In this month’s issue, Inc. Magazine discusses the new book, Reverse Innovation: Create Far From Home, and the importance of ideas ‘trickling up’ from the emerging market. The authors offer examples of companies that have developed innovative products and services for developing economies and then introduced these ideas to developed markets with great success. The book is a call to action for companies to look outside of their traditional markets and to learn and adapt to the needs of the emerging market – a hugely, untapped space that is brimming with ideas and opportunities for growth. Co-author of Reverse Innovation: Create Far From Home, Vijay Govindarajan had this to say about obstacles facing developed-world business leaders and their ability to recognize this potential:

“The biggest obstacle is the mindset. In the developed world, we have been so successful for so long catering to a very sophisticated customer, supplying premium products with high margins. That dominant logic does not work in poor countries. It is a fundamentally different customer set with fundamentally different problems. Sometimes, countries can become insular when they are so successful. For American entrepreneurs to tap into this opportunity, they have to be curious about the problems of people in poor countries. This curiosity—if you can acquire it, then you can succeed.”

Read the full article and more about the book.

Vijay Govindarajan talks about Reverse Innovation as part of TedxBigApple:

TrickleUp Design likes to think of design as a tool for creating meaningful change in the world – influencing economies, policies and behaviours. But we also see the value of design to delight and enter into one’s life in small, quiet ways. We like finding examples of these “small acts of design” and sharing them on this blog.

A favourite example is found on a quiet street in the Beaches neighbourhood of Toronto. The Little Free Library is a bird house-like lending library placed at the edge of its homeowners’ property and is open to any passer-by looking to give or take a book. No cash or library card needed. This simple act is a fantastic example of systems design in action. This open source, barter-based activity falls outside of a large, organized system but creates its own small, self-sustaining ecosystem, offering a useful service and delighting its users.