The Innovation Sandbox
CK Prahalad writes on how to innovate at the bottom of the pyramid:
The process for designing both of these breakthrough innovations started with the identification of the following four conditions — all of which are difficult to realize, even when taken one at a time:
- The innovation must result in a product or service of world-class quality.
- The innovation must achieve a significant price reduction — at least 90 percent off the cost of a comparable product or service in the West.
- The innovation must be scalable: It must be able to be produced, marketed, and used in many locales and circumstances.
- The innovation must be affordable at the bottom of the economic pyramid, reaching people with the lowest levels of income in any given society.
Permalink | Thursday, September 07, 2006
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