Why Innovators in China Stay Close to the Market
Businesses in China increasingly source their innovations from customers, competitors, and front-line employees, bucking trends seen elsewhere in the world.
Look at the electric shavers on offer from Philips at stores in New York, London, or Tokyo, and one will seem much like another. But go to Shanghai, or a smaller Chinese city like Yantai, and youâll see something different. There, Philips has products that arose from local innovations and are customized for Chinese consumers.
Itâs not surprising that a multinational company would be willing to adapt its offerings to serve a large market ...
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