Ethics Discussion
As stated, reverse innovation is the infiltration of goods from the developing countries to the industrialized ones, thanks to innovative entrepreneurs (Govindarajan & Trimble, 2012). There are several companies that have tried their products in the developing countries and decided to use them in industrialized markets. Nokia, Microsoft, and of course Coca-Cola are some of the companies that have used such innovations by developing products for the markets in less developed countries. With time, the products become acknowledged and preferred in industrialized markets too. They are then produced to cover both markets. It is an important aspect as it helps in providing cheaper alternatives to for the people. The competition brought about with the development of such products leads to quality as companies seek to attract and hold onto consumers for long. To the consumers in the less developed countries, the innovation has benefitted most people as they are able to acquire products that cost what they can afford.
Greece Crisis Discussion
Greece has been on a tough track in the recent past. They have had their economy slumping over years, necessitating the two previous bailouts by other European nations (Matsaganis, 2011). However, the situation is not becoming better with the current turn of events. Greece is in need again, yet only a few nations are willing to do so. This is because of the failure of the government to meet their part of the bargain which led to the previous help. Their industrial wages are still a concern and the energy sector has still not seen a significant change as was agreed. With the nation facing such a crisis again, it threatens the strength of the European Union (EU) (Matsaganis, 2011). Big economies like Germany want to see the economic reforms in Greece first before committing to help them out. Otherwise, it remains an issue that could lead to a pullout by Greece, and consequently by the other EU members.
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References ;
Govindarajan, V., & Trimble, C. (2012). Reverse Innovation: Create Far from home, win everywhere. Harvard Business Press.
Matsaganis, M. (2011). The welfare state and the crisis: the case of Greece. Journal of European Social Policy, 21(5), 501-512.
