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Strategies & Market Trends : India Stocks
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From: Julius Wong9/22/2009 7:43:53 AM
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GE’s Immelt Says ‘Reverse Innovation’ Needed for Global Growth
By Rachel Layne

Sept. 22 (Bloomberg) -- General Electric Co. and other U.S.-based multinational companies will see their growth depend on “reverse innovation,” or developing products in emerging countries such as China and India, GE Chief Executive Officer Jeffrey Immelt wrote in the Harvard Business Review.

Creating lower-cost or simple products in emerging markets for sale there or even in the U.S. may pre-empt new rivals, Immelt said today in an article co-written with Vijay Govindarajan and Chris Trimble, professors at Dartmouth’s Tuck School of Business. The process is the opposite of the tradition of developing technology in wealthy countries that requires expensive innovations and then marketing simple versions abroad.

bloomberg.com
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