Conclusions

Abstract

With this study we intended to examine the implications of the tremendous and on-going shift in the global centre of economic gravity for the theory and practice of innovation management. Developing countries as a group, and more specifically some large and fast growing economies, such as the BRIC nations, are increasing their share in the global economy. Decreasing poverty and a growing and increasingly affluent middle class has been driving the consumption in unsaturated markets like that India which are still faced with infrastructural deficiencies. This is creating new business opportunities for firms to develop products that can fuel growth while raising standards of living in those nations. However, to benefit from those opportunities firms need to acquire first-hand (technical & market) knowledge in the respective geographical regions.