media":708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,70],"tags":[30,29,58,72,60,10,68,69,64,11,74,73,71],"_links":{"self":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts\/707"}],"collection":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/comments?post=707"}],"version-history":[{"count":1,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts\/707\/revisions"}],"predecessor-version":[{"id":709,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/posts\/707\/revisions\/709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/media\/708"}],"wp:attachment":[{"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/media?parent=707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/categories?post=707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vidwaan.simapt.com\/cxo-blog\/wp-json\/wp\/v2\/tags?post=707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}