Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth
“The most comprehensive book yet on the subject” of frugal innovation.”
Innovation is a major directive at corporations worldwide. But how do you drive innovation, growth and agility as the global business landscape becomes increasingly unpredictable and diverse? Global corporations can no longer just rely on the old formula that sustained innovation and growth for decades: a mix of top-down strategies, expensive R&D projects and rigid, highly structured innovation processes. Jugaad Innovation argues that the world’s leading companies must look to places like India, China, and Africa for a new, bottom-up approach to fast, frugal and flexible innovation.
Building on their deep experience of innovation practices with companies in the US and around the world, the authors articulate how jugaad, a Hindi word meaning an improvised solution born from ingenuity and resourcefulness, is leading to dramatic growth in both emerging and emerged markets —and how leading companies can adopt jugaad to succeed in our hypercompetitive world. Delving into the mindset of jugaad innovators, the authors discuss the six underlying principles.
To show these principles in action, the authors share previously untold stories of resourceful jugaad entrepreneurs and innovators in emerging markets. These include the story of Mansukh Prajapati, an Indian villager who invented an affordable fridge made entirely of clay, and of M-PESA, a service that enables millions of Kenyans to save, spend, and transfer money using their cell phones without having a bank account. The authors also describe how forward-thinking global firms like 3M, Apple, Best Buy, Facebook, GE, Google, IBM, and PepsiCo are already applying these principles of jugaad to innovate faster, cheaper and better. From Procter & Gamble’s reinvention of its core business model to profitably serve economically marginalized American consumers to Renault-Nissan’s focus on designing cars that cost less but deliver more value, the Western firms profiled in the book show how you can win by practicing jugaad.
A groundbreaking book, Jugaad Innovation shows leaders everywhere why the time is right for jugaad to emerge as a powerful business tool in the West—and how to bring the jugaadmindset and practices to their organizations.
“Jugaad innovation goes farther than conventional business books that chart consumer growth in Brazil, Russia, India and China. It explains how emerging economies are pioneering the art of “frugal engineering”, then it provides practical tips on how Westerm companies – from startups to multinational industrial corporations – can likewise do more with less. A provocative and entertaining read for 21st century business leaders.”
– Carlos Ghosn, CEO of Renault-Nissan