Today's high-growth hot spots are all in the developing economies, which will account for a jaw-dropping two-thirds of global economic growth over the next generation. Such facts and figures are now a preoccupation in many boardrooms. What is less well understood is what it will take to win.
For decades, most global corporations have followed a simple strategy: Create great products and services for home markets, and then export them. It has worked well enough in the past, but it is goo enough no longer. The needs and opportunities in the developing world are just too distinct.
As a result, corporations must learn a new trick: Reverse Innovation. They must learn to innovate in the emerging economies, and then bring the innovations home.
“Genius is one percent inspiration, ninety-nine percent perspiration.”
Thomas Edison said it over a century ago. Nobody listened.
When companies launch innovation initiatives, they focus almost all of their time and energy on that initial one percent — the thrilling hunt for the breakthrough idea. They draw guidance from countless books and articles that treat innovation as though it is synonymous with creativity.
It is not. The reality is that an idea is only a beginning. Innovation is not just the much-anticipated light-bulb moment. It is also a long, hard journey — from imagination to impact.
We can’t wait for policy makers on Capitol Hill to save our troubled health care system. Instead, we need a new generation of health care leaders -- physicians and executives alike -- that are ready to remake the system from the grass roots, through innovation and entrepreneurship. While health care may seem impossibly complex, the reality is that it is hard to walk more than ten yards without tripping over an idea or an innovative pilot project with tremendous potential. This presentation will show why these pilots so rarely achieve full potential, and what to do about it.