Further, innovative products and services resulting from R&D activities in emerging economies seem to better address the needs of consumers at the bottom-of-the-pyramid in other developing countries. These trends have managerial implications for companies and policy implications for the emerging economies where such R&D is performed, as well as for the industrialized home countries of the companies. These trends are occurring in a dynamic business environment that consists of mutually reinforcing economic and technological changes. There are mainly two new trends: First, location of globally strategic R&D by the multinational corporations (MNCs) in some developing countries second, more recently, some companies from the emerging economies have also started performing R&D to develop products and services for global markets. They include changes in the innovation process, flexibility to outsource innovation activities, and most importantly, the location of innovation. In recent decades, there have been significant changes in the way corporate innovation is performed.
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