Nov 15, 2005
Global Innovation Networks
The BusinessInnovation2005 blog posts an interview of Navi Radjou of Forrester Research where he states
US firms now generate $160 billion in revenue from overseas markets. But the 3 billion consumers in India, Brazil, and China have different needs than the 300 million US consumers. So US firms are forced to tap a global ecosystem of partners to design, build, and sell products and services that cater to the unique needs of emerging market consumers.
Forward-thinking CEOs have begun to map internal and external resources to the four value-delivery services in the Innovation Networks model: Inventor, Transformer, Financier, and Broker.
I agree with that view. With Indian pharma companies now moving to R&D to deliver new molecules, there exists a big possibility of drugs that are cheaper because the cost of researching and developing them is so low.
On a related thought, I have believed that there exist a certain kind of innovation that the context of society favors in a certain age. In most of the 20th century the focus was on new inventions. In the 80s and 90s the focus was on incremental process innovation. In the 90s we also saw the rise of business model innovation.
Is it already the time for a new innovation model? I had the fortune of listening to a webcast (ah the wonders of technology) to John Seely Brown more than a year ago. In it JSB talks about the digital culture and the way it changes the way we learn. Is it the time of Remix-Innovation?
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