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Running head: PYRAMID INNOVATES
Similarities and differences between traditional innovation and reverse innovation
General electrics, as most of MNE’s, are used to innovate in rich or first world countries
and later transferred to the emerging countries. This has been described as a traditional manner
of innovation. However, reverse innovation is the opposite. It concerns developing innovations
in the emerging countries before been transferred to the world including the rich countries
(Ostraszewska & Tylec, 2015). But the reverse innovations are first embraced to needs of
emerging countries such as India and China. The greatest difference is in their pricing
(Ostraszewska & Tylec, 2015). This is because when any product is appropriately launched,
introduced in rich countries, there is the creation of a new market with low-cost innovative goods
that are not present in the Western countries market. However, this is largely attributed to the
rapid development of highly populated countries such as India and Chin...
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