Recognizing the growing role that emerging economies play in the global innovation landscape, the article provides a measure for the extent of the phenomenon identifying Asia as the main source of a new threat – and opportunity- for Western companies: reverse innovation. The authors delineate this new phenomenon by adopting the perspectives of three different types of executives that either facilitate or are impacted by reverse innovation: managers of Western companies operating in their home markets, directors of Western subsidiaries in emerging markets, and executives of emerging market firms. Finally, recommendations on how to tackle the threat are drawn.