This article makes three points. First, for multinationals, winning in emerging markets is “not nice to do” but is the very oxygen that will fuel future growth in home markets. Second, the very organizational architecture that has helped multinationals historically can create the traps. Third, multinationals should adopt a new organizational form to develop breakthrough innovations to unlock opportunities in emerging markets.
Fellow of the Strategic Management Society (SMS) is an honor given to a distinguished group of scholars who have made significant contributions to the field of strategic management. There are currently 44 SMS Fellows. VG was elected an SMS Fellow in the 2009 Annual Conference, where he was a keynote speaker. SMS is the largest and most prestigious association of academics in the strategy field.
I am the first academic to be appointed as the Professor in Residence and Chief Innovation Consultant at General Electric for a two year term (2008-2009). My role is to work with GE leaders to accelerate their innovation agenda. In this capacity, I engaged in three activities.
Teach: I presented my 3 Box framework on strategy and innovation to the top 600 GE executives (including Jeff Immelt, Chairman and CEO) as part of the Leadership, Innovation, and Growth (LIG) Program. The LIG is a highly innovative program that was featured in the January 2009 Harvard Business Review article “How GE Teaches Leaders” - - the article highlighted my presentation and how the 3 Box thinking has influenced GE’s strategy development process. I also ran two day workshops on Implementing Innovation to teams working on specific innovation initiatives.
Guide: I have helped GE leaders think through aspects of their innovation projects—brainstorming a breakthrough idea, coaching teams on testing assumptions, evaluating organizational architecture for innovation, etc. I also participated in conversations identifying the profile of the 21st Century Leader which will be used to develop future leaders at Crotonville Programs.
Consult: I worked in-depth with GE Healthcare India and GE Energy India to identify opportunities for growth by taking a “market back” view. These projects highlighted that GE could grow 2 to 3 times faster. I also facilitated evaluation and selection of opportunities to drive the growth. My work on these projects was featured in the October 2009 issue of Harvard Business Review -- “How GE Is Disrupting Itself” (with Jeff Immelt and Chris Trimble).
VG has been named one of the world’s most important and influential business thinkers of 2009.
The failures of risk management that led to the financial crisis need innovative solutions, say authors Vijay Govindarajan and Chris Trimble. For that, we need the full passion and unbridled optimism of our business leaders.
Article on Business Week | Article on VG's blog