The little rice recipe for continuous business growth in an emerging economy

Abstract

Achieving “continuous business growth” amidst high competition is challenging for a young company. However, Xiaomi India did it with the philosophy of “innovation for all and honest pricing.” It became a smartphone market leader in just 42 months in the world’s second-most populous country. However, this article identifies it as a continuous innovation business beyond any product company, considering a six-year research timeline. The managerial implications highlight the business growth recipe with reforming the product innovation outside just cost focus, process innovation past efficiency, and business model innovation beyond own existing business boundary.