Emerging markets leading the way in innovation

This assignment must be approximately 2,000 words in length, plus a bibliography and must be accurately referenced, preferably using APA 6th ed "Apply a relevant theme covered within lecture topics 2-7 to an industry of your choice, in the light of recent developments in that industry" lecture slides attached below. You are expected to identify one key theme of particular relevance to your industry. You should identify a focussed theme, so as to allow for depth of analysis. 

Running head: INNOVATION IN EMERGING COUNTRIES
Innovation in Emerging Countries
Name of the Student
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1INNOVATION IN EMERGING COUNTRIES
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Innovation..............................................................................................................................2
Innovation at Toyota Motors..................................................................................................3
Toyota in emerging markets...................................................................................................5
Conclusion..................................................................................................................................6
REFERENCES...........................................................................................................................8

2INNOVATION IN EMERGING COUNTRIES
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

3INNOVATION IN EMERGING COUNTRIES
which helps in generating favourable nature of outcomes in terms of operations of consorts
that are driven by innovation. In the modern business environment, organisations are looking
forward to gain effectiveness in operations by adopting factors that help them in bolstering
the capability of the company. The latter is essential as it determines the competency of the
company in gaining advantage over the competitors. In competitive business environments,
companies should be able to identify strategies with the help of which they can face they
competition and come out victorious thus, being successful in capturing the pulse of the
market by catering to the needs to the consumer community. It can be said that innovation is
crucial when it comes to gaining association with favourable standards of living. Thus,
consumers are also aligned to the needs for products and services that are innovative in
nature. The latter gives them the ability to maximize the utility that they receive from
consumption of the product or service. Thus, innovation is a complete must when it comes to
generation of favourable nature of outcomes both from the perspective of the consumers and
the companies.
Innovation at Toyota Motors
Toyota motors has been recognised as one of the top companies operating in the
automotive industry (Galbreath & Benjamin, 2017). The reason behind the success that had
been received by the company goes to the quality that is associated with the products that is
there vehicles that they offer in the market. The quality of the products offered by the
company is as a result of the high level of efficiency that the company exercises while
operating in the industry that is deemed to be highly competitive. The company advices by
the values that have been established in the Toyota Production System (Soliman, 2017). The
Toyota Production System is an assimilation of values that are incorporated into operations
while each and every business unit of the company is operating. Values such as Kaizen or
Continuous improvement is a major aspect of the Toyota Production System (Schwarz et al.,

4INNOVATION IN EMERGING COUNTRIES
2017). At Toyota, it is a belief that each and every operation that is currently being conducted
can be improved. Thus, Kaizen helps every business unit of the company in shifting by the
same. Hence, in order to abide by statements that have been made in the Toyota Production
System, the giant is constantly looking for ways to reinvent operations. Thus, the company
had developed solutions both in terms of innovation regarding the products or innovation
regarding the nature of way of carrying out activities. Lean and agile operations are the some
of the main innovative ideas that have been developed by Toyota (Cheung et al., 2018). Lean
operations refer to the minimisation of wastes while in operation. Lean operations help in
ensuring that the activities to be carried out are efficient in nature. Furthermore, the activities
are such that they help in maintaining efficiency through which there is minimisation in terms
of wastage. The activists that are carried out by Toyota help in reduction in the amount of
excessive wastage and also helps in minimisation of the impacts on the environment. On the
other hand, agile operations refer to the nature of activities with the help of which the
companies can help in gaining effectiveness in minimisation of time associated with the
delivery of services or products. At Toyota vehicles are assembled once they have been
ordered by the customer. Thus, both agile and lean operations help in gaining favourable
nature of outcomes in terms of minimisation of wastage and increase in the efficiency of the
processes that are carried out by the company.
Toyota has not only carried out innovation just on the basis of Kaizen or learn and
while operations, the consent has been successful in carrying out innovation in terms of
product development. Three company has invested extensively in research and development
in order to boost its ability to carry out favourable operations both in terms of business
development and innovative product idea development. The extensive investment that the
company has been able to make in terms of research and development has resulted in the
development of favourable nature outcomes in terms of product development. Tourism has

5INNOVATION IN EMERGING COUNTRIES
come up with the development of ideas that help in development of vehicles that run on
electricity. The company has been able to develop a competency in innovation that helps
them in gaining favourable nature of outcomes by carrying out activities such as developing
vehicles that can be run with the help of electricity. The aim of company is to contribute to
the sustainable development of the environment. Hence, the company has been able to
increase effectiveness in terms of Product development through which the content can satiate
the needs of the environment and the diverse stakeholders associated to the company. The
company had also been able to develop technologies that helps the vehicles in reduction of
the fuel that is consumed by the vehicles. The aim of the company is to satisfy the needs of
diverse groups of stakeholders and hence the company had been successful in converting the
needs of the consumers community into an idea that is sustainable and profitable in nature.
Toyota in emerging markets
Markets such as that of Brazil, China and India, are characterised by the development
of businesses at rapid rates. However, it has been noticed that there exists intense competition
in the countries as a result of which the companies can effectively contribute to the needs
associated with the development of the factors that help in sustaining the rationale for
operation of companies. Markets such as that of the aforementioned countries are
characterised by slow berth in terms of innovations even if the late are countries that have
various business hubs. The main strategy with the help of which companies can reduce risks
associated to business is through the reduction of price through price wars. The aim of
companies is to gain effectiveness in operations through reduction or other as that is a
strategy that can appeal in terms of Satiation of the needs of the rational customers. In
countries such as India, China and Brazil, price is one of the most important factors that
determines the purchase decision of the consumers (Nadeem, Gan & Nguyen, 2017). Thus, it
can be said that the latter is a factor that must be tapped in order to develop competencies that

6INNOVATION IN EMERGING COUNTRIES
are favourable in nature. Innovation in emerging markets can help in Satiation of the needs
associated with the proceedings in the environment. The aim of the latter is to gain
effectiveness in the method of offering products and services in the market. Emerging
markets have considerably lower access to innovative technology. Thus, it can be said that
technology that is innovative can help in providing utility to the the masses of a particular
market that has not been exposed to a certain type of product or service. The innovative ideas
that are used and implemented by Toyota can help in gaining favourable nature of outcomes
when it comes to the development of a value proposition in the latent that is characterised by
innovation. Thus, it can be said that the aim of the company in emerging markets such as
Brazil, China and India are to capitalise in the areas that have not been explored by other
companies. The products that are to be offered by the company in the industry will help in
providing value to the consumers. The products that are offered by the Toyota help in
satiating the needs that are associated to the operations of the company in the industry that the
company is associated to. It is likely that vehicles consuming low levels of fuel would help in
gaining favourable nature of outcomes in the industry. The products that are to be offered by
Toyota have not been offered in the industry before. Thus, the nature of outcomes carried out
in by the company in terms of pitching the industry with products that are sustainable and
innovative in nature help in developing a value proposition in the industry with the help of
which Toyota can ensure that they achieve sustainable nature of outcomes while they operate
in the industry that is deemed be highly competitive in nature. Toyota has been recognised as
a fortune 500 company and thus, it can be said that the company should use the same values
in order to gain favourable nature of outcomes while they operate in the industry.
Conclusion
On a concluding note it can be said that innovation is an activity that bolsters the
competencies of companies while they operate regardless of the industries. Innovation is an

7INNOVATION IN EMERGING COUNTRIES
activity that can help in gaining sustainable outcomes in emerging markets such as China,
Brazil or India where it has been found that there exists intense competition in the countries
as a result of which the companies can effectively contribute to the needs associated with the
development of the factors that help in sustaining the rationale for operation of companies.
Innovation in emerging countries could help in companies in gaining favourable outcomes by
capitalising on facts that have not been carried out before. 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 had been able to incorporate innovation into their activities as a
result of which they have been able to increase the viability of operations. Toyota has been
recognised as one of the top companies operating in the automotive industry. The reason
behind the success that had been received by the company goes to the quality that is
associated with the products that is there vehicles that they offer in the market. The company
advices by the values that have been established in the Toyota Production System. The
Toyota Production System is an assimilation of values that are incorporated into operations
while each and every business unit of the company is operating.

8INNOVATION IN EMERGING COUNTRIES
REFERENCES
Cheung, W., Chiang, A. H., Sambamurthy, V., & Setia, P. (2018). Lean vs. agile supply
chain: the effect of IT architectures on supply chain capabilities and
performance. Pacific Asia Journal of the Association for Information Systems, 10(1).
De Vries, H., Bekkers, V., & Tummers, L. (2016). Innovation in the public sector: A
systematic review and future research agenda. Public administration, 94(1), 146-166.
Galbreath, J., & Benjamin, K. (2017). An action-based approach for linking CSR with
strategy: Framework and cases. In Innovative CSR (pp. 12-36). Routledge.
Nadeem, M., Gan, C., & Nguyen, C. (2017). Does intellectual capital efficiency improve firm
performance in BRICS economies? A dynamic panel estimation. Measuring Business
Excellence.
Nambisan, S., Lyytinen, K., Majchrzak, A., & Song, M. (2017). Digital Innovation
Management: Reinventing innovation management research in a digital world. Mis
Quarterly, 41(1).
Soliman, M. (2017). A comprehensive review of manufacturing wastes: Toyota production
system lean principles. Emirates Journal for Engineering Research, 22(2), 1-10.
Srinivasan, P. S. (2018). Empowering Agribusiness with Digital Innovation for Emerging
Market. In Strategic Marketing Issues in Emerging Markets (pp. 257-273). Springer,
Singapore.
Tidd, J., & Bessant, J. R. (2018). Managing innovation: integrating technological, market
and organizational change. John Wiley & Sons.

9INNOVATION IN EMERGING COUNTRIES
von Thiele Schwarz, U., Nielsen, K. M., Stenfors-Hayes, T., & Hasson, H. (2017). Using
kaizen to improve employee well-being: Results from two organizational intervention
studies. Human relations, 70(8), 966-993.