Emerging markets leading the way in innovation

Running head: INNOVATION IN EMERGING COUNTRIES
Innovation in Emerging Countries
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INNOVATION IN EMERGING COUNTRIES1
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Innovation..............................................................................................................................2
Innovation at Toyota Motors..................................................................................................3
Toyota in emerging markets...................................................................................................5
Conclusion..................................................................................................................................6
REFERENCES...........................................................................................................................8

INNOVATION IN EMERGING COUNTRIES2
Introduction
Innovation refers to pitching of a concept in such a way that has not been thought of
before. Innovative is an activity that bolsters the ability of companies in order to capture the
pulse of the market that they are operating in (Tidd & Bessant, 2018). Innovation separates
one company from the other and it in turn bolsters the competency of one company in gaining
a competitive advantage over the other. Innovation is an aspect that had already been carried
out in countries that are deemed to be developed (Vries, Bekkers & Tummers, 2016). The
infrastructure that exists in the countries help in supporting the the innovation competencies
of companies and thus, it helps companies in gaining favourable outcomes while they operate
on the industry of a particular country. Innovation in emerging countries could help in
companies in gaining favourable outcomes by capitalising on facts that have not been carried
out before (Srinivasan, 2018). Furthermore, it helps in developing the economy of the country
and the grilled in elevating the standard of living on the country. Toyota is a company that
has been able to incorporate innovation into there activities as a result of which they have
been able to increase the viability of operations. Hence, the paper aims to critically evaluate
the scope of innovation in terms of operations of a company like Toyota in the emerging
markets such as China, Brazil and India.
Discussion
Innovation
Innovation refers to reinventing a product or a service with the help of which the
product or service can stature particulate needs. Innovation been be reinventing a product or a
service or an idea (Nambisan et al., 2017). Since, innovation helps in meeting some needs, it
is important to identify the needs that are associated to the development of the form of
innovation. This, it is important to identify the needs for innovation. The latter is an aspect