For decades, GE has sold modified Western products to emerging markets. Now, to preempt the emerging giants, it’s trying the reverse.
-Jeffrey R. Immelt, Vijay Govindarajan, and Chris Trimble
According to this article in HBR, GE basically needs to develop products in India/China (or take products that were developed for India/China) and sell them in the West instead of taking products designed/developed in the West and selling them in India/China. They’re calling it reverse innovation.
My feeling is that it’s just taking products from one market and selling them in another. That idea is pretty old. I mean the concept of ‘0’ was invented in India right? And paper in China? And people have been selling Bollywood movies everywhere…