I talked in my first post about how emerging markets are changing innovation, and two publications this week focus attention on the same topic. The title of the latest edition of The Economist is “The new masters of management” and contains a 14 page special report on innovation in emerging markets. It points out that not only are companies from the developed world focusing increasingly on emerging markets for innovation, but also emerging market firms (eg Haier and Huawei from China) are moving in the other direction! They also talk about reverse innovation in terms of “frugal”, referencing the Tata Nano, the business model of Bharti Airtel and BYD’s ambition as not only a global supplier of batteries, but to be a global car company. Many of these innovations are not just about new products, but involve completely new business models.
“Nature herself makes the wise man rich.” Cicero
“We still do not know one-thousandth of one percent of what nature has revealed to us.” Albert Einstein
I had a wonderful break in Japan recently, and spent most time exploring Kyoto’s beautiful gardens and charming back streets (as well as a good quota of temples of course). There are many scenic gardens in the city – public and private, small and large – all beautifully designed and maintained. They are a perfect place for contemplation, which was often their original function. Indeed one of the more beautiful paths along the canal is called the “Philosopher’s Walk” and must be stunning in the full force of the April blossoms (I was a little early for this).