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Tapping the World's Innovation Hot Spots
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Tapping the World’s Innovation Hot Spots
John Kao – Harvard Business Review
Ross Dick
Nick Ellis
Melody Smith Jones
Presented By-: Naval BhushaniaJGI IDEA
Systems Integration Mix & Match Approach
Changing dynamics of global innovation: What are the implications of this new “Innovation World”?
Systems Integration Approach: companies can take advantage of the differences in national environments through innovation arbitrage
Four Innovation Models: some exist in pure form while others are a component of a nation’s overall innovation strategy
Mix & Match: Choose from among the following models and/or blend country and corporate strategies
Model 1 – The Focused Factory
• What is a “focused factory”• Clear strategic intent• Infrastructure• Talent
• Examples:• Denmark• Singapore – Biopolis and Fusionopolis
• Who Benefits?
• Key Players:• GlaxoSmithKline (GSK)• Novartis
Model 2 – Brute Force
• What is “Brute Force”• Large source of low-cost labor• Innovation opportunities• Law of Averages
• Examples:• China• India
• Who Benefits?
• Key Players:• Microsoft• Berkshire Hathaway
Model 3 – Hollyworld
• What is a “Hollyworld”• Forming a global creative class (Silicon
Valley effect)• Developing an enticing innovation
destination
• Examples: • India – Indian Institutes of Technology grads
merged w/ Indian US Tech school grads • Singapore – Funding life-science grad students
• Who Benefits?
Model 4 – Large-Scale
Ecosystems
• What is a “Large-Scale ecosystem”• End to end innovation systems
• Stewardship, funding bodies, Research Institutions, academia, etc.
• Self-contained environments• Alliance-management skills needed
• Example:• Finland – Focus on education, science, &
technology (Aalto)
• Who Benefits?
Driving Forces
of Global Innovation 1) Innovation as a currency of global competition – pursuing the “global dream”; countries in-source American culture
2) Global war for talent – talented young innovators can be attracted anywhere through incentives and opportunities
3) Innovation as a national agenda – nations increasingly embrace innovation as a national priority
4) Power of networks – global networks are becoming increasingly intertwined
Are you ready for innovation world?
• Understand emerging models of innovation
• Knit together different strengths within and outside the firm’s walls
• Cultivate relationship building skills and alliance management in order to become a trusted members of the local community