2   Globally Segmented InnovationHow Multinational Companies Leverage Indian Talent

FOR MANY FIRMS, developing new products for consumers around the world is the most visible manifestation of innovation—the real deal. It is one thing for firms to manage another firm’s IT system or to field calls from its customers but quite another to conceptualize a new product or service offering and take the idea all the way from conception to sale. This latter notion is the kind of innovation that people have in mind when they ask, “Where are the Indian Googles, iPods, and Viagras?”

The problem with this perspective is that it virtually ignores innovation in the B2B space and how new-product development is currently conducted in MNCs. Today, the new-product ...

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