Scarcity mindset in emerging markets fuels global innovation

Sohrab Vossoughi, founder and president of ZIBA Design, writes in BusinessWeek about how applying a mindset of scarcity and resourcefulness, learned from emerging markets, can bring about an innovation revolution. Points to keep in mind to keep product development costs down.

A mindset of scarcity and resourcefulness helps to cut costs. It’s also a mindset that can benefit change-makers in the current health-care discussions.

The health-care industry can use the lens of resourcefulness to focus its problem-solving on creating relevant solutions that create true value: lower costs, improved outcomes, and increased accessibility. It can take cues from a few companies that are already leading the way…GE learned two things about this new opportunity: First, those in emerging markets do not require the product bells and whistles that wealthier nations have come to expect, so GE can offer solid performance at a low cost…providing “a 50% solution at a 15% price.”

One thought on “Scarcity mindset in emerging markets fuels global innovation

  1. markjasonusa

    Great post and site. I’ve been trying to incorporate this abundance mindset in my life for some time now but sometimes I get overwhelmed by the abundance. For example, if I’m with a woman I’ll find myself thinking about the other billions women in the world and even if I enjoy her company what if there is somebody better out there. I suspect you’ll say something like I’m not in the moment, but I’m curious what your take on this is.

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