World Economic Forum, Davos 2006: Connecting Globalization & Innovation

John Hagel and John Seely Brown have prepared this paper for the Annual Meeting of the World Economic Forum in Davos, Switzerland January 25 – 30, 2006.
It’s called: Connecting Globalization & Innovation: Some Contrarian Perspectives. [registration is required].
In the introduction, they say:
“We are only now beginning to grapple with the full implications of a globalizing economy. Tom Friedman captured our imagination with the powerful metaphor communicated in the title of his new best-selling book – The World Is Flat – but he tells only part of the story. In the process, he may leave many with a misleading impression. The world is not just flattening; it is also creating significant new opportunities to innovate and build strategic advantage. Much has been written about globalization and innovation as distinct topics, but few analysts have focused on exploring the connection between the two. Those who understand this connection – whether they are well established Western enterprises or entrepreneurial companies in emerging economies like China and India – will be able to create economic value on an unprecedented scale.
“Many companies in China and India are developing an innovative set of management techniques specifically focused on exploiting these opportunities. They are pursuing a radical, yet very pragmatic, bootstrapping approach to build capabilities while addressing near-term market opportunities. In a world of intensifying competition and increasing uncertainty, even the very largest companies need to master these bootstrapping techniques to compete successfully.
The three contrarian messages:
1) Bootstrapping is not just for small, entrepreneurial companies.
2) The United States is no longer the global center of innovation in management practices.
3) Product innovation is not the most powerful form of innovation, even though this is what most Western executives focus on when they think about innovation.
Sign up and read the whole thing. It’s an eye-opener!

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