A3 Book section, chapters in research books

Fostering inclusive innovation in developing economies: An integrative framework for MNEs


Open Access publication

Publication Details
Authors: Mortazavi Sina, Laine Igor, Teplov Roman, Väätänen Juha, Gupta Suraksha
Editors of book: Faghih, Nezameddin
Edition name or number: Contributions to Management Science
Publishing place: Cham
Publication year: 2019
Language: English
Title of parent publication: Globalization and Development : Entrepreneurship, Innovation, Business and Policy Insights from Asia and Africa
ISBN: 978-3-030-11766-5
eISBN: 978-3-030-11766-5
JUFO-Level of this publication: 2
Open Access: Open Access publication
Location of the parallel saved publication: http://urn.fi/URN:ISBN:978-3-030-11766-5

Abstract


Inclusive innovation, a relatively new term emerging in the last decade, commonly
refers to any innovation for poor and otherwise excluded members of society. Developing
economies are particularly promising targets for this kind of innovation due to
their institutional voids and the vast numbers of people living below the poverty
line. This chapter introduces an integrative framework highlighting a range of
factors relevant to multinationals seeking to foster inclusive innovation in
developing economies. Because innovation processes in developing economies inherently
face constraints, our suggested approach mitigates and transforms these
challenges into advantages that assist both multinationals and the local societies.
We argue that this approach fits the context of developing countries better
than traditional methods; as such multinationals operating in these markets
should embrace it within their strategies. By building on contemporary research
into this strategy, entrepreneurship and supply chain, while
also extending beyond the conventional
understanding of innovation processes, our study develops an integrative
framework of inclusive innovation for multinationals operating in developing
economies. On a practical level, our study can help managers understand
inclusive innovation and their respective operational strategies, thus enabling
effective innovative processes in developing countries.


Last updated on 2019-03-09 at 13:07