Bringing Strategy Back: How Strategic Shock Absorbers Make Planning Relevant in A World of Constant Change

Foreword

Historically, innovations have originated in rich developed countries in the West and later flowed downhill to the populous developing world. But it is also possible for innovations to originate in poor countries and trickle up to the wealthier world. This is what I've termed reverse innovation.

I initially became interested in reverse innovation during a two-year stint as Professor in Residence and Chief Innovation Consultant at General Electric. At the time, GE CEO Jeff Immelt had put a stake in the ground to grow the company organically by meeting the needs and budgets of customers in heavily populated developing markets. As part of that plan, GE went on to introduce revolutionary new product adaptations—a $1,000 handheld electrocardiogram ...