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Reverse innovation

All right, tech genius!

Today, we're talking about reverse innovation. It's like going back to the future, except instead of DeLoreans, we're using software development to bring emerging market products and services to developed markets.

En primera instancia, el negocio asegurador se caracteriza por su carácter de largo plaAccording to Harvard Business Review, reverse innovation is 'the

strategy of innovating in emerging

(or developing) markets and then distributing/marketing these innovations in developed markets.'

So instead of starting with

developed markets

and then trying to adapt products to emerging markets, we're flipping the script and starting in emerging markets and then bringing those products back to the developed world.

Now, I know what you're thinking: why would we want to do that? Well, according to an article in Forbes, companies that embrace reverse innovation can tap into new sources of innovation and talent, as well as new customer needs and preferences. By developing products in emerging markets, companies can identify and address unique challenges and opportunities that may not be present in developed markets. And by bringing those products back to developed markets, they can create new business models and competitive advantages.

But it's not just about creating new products. Reverse innovation can also help companies develop more efficient and effective processes. According to an article in the Journal of Business Strategy, companies that embrace reverse innovation can 'gain a better understanding of how to design products and processes that are optimized for low-cost, high-quality manufacturing in emerging markets.'

So there you have it, tech wizard!

Reverse innovation is all about

developing products

and services in emerging markets and then bringing them back to developed markets. By embracing reverse innovation, companies can tap into new sources of innovation and talent, as well as new customer needs and preferences.

So let's go back to the future and bring

emerging market innovation

to the developed world.

References:

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Incremental Innovation

Today, we're talking about innovation, alright? It's a buzzword that gets thrown around a lot in business, but what does it really mean? Well, there's a type of innovation called incremental innovation. It's not flashy, it's not gonna change the game overnight, but it can be the key to sustainable growth!

Envision

Prepare

Create

Grow