Monday, November 06, 2006

The importance of innovation

CK Prahalad in 'The Fortune at the Bottom of the Pyramid':
Because innovations for the BOP markets challenge our established ways of thinking, BOP markets can become a source of innovations for the developed markets as well. Innovation in BOP markets can reverse the flow of concepts, ideas, and methods. Therefore, for an MNC that aims to stay ahead of the curve, experimenting in BOP markets is increasingly critical. It is no longer an option.
Usually, one thinks of the BOP market as deserving of only old technology that is of no use to the urban or elite, but the BOP has need to innovation and technology too, but it just needs to be focused on the right factors that are required in that market.

No comments: