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Strategies for R&D in emerging economies
McKinsey found that “fully one-third of executives around the world say their companies are not doing any R&D work in emerging economies.” However, the good news is that companies that are active are addressing local needs, and not just attempting to shift innovation for developed markets to low cost regions.
Says McKinsey: “Of the two-thirds of respondents whose companies pursue such efforts, the largest shares say their R&D is focused on either global product platforms or local innovation in emerging economies, as opposed to R&D for developed markets only, which respondents say is not a major focus of emerging-market R&D operations. Moreover, companies appear to be aligning their goals, whether it’s seeking lower development costs or gaining better access to customer insights, with their specific R&D focus in emerging economies.”
You can read the full report here.