Local for Global: Driving Innovation in Emerging Markets PPT

This PPT slide, part of the 24-slide Global Innovation Management Primer PowerPoint presentation, presents 2 key impacts of the "Local for Global" approach to innovation, focusing on Emerging Country Innovation and Open Innovation.

Emerging Country Innovation highlights the drive for innovation in developing nations. Companies in these regions often seek to elevate their technological capabilities and expertise by engaging with advanced institutions in developed countries. This collaboration is motivated by a perceived deficiency in local resources, prompting firms to leverage global knowledge and practices. The takeaway here is that emerging markets are actively pursuing innovation on a global scale, which can lead to significant advancements when they assimilate and adapt foreign knowledge back home.

Open Innovation, on the other hand, emphasizes the necessity of knowledge sharing across borders. It suggests that local innovation does not have to originate solely from a company's own subsidiaries. Instead, companies are encouraged to engage in open knowledge sharing to mitigate risks of stagnation. However, implementing this approach globally poses challenges, particularly in managing uncertainties that arise during collaboration. The slide points out that while open knowledge sharing can foster innovation, it is not without limitations, especially in contexts like mergers and acquisitions where competitive concerns may hinder transparency.

Overall, the content underscores the importance of both local and global perspectives in fostering innovation. Companies must navigate these dynamics carefully to harness the full potential of their innovation strategies. Understanding these elements can provide valuable insights for organizations looking to enhance their innovation capabilities in a global context.

This slide is part of the Global Innovation Management Primer PowerPoint presentation.

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