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Fostering inclusive innovation in developing economies: an integrative framework for multinational enterprises

Lookup NU author(s): Professor Suraksha Gupta

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Abstract

© 2019, Springer Nature Switzerland AG 2019. 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 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.


Publication metadata

Author(s): Mortazavi S, Laine I, Teplov R, Vaatanen J, Gupta S

Publication type: Book Chapter

Publication status: Published

Book Title: Globalization and Development: Entrepreneurship, Innovation, Business and Policy Insights from Asia and Africa

Year: 2019

Pages: 149-167

Print publication date: 30/04/2019

Online publication date: 30/04/2019

Acceptance date: 02/04/2016

Series Title: Contributions to Management Science

Publisher: Springer

URL: https://doi.org/10.1007/978-3-030-11766-5_4

DOI: 10.1007/978-3-030-11766-5_4

Library holdings: Search Newcastle University Library for this item

ISBN: 9783030117658


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