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Past Issue • Jan-Mar 2016

Innovation and Growth Strategies for Global Markets

Innovation and Growth Strategies for Global Markets

The war chest of a global strategist is bestowed with varied innovative growth strategy arsenal to win and conquer the global battles of business. This article captures a dozen lessons that deserve attention in strategy development. As a strategist your innovation is to embrace one or a combination thereof to succeed.

What is innovation?
Innovation, sans jargon, simply means ‘doing things better’. Innovation is not invention. Henry Ford did not invent the car (Karl Benz did!). His innovation was the assembly line. As a result, one Model T came off the line every three minutes thereby reducing overall production time by a factor of eight; from 12.5 hours to just 93 minutes. By 1914, with streamlined assembly processes, Ford could make more cars than all other automakers combined, each at a much lower cost. Innovation is not just technology. It’s rethinking business! Henry Ford saw the “business opportunity” of meeting huge unmet demand for cars through the innovative assembly line process.

ABOUT THE AUTHORS

  • Guest-Editor

    Rajendra Srivastava

    Dean and Novartis Professor of Marketing Strategy and Innovation at the Indian School of Business (ISB). His research interests include Marketing Strategy, Marketing Metrics, and Brand/ Customer Management. His current work focuses on Business Model Innovations, especially in Services, B2B, Technology and Emerging Markets.
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