{"id":10652,"date":"2022-03-14T07:46:14","date_gmt":"2022-03-14T12:46:14","guid":{"rendered":"https:\/\/flevy.com\/blog\/?p=10652"},"modified":"2022-03-11T11:49:36","modified_gmt":"2022-03-11T16:49:36","slug":"3-approaches-to-global-innovation","status":"publish","type":"post","link":"https:\/\/flevy.com\/blog\/3-approaches-to-global-innovation\/","title":{"rendered":"3 Approaches to Global Innovation"},"content":{"rendered":"

\"\"The current ever-changing and increasingly connected world demands taking an amplified approach to Innovation and Innovation Management<\/a>.<\/p>\n

The conventional method of innovating locally and distributing the product or service globally<\/a> is now being questioned more and more.\u00a0 Effortless availability of unparalleled knowledge, essential for Innovation, is one key factor in bringing the traditional approach into question.<\/p>\n

New approaches are now necessitated in order to take full advantage of the vast array of knowledge easily available across the globe.\u00a0 There are 3 approaches that are preferred more than others:<\/p>\n

    \n
  1. Staying Approach<\/strong><\/li>\n
  2. Visiting Approach<\/strong><\/li>\n
  3. Inviting Approach<\/strong><\/li>\n<\/ol>\n

    \"\"<\/a><\/p>\n

    The approaches are different because of the diverse scenarios faced by different companies.\u00a0 Even though these approaches attempt to address the subject in non-identical ways, the final purpose continues to be no different\u2014i.e., infusing a Global Innovation Culture<\/a>.<\/p>\n

    Let us examine the approaches in a little more detail.\u00a0\u00a0<\/strong><\/p>\n

    Staying Approach<\/strong><\/h2>\n

    This approach finds it crucial to immerse the operation in the local area while attempting to innovate.<\/p>\n

    Aspiration behind Innovation development, in quite a few instances, is to gain knowledge, information, knowhow, and technology that is, typically, deficient in the organization.\u00a0 Aim behind immersing in the local environment is to cultivate high quality networks, internal and external relationships, thus promoting Innovation.<\/p>\n

    In reality however, some companies even after spending a long time in a location do not get noticed and engaged.\u00a0 A major cause for such failures is dearth of partnerships.<\/p>\n

    Visiting Approach<\/strong><\/h2>\n

    Also dubbed the Travel approach, this method advocates keeping a distance as opposed to the Staying approach because complete immersion in a location has an adverse influence on Innovation.<\/p>\n

    Understanding the Visiting approach from a business management or sociological viewpoint is easier through the Network theory. \u00a0Theories underlying this approach contend that full immersion in a location deteriorates thinking and Innovation.<\/p>\n

    The theories further assert that a certain amount of distance allows combining their own outlook with that of the local area thus permitting knowledge, information, and knowhow from several regions.<\/p>\n

    The role of the knowledge-information broker becomes a key in such scenarios.<\/p>\n

    Inviting Approach<\/strong><\/h2>\n

    In place of visiting the Local area, this approach promotes Inviting Innovators from other organizations to foster a culture of Open Innovation<\/a>.\u00a0 This approach requires that visits should be terminated when attempts are made to take Innovation to the Global level.\u00a0 The basis of this approach is efficiency and the fact that any company going Global will have sufficient wherewithal to invite others to come to it.<\/p>\n

    This approach is not restricted to big corporations of the developed world only; rather it accommodates businesses of developing countries too.<\/p>\n

    This approach is often used by Second Mover companies who want to draw alongside the leaders.<\/p>\n

    Drawback in this approach is that it brings into the open the Innovative needs of the company and thus its vulnerabilities.<\/p>\n

    Global Innovation has both Local and Global Innovation aspects that pertain to Autonomy and Control.<\/p>\n

    Characteristic of Local Innovation is increased autonomy and scarce information-sharing with headquarters.\u00a0 Global Innovation proposes an amplified degree of information-sharing with HQ but it comes with the cost of losing autonomy as HQ starts to control more and more.<\/p>\n

    In the debate of Autonomy vs. Control, a mechanism to preserve information-sharing without reduced autonomy is essential for organizations aspiring to take their innovation to the global level.<\/p>\n

    There are 2 common methods used to strike a fine balance between Control and Autonomy:<\/p>\n

      \n
    1. In the 1st<\/sup> method, local operation takes the decision but headquarters maintains the classified information.<\/li>\n
    2. In the 2nd<\/sup> method, information moves to the local operations but headquarters makes the decision.<\/li>\n<\/ol>\n

      Interested in learning more about these approaches to Global Innovation?\u00a0 You\u00a0can download\u00a0an editable PowerPoint on 3 Approaches to Global Innovation<\/strong><\/a> here\u00a0<\/u>on the\u00a0Flevy documents marketplace<\/a>.<\/p>\n

      Do You Find Value in This Framework?<\/h2>\n

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      \u201cMy FlevyPro subscription provides me with the most popular frameworks and decks in demand in today\u2019s market.\u00a0 They not only augment my existing consulting and coaching offerings and delivery, but also keep me abreast of the latest trends, inspire new products and service offerings for my practice, and educate me in a fraction of the time and money of other solutions.\u00a0 I strongly recommend FlevyPro to any consultant serious about success.\u201d<\/p>\n

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      \u201cAs a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power.\u00a0 For us, it is an invaluable resource to increase our impact and value.\u201d<\/p>\n

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      \u201cFlevyPro has been a brilliant resource for me, as an independent growth consultant, to access a vast knowledge bank of presentations to support my work with clients.\u00a0 In terms of RoI, the value I received from the very first presentation I downloaded paid for my subscription many times over!\u00a0 The quality of the decks available allows me to punch way above my weight \u2013 it\u2019s like having the resources of a Big 4 consultancy at your fingertips at a microscopic fraction of the overhead.\u201d<\/p>\n

      \u2013 Roderick Cameron, Founding Partner at SGFE Ltd<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

      The current ever-changing and increasingly connected world demands taking an amplified approach to Innovation and Innovation Management. The conventional method of innovating locally and distributing the product or service globally is now being questioned more and more.\u00a0 Effortless availability of unparalleled knowledge, essential for Innovation, is one key factor in bringing the traditional approach into… 3 Approaches to Global Innovation<\/span><\/a><\/p>\n","protected":false},"author":110,"featured_media":10658,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[85,81],"tags":[2874,2846,2840,2,1474,1459,2872,2873,2870,2871],"class_list":["post-10652","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-organization","category-strategy","tag-3-approaches-to-global-innovation","tag-autonomy-vs-control","tag-global-innovation","tag-innovation","tag-innovation-culture","tag-innovation-management","tag-inviting-approach","tag-open-innovation","tag-staying-approach","tag-visiting-approach"],"_links":{"self":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10652","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/users\/110"}],"replies":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/comments?post=10652"}],"version-history":[{"count":8,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10652\/revisions"}],"predecessor-version":[{"id":10663,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/posts\/10652\/revisions\/10663"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media\/10658"}],"wp:attachment":[{"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/media?parent=10652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/categories?post=10652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/flevy.com\/blog\/wp-json\/wp\/v2\/tags?post=10652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}