metanational management - Blog - Global Risk Community2024-03-28T21:26:55Zhttps://globalriskcommunity.com/profiles/blogs/feed/tag/metanational+management4 Approaches to Global Innovation Managementhttps://globalriskcommunity.com/profiles/blogs/4-approaches-to-global-innovation-management2022-03-08T10:44:39.000Z2022-03-08T10:44:39.000ZMark Bridgeshttps://globalriskcommunity.com/members/MarkBridges<div><div class="entry"><p><span style="font-size:12pt;">Editor's Note: <em> If you are interested in becoming an expert on Innovation Management, take a look at Flevy's Innovation Management Frameworks offering. This is a curated collection of best practice frameworks based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. By learning and applying these concepts, you can you stay ahead of the curve. <a href="https://flevy.com/browse/stream/innovation">Full details here.</a></em></span></p></div><div class="entry"><p><span style="font-size:12pt;"> </span></p><p><span style="font-size:12pt;"><a href="{{#staticFileLink}}10177537862,original{{/staticFileLink}}"><img class="align-right" src="{{#staticFileLink}}10177537862,RESIZE_400x{{/staticFileLink}}" alt="10177537862?profile=RESIZE_400x" width="187" height="281" /></a>Contemporary vibrant and contracting world demands using a wider approach to Innovation and <a href="https://flevy.com/business-toolkit/innovation-management-inno">Innovation Management</a>.</span></p><p><span style="font-size:12pt;">The customary approach’s reduced efficacy is due to the uncomplicated accessibility to exceptional knowledge necessary to Innovate. Accessing and utilizing such knowledge effectually warrants a revitalized approach.</span></p><p><span style="font-size:12pt;"><a href="https://flevy.com/business-toolkit/globalization">Globalization</a> of Innovation can be accomplished in numerous ways. Four of the common ones are:</span></p><ol><li><span style="font-size:12pt;"><strong>Center for Global</strong></span></li><li><span style="font-size:12pt;"><strong>Local for Local</strong></span></li><li><span style="font-size:12pt;"><strong>Local for Global</strong></span></li><li><span style="font-size:12pt;"><strong>Global for Global</strong></span></li></ol><p><span style="font-size:12pt;"><a href="https://flevy.com/browse/flevypro/global-innovation-management-primer-6104"><img class="aligncenter size-full wp-image-10622" src="https://flevy.com/blog/wp-content/uploads/2022/03/Slide-Deck-Image-Global-Innovation-Primer.png" alt="" width="715" height="536" /></a></span></p><p><span style="font-size:12pt;">Of the 4 approaches, Local for Global is the most recognized model in the area of Global Innovation. Although implementing such an approach has its challenges, its pursuit allows adoption of Innovation as a source of <a href="https://flevy.com/business-toolkit/competitive-advantage">Competitive Advantage</a> in the future.</span></p><p><span style="font-size:12pt;">Lately, significance of Innovation in emerging countries is growing. An overview of the associated concepts brings to light 3 types of Innovation.</span></p><ol><li><span style="font-size:12pt;"><strong>Metanational Innovation. </strong> This comprises of seeking, obtaining, and using effective knowledge, information, and knowhow that is possibly present in different locations across the world.</span></li></ol><ol start="2"><li><span style="font-size:12pt;"><strong>Frugal Innovation.</strong> This kind of Innovation ascends the distinctive constraining environment of a locality. It is not essential to scale Frugal Innovation to Local for Global Innovation every time.</span></li></ol><ol start="3"><li><span style="font-size:12pt;"><strong>Reverse Innovation.</strong> This type of Innovation is employed to uncover developed country requirement of minimal functionality/ minimal priced products which were originally created for emerging countries.</span></li></ol><p><span style="font-size:12pt;">While the variances are slight, these can be taken as the emerging country’s form of Local for Global Innovation.</span></p><p><span style="font-size:12pt;">Fundamental in tackling the challenges to Local for Global approach is Metanational Management. Dynamic Resource Situation can be addressed with the help of Metanational Management approach. The Metanational Management approach entails:</span></p><ul><li><span style="font-size:12pt;">Perceiving globally dispersed knowledge-information, capturing it, distributing it company-wide, and ensuring its utilization.</span></li><li><span style="font-size:12pt;">Metanational Management moves past local scope, targeting value creation on a global scale.</span></li><li><span style="font-size:12pt;">Management of the company aims to utilize home-country benefits in the routine but does not cease there, rather tries to capture advantages throughout the world.</span></li><li><span style="font-size:12pt;">This is achieved via International Innovation Relay; connected to this are the concepts and roles of External Knowledge-Information Brokers and Internal Knowledge-Information Brokers.</span></li><li><span style="font-size:12pt;">External knowledge-information broker is a delicately adjusted observation system that collects indications from all over the world.</span></li><li><span style="font-size:12pt;">Placement of the observation system over a wide range and in riskier locations e.g., emerging countries, may help companies obtain comparative and Competitive Advantage.</span></li></ul><p><span style="font-size:12pt;">Role of the Internal Knowledge-Information Broker is:</span></p><ul><li><span style="font-size:12pt;">To suitably capture knowledge, information, and expertise garnered by the External knowledge-information broker.</span></li><li><span style="font-size:12pt;">Creating a viable business by using information, specifications, Innovation, and technology.</span></li></ul><p><span style="font-size:12pt;">Metanational Innovation Cycle comprises of a company management’s ability to equally place monitoring systems as well as use the information acquired. Metanational Innovation Cycle requires effectively relating monitoring systems and information acquired. Even though this is an easily understandable concept, handling it presents a significant challenge.</span></p><p><span style="font-size:12pt;">Interested in learning more about Global Innovation Management? You can download <a href="https://flevy.com/browse/flevypro/global-innovation-management-primer-6104">an editable PowerPoint on <strong>Global Innovation Management </strong>here </a>on the <a href="https://flevy.com/browse">Flevy documents marketplace</a>. </span></p><h3><span style="font-size:12pt;"><strong>Want to Achieve Excellence in Innovation Management?</strong></span></h3><p><span style="font-size:12pt;">Gain the knowledge and develop the expertise to become an expert in Innovation Management. Our frameworks are based on the thought leadership of leading consulting firms, academics, and recognized subject matter experts. <a href="https://flevy.com/browse/stream/innovation">Click here for full details.</a></span></p><p><span style="font-size:12pt;">To be competitive and sustain growth, we need to constantly develop new products, services, processes, technologies, and business models. In other words, we need to constantly innovate. </span></p><p><span style="font-size:12pt;">Ironically, the more we grow, the harder it becomes to innovate. Large organizations tend to be far better executors than they are innovators. To effectively manage the Innovation process, we need to master both the art and science of Innovation. Only then can we leverage Innovation as a Competitive Advantage, instead of viewing Innovation as a potential disruptive threat.</span></p><p><span style="font-size:12pt;"><a href="https://flevy.com/browse/stream/innovation">Learn about our <strong>Innovation Management Best Practice Frameworks</strong> here.</a></span></p><h3><span style="font-size:12pt;"><strong>Do You Find Value in This Framework?</strong></span></h3><p><span style="font-size:12pt;">You can download in-depth presentations on this and hundreds of similar business frameworks from the <a href="https://flevy.com/pro/library">FlevyPro Library</a>. <a href="https://flevy.com/pro">FlevyPro</a> is trusted and utilized by 1000s of management consultants and corporate executives. Here’s what some have to say:</span></p><blockquote><p><span style="font-size:12pt;">“My FlevyPro subscription provides me with the most popular frameworks and decks in demand in today’s market. 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