Frugal Innovation: How to do Better with Less By: Navi Radjou, Jaideep Prabhu

Frugal Innovation: How to do Better with Less

In today's fast-paced and competitive business world, efficiency and cost-effectiveness are not just advantages—they're necessities. Navi Radjou and Jaideep Prabhu, esteemed authors and thought leaders in innovation strategy, delve into this essential aspect of modern business in their insightful book, Frugal Innovation: How to do Better with Less. Published by Hachette India in 2014, this 280-page hardcover (ISBN-13: 9789350099858) offers a comprehensive exploration of how companies can excel by doing more with less.

Understanding Frugal Innovation

Frugal Innovation is not about merely cutting costs; it's about rethinking business models to create affordable, sustainable products and services that benefit both businesses and consumers. Radjou and Prabhu draw on over 50 case studies of global companies like American Express, Ford, GE, IBM, and Unilever to illustrate how frugal innovation can drive success in today's competitive markets.

Key Takeaways

• Customer Pressure, Competition, and Delivery Drive Frugality: Companies are pushed by market demands and competition to innovate with limited resources.
• The Role of Developing Nations: By combining the resource-scarcity-driven innovations from developing nations with advanced R&D capabilities from developed economies, companies can create high-quality products that are affordable and sustainable.

Praise for Frugal Innovation

"As the authors highlight, by combining frugal ingenuity of developing nations with advanced R&D capabilities of advanced economics, companies can create high-quality products and services that are affordable, sustainable, and benefit humanity as a whole... This is an idea - and a book - whose time has come." – Paul Polman, CEO, Unilever.

"This book vividly describes the frugal innovation revolution unfolding in the West. India, where many innovations have evolved out of necessity to 'do more (and better) with less', can be an important global partner to co-create frugal solutions that benefit all humanity." – Nandan Nilekani, Co-founder, Infosys; former Chairman, Unique Identification Authority of India.

About the Authors

• Navi Radjou: An Indian innovation and leadership strategist, Fellow at Judge Business School, University of Cambridge, and World Economic Forum faculty member.
• Jaideep Prabhu: An Indian academic and writer, currently the Jawaharlal Nehru Professor of Business and Enterprise at the Judge Business School, University of Cambridge. He is also Director of the Centre for India & Global Business (CIGB).

The authors' previous collaboration, Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth, has already made waves in the business world, and Frugal Innovation promises to build on that success.

Why Choose Frugal Innovation?

In today's fast-changing world, businesses need to adapt quickly. With its insights into frugal innovation, this book equips readers with the tools they need to excel in challenging times. Whether you're a seasoned business leader or an aspiring entrepreneur, Frugal Innovation offers valuable lessons on how to succeed by doing more with less.