Process-driven strategies: Innovation processes

Innovation processes, particularly related to new products, are seen as the wellspring of growth for a company to sustain its competitive advantage. Innovation is a differentiator of national importance for countries that recognise their cost advantages may disappear and their industries must advance along the global value chain from low-cost producers to R&D centres with strong intellectual property output.
  • Similar percentages of CEOs in emerging and developed countries identified new product development as their main opportunity for growth. Sustainable long-term growth does not come from cost-cutting in any market.

  • Emerging-market companies that focus on their home markets can succeed by offering cheaper products, selling tailor-made products adapted to local tastes, or offering new goods and services.
 Highlight: Several CEOs stressed how new product and service development can be a core differentiator in emerging markets. Studies indicate that companies that develop new and different products tailored for emerging markets are more profitable that those that try to sell the same goods and services in developed-world home markets

Which one of these potential opportunities for business growth do you see as the main opportunity to grow your business in the next 12 months?
New product development of equal importance to emerging and developed market firms

Videos: CEO insights on emerging markets
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