Benefits of Reverse innovation
Innovation is understood as the successful commercialization of unique ideas, including products, services, processes and business models. It is a critical element of economic progress of any country. A reverse innovation is unfamiliar but dominant concept that entails any innovation espoused first in the developing countries. Reverse Innovation basically denotes to any modernisation that is first hosted in the developing countries like India which later implemented in industrialized marketplace. Reverse Innovation is also called as Trickle-up Innovation. Reverse innovation will transform just about every industry, including energy, healthcare, transportation, housing, and consumer products. Reverse Innovation is effective strategy of innovating in incipient markets and then distributing/marketing these innovations in advanced markets. Many companies are engrossed in innovating products such as China and India and then dispensing them internationally. Factually, reverse inno...