Moe and Navi Radjou discuss the principles, perspectives and techniques behind frugal innovation, enabling managers to profit from the great changes ahead.
Harnessing Frugal Innovation
After reading the late, great C.K.Prahalad’s book, The Fortune at the Bottom of the Pyramid, in early 2008, I was fascinated by the opportunity of figuring out a way to contribute to the wellbeing of the four billion poverty stricken poor that he referenced in his body of work. He challenged us all to contemplate the question of inclusive capitalism and ponder why the vast majority of the world is excluded from the resources that far too many of us in the West take for granted. Of course, these aren’t simple questions with logical solutions, still when you consider where we were, you have to be encouraged by the collective of today’s army of social entrepreneurs and organizations such as the Gates Foundations, The Clinton Global Initiative. Having witnessed firsthand their impact, I’m more convinced than ever that the generation entering the conversation today will not only make a disproportionate contribution to the wellbeing of society, more important, they will redefine what’s possible when you let human ingenuity lead the way as Navi Radjou demonstrates in his convincing talk at TEDGlobal.
Radjou is at the forefront of modern innovation and is shaping the thinking of boardrooms across the world, helping them see why his ‘Jugaad innovation’ concept is more of a business imperative that just can’t be ignored. In his latest book, Frugal Innovation: How To Do More With Less, He and Jaideep Pradbhu share the best practices of frugal pioneers to show you how to profit from this shift in perspective.
Here what we discuss:
An inside look at what shapes his thinking
Why and how constraints elevate your ability to innovate
The fastest way to incorporate “Jugaad innovation’ into your cultural DNA
The key practices of successful frugal innovation
Putting the six principles of frugal innovation to work
The mindset of a frugal innovation leader
- A big opportunity for millennials