Topic
8 facts from 1 episode, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
Undated
Vijay Govindarajan says he pioneered reverse innovation about fifteen years before this episode, mainly as a business-strategy idea.
“I would call it reverse innovation 2.0 because the reverse innovation that I pioneered fifteen years ago, it was really looking at it from a business strategy point of view.”
Undated
Vijay Govindarajan says that almost 60% of Indians lacked access to the healthcare devices available in the US when he worked for GE Healthcare in India.
“there was almost 60% of Indians who did not have access to healthcare devices that we have in the US.”
Undated
Govindarajan says the GE EKG project took eighteen months from start to finish and was hugely commercially successful.
“this project, EKG project, took us eighteen months from beginning to the end until we came up with the solution, which was hugely commercially successful.”
Undated
Govindarajan says defining design requirements took about three months of the eighteen-month EKG project.
“So the design requirements took us three months, but it's not a black and white.”
Undated
Govindarajan names slowing growth in rich countries as one of three forces, alongside emerging-market rivals and affordability pressure, pushing firms toward reverse innovation.
“The three forces that are coming together is the rich country, the growth has slowed down.”
Undated
Govindarajan says multinationals fear that a $400 ECG machine sold in the US would replace $20,000 machines and erase their profit margins.
“Because if you're going to bring 400 dollar ECG machine into the US, where you're currently selling 20,000 dollar ECG machine, if the 400 start replacing the 20,000, your profit margin disappears.”
Undated
Govindarajan advises CEOs to give innovation teams fewer resources because constraints push people toward more creative thinking.
“In fact, I would say to the CEOs that I work with, give your innovation team less resources. When you give people less money, they actually do out-of-the-box thinking.”
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Govindarajan names education, healthcare and energy as the three sectors most in need of the ideas in Global by Design.
“there are three sectors which are absolutely craving for the ideas that we have in the book: education, healthcare, and energy.”
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