Innovation isn’t all about great ideas. INSEAD Professor of Entrepreneurship Morten Hansen and visiting professor Julian Birkinshaw argue that companies often fail because they don’t recognise that innovation is a chain that requires strength at every link to succeed.

The chain starts with idea generation, but then moves to prioritising and funding ideas, to converting those ideas to products and finally to diffusing those products and business practices across the company. 

'Cost innovation’ sounds like an oxymoron. Most of us associate innovation with greater functionality and sophistication. Mainland Chinese companies, however, are turning conventional business models on their heads and these ‘dragons’ are making inroads into markets in ways that would have been unimaginable just a few years ago.

Former INSEAD Affiliate Professor of Asian Business and International Management Peter Williamson says Chinese companies are tapping niche markets and customising products, but instead of looking at premium pricing they’re choosing to go mass market with ‘everyday low prices on steroids.’ Yet, they’re still offering advanced technology and are not skimping on research and development. Read more..