|By PR Newswire||
|January 14, 2013 12:07 AM EST||
MYSORE, Karnataka, January 14, 2013 /PRNewswire/ --
On Sunday, January 6, Vijay Govindarajan (popularly known as VG), the Earl C. Daum 1924 Professor of International Business at the Tuck School of Business at Dartmouth College, gave an enthralling lecture on "Reverse Innovation" to an audience of nearly 200 people at the MYRA School of Business. This inaugural MYRA-Distinguished Lecture was held at MYRA's newly inaugurated campus in Mysore. VG, author of the worldwide best seller Reverse Innovation, spoke on corporate strategy, emerging markets, and sustainability with close relevance drawn to the Indian context.
Throughout his lecture, VG referred to the growing disparity between "rich" nations and "poor" nations in terms of access to quality products. Through examples from healthcare and housing sectors, VG illustrated how Reverse Innovation - the idea that innovations should first be developed in and for emerging markets before spreading to the rest of the world - will dramatically change business and society.
VG started off with a picture of a typical electrocardiogram machine that costs around $50,000 in the United States with each scan amounting close to $100. He argued that in spite of a dire need for such a machine in rural India, the extreme cost, heavy weight, and reliance on electricity makes this a highly impractical and "useless" machine for Indians.
"Poor people have the same needs. Poor people have the same desires. Poor people have the same ambitions. Why can't they have the same access?," posed VG to the audience.
These questions led VG (Professor in Residence at General Electric) to work with GE Healthcare to design an ECG machine that costs just $500 - and only 10 cents per scan. This fantastic innovation is battery powered and weighs less than a can a Coca Cola, thus making it an extremely portable and cost-effective solution. The success of this innovation in rural India, he opined, has prompted healthcare professionals in the USA and around the world to take a new look at medical equipment design.
His next example showcased how Dr. Devi Shetty performs open-heart surgeries for $2,000 at Narayana Hrudayalaya in Bangalore as opposed to the $50,000 needed in the United States, simply by using innovative approaches and reducing unnecessary costs. He noted that despite the significantly lesser price, the quality was actually much higher. He explained, "Surgery needs to be of higher quality in India - because Indians typically have weaker hearts and the risk of post-operative complications from heavy air pollution is greater."
Through this example he stressed that, "Reverse Innovation is not about lowering costs. It is about delivering a lot more quality at more reasonable price points. It is about doing more - with a lot less."
Another example which supported this definition of Reverse Innovation came from Dr. Therdchai Jivacate, a Thai physician who creates artificial legs from recycled yogurt containers at just $30, which are more durable and robust than the $20,000 artificial legs available in the US. "While the $30 options may seem to be of poorer quality - they are in fact much better as they are designed to withstand unpaved roads, cross-legged sitting customs, agricultural labor, and other stresses of Thailand's environment," he stated - flabbergasting the audience.
VG also spoke on Reverse Innovation in Housing and the need to create affordable solutions for the 75 million homeless people in the world. He described the "$300 house," a concept he popularized through an article in the Harvard Business Review and explained that housing issues cannot be solved by taking American design approaches and stripping features to make them affordable for the developing world. "It's about designing it from scratch to fit the needs of the developing world," he said. "Applying the American dominant logic simply does not work. Companies shouldn't ask 'how can our products fit into the market?' but rather 'how can our products help the market?'."
To demonstrate the danger in "applying the dominant American logic," he spoke of Kellogg's efforts to sell cornflakes and other sugary cereals in India. In spite of aggressive marketing campaigns, Indian's simply did not buy the cereals. Prof. Govindarajan pointed out that Indians like their breakfasts hot, and pouring hot milk on cornflakes would inevitably lead to an unappetizing soggy mush. The Indian consumer simply will not buy into the idea of pouring cold milk on breakfast cereal!"
VG called for a drastic change in mindset which required big corporations to create novel, affordable, and useful solutions for the world's poor. "The need to Reverse Innovate has never been stronger," and he opined that this is going to define how corporations innovate, impact and eventually survive in the coming decades.
He concluded on a light-hearted note, referring to typical South Indian movies where heroes like Rajinikanth would always find unexpected and imaginative ways of rescuing their heroines from the villain, stating, "if India has to excel in innovation, we have to produce more Rajinikanths!"
The Reverse Innovation lecture was part of the launch of MYRA's Centre of Excellence in Sustainable Business Innovations (CESBI), which aims to create a world-class platform for entrepreneurs, academic researchers, students, policy-makers, NGOs, and corporations to collaborate on issues of sustainability and corporate responsibility.
About MYRA School of Business:
The MYRA School of Business is a newly established management institution in Mysore, India. Through a rigorous research-based curriculum, a distinguished faculty line-up, and an architecturally-acclaimed campus, MYRA aims to deliver an education that is unparalleled in Asia. MYRA will welcome its Founding Class in July 2013. To know more about MYRA's academic programmes, visit www.myra.ac.in. To know more about the MYRA Distinguished Lecture on Reverse Innovation, visit www.myra.ac.in/reverse-innovation-lecture.
Primary Media Contact: Ashwin Rao, [email protected], 91-900-8523333
Secondary Media Contact: Deepa Jaganath, [email protected], 91-953-5423333
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
Oct. 27, 2016 04:45 AM EDT Reads: 423
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 27, 2016 04:45 AM EDT Reads: 2,867
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that cl...
Oct. 27, 2016 04:30 AM EDT Reads: 454
Donna Yasay, President of HomeGrid Forum, today discussed with a panel of technology peers how certification programs are at the forefront of interoperability, and the answer for vendors looking to keep up with today's growing industry for smart home innovation. "To ensure multi-vendor interoperability, accredited industry certification programs should be used for every product to provide credibility and quality assurance for retail and carrier based customers looking to add ever increasing num...
Oct. 27, 2016 04:00 AM EDT Reads: 755
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Oct. 27, 2016 04:00 AM EDT Reads: 1,361
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 27, 2016 03:45 AM EDT Reads: 4,121
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, will discuss how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team a...
Oct. 27, 2016 03:45 AM EDT Reads: 723
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
Oct. 27, 2016 03:45 AM EDT Reads: 1,506
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 27, 2016 03:45 AM EDT Reads: 1,112
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Oct. 27, 2016 03:30 AM EDT Reads: 3,830
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Oct. 27, 2016 03:15 AM EDT Reads: 1,860
What are the successful IoT innovations from emerging markets? What are the unique challenges and opportunities from these markets? How did the constraints in connectivity among others lead to groundbreaking insights? In her session at @ThingsExpo, Carmen Feliciano, a Principal at AMDG, will answer all these questions and share how you can apply IoT best practices and frameworks from the emerging markets to your own business.
Oct. 27, 2016 03:00 AM EDT Reads: 2,691
Big Data has been changing the world. IoT fuels the further transformation recently. How are Big Data and IoT related? In his session at @BigDataExpo, Tony Shan, a renowned visionary and thought leader, will explore the interplay of Big Data and IoT. He will anatomize Big Data and IoT separately in terms of what, which, why, where, when, who, how and how much. He will then analyze the relationship between IoT and Big Data, specifically the drilldown of how the 4Vs of Big Data (Volume, Variety,...
Oct. 27, 2016 02:45 AM EDT Reads: 1,591
Between the mockups and specs produced by analysts, and resulting applications built by developers, there exists a gulf where projects fail, costs spiral, and applications disappoint. Methodologies like Agile attempt to address this with intensified communication, with partial success but many limitations. In his session at @DevOpsSummit at 19th Cloud Expo, Charles Kendrick, CTO at Isomorphic Software, will present a revolutionary model enabled by new technologies. Learn how business and deve...
Oct. 27, 2016 02:45 AM EDT Reads: 1,534
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 27, 2016 02:15 AM EDT Reads: 1,127