Harvard Business Review: This week, I’ll be reviewing the highlights of the October issue of the Harvard Business Review. Worth the read if you’re interested in managing risks in an uncertain economy. Suggest subscribing, especially for senior, strategic teams. Here’s THIRD the in a series of posts:
How GE is Disrupting Itself by Jeffrey Immelt, et al.
Reverse Innovation is GE’s new strategy. Instead of developing products in the US and then exporting them to, for example, China and India—GE is now doing the reverse. Using Local Growth Teams (LGT’s), GE now develops innovative and cost effective products in robust-market countries like China and India and then importing them into the US—reverse innovation. If not, Immelt feels that new global competitors will take away market share from GE. At the same time, low cost, effective solutions are rolled out for these countries and the US as well.