musicmarkup.info: Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth (): Navi Radjou, Jaideep Prabhu, Simone Ahuja. Jugaad Innovation: A Frugal, Flexible, and Inclusive Way to Grow. Jaideep Prabhu. Frontiers of Research on Global Innovation. Marketing and Innovation. Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough. Growth and From In this seminal book, Radjou and Prabhu explain clearly how frugal.
|Language:||English, Spanish, Arabic|
|ePub File Size:||30.82 MB|
|PDF File Size:||18.27 MB|
|Distribution:||Free* [*Sign up for free]|
This compelling new book, Jugaad Innovation, articulates how you can . Jugaad innovation: think frugal, be flexible, generate breakthrough growth / by Navi Radjou, [musicmarkup.info musicmarkup.info]. Jugaad Innovation: A Frugal, Flexible, and Inclusive Way to Grow. Jaideep Prabhu. UNCSTD, Geneva. January 23, Editorial Reviews. Review. “Jugaad Innovation goes farther than conventionalbusiness books that chart consumer growth in Brazil, Russia, India, and China.
Read this summary first: When Border Books filed for bankruptcy protection in , many people wondered what had gone so terribly wrong; the once-ubiquitous bookstore chain was suddenly gone. So what had gone wrong? The answer is simple: they failed to adapt to the needs of a changing world. Even though traditional, Western innovation practices have proven successful, many Western companies still have a long way to go when it comes to creating truly adaptable innovation processes. These strategies are vital to growth and survival in a global, and rapidly changing, market. So how do you do it?
So what is jugaad innovation? At the heart of this method is awareness: recognizing constraints and making them work for you.
A jugaad innovator will respond quickly to what he sees not as obstacles, but opportunities. One early jugaad innovator was Tulsi Tanti.
After founding a textile unit, he, like many other Indian entrepreneurs, struggled with an expensive and unreliable energy supply. After a period of trial and error, Tanti discovered a dependable, sustainable and affordable power source: wind turbines. After the initial costs of setting up the turbines were recovered, Tanti was able to fuel his business for free. The company is active in over 30 countries across six continents, and employs 13, people.
For example, many Fortune CEOs felt threatened by the explosion of social media networks and their potential influence — they are a powerful tool that can spread rumors, damage brands and ruin, in a matter of hours, reputations that took years to build.
In short, social media is seen as a threat to a stable reputation. As early as , the company embraced emerging tools as a new way to engage with customers. Every company should learn to never stand still, and always be ready to try new things. The downfall of many Western firms is unfortunately their inability to be flexible.
They tend to have a profound aversion to risk, and become complacent in their business practices.
One example of this is Kodak. Although Kodak had developed digital photography technology earlier than some of its competitors, it saw the new world of digital cameras as a threat to its highly profitable main business: film.
As Malcolm Gladwell points out in Outliers, invention is by its very nature a disorderly process, filled with deviant behavior and ideas that drive game-changing innovation.
Acting flexibly entails working through conditions of diversity, volatility and unpredictability by questioning widely held industry assumptions and improvising solutions. Mohan and other doctors assist their patients from their offices in Chennai using video monitors, while direct care is provided by a network of primarily urban doctors who travel in a van equipped with telemedicine technologies, which allow for diagnostic tests.
Mohan challenged the accepted notion of patients going to doctors.
To access his staff through cost-effective communication capabilities, he partnered with the Indian Space Research Organisation. This jugaad innovator was effectively able to turn the tables, and bring doctors to their patients. Westerners tend to view products and services for marginalized segments as a social contribution, and not a profitable venture.
But in fact, marginalized segments can represent a business opportunity in themselves! Unfortunately, deeply entrenched Western business models can only adapt half-heartedly to serve those at the margins. They feel that the return on such investments is unlikely to materialize for a number of years. But focusing on marginalized target groups makes sense from both an ethical and a business standpoint. Underdeveloped infrastructure, ineffective government and accelerated population growth have hampered access to basic services like healthcare, education and energy for millions of people throughout Africa, India and Latin America.
By the same token, however, such widespread scarcity implies that millions of excluded citizens are also millions of potential customers.
Rana Kapoor recognized this, and quit his job at a multinational company in to start an inclusive bank serving the financial needs of a broad range of consumers. His driving force was the belief that banks should serve the million Indians who at the time had no access to a bank. In Argentina, such labor is in limited supply, is not formally organized, is spread out across the country, and can be costly to hire, especially during peak harvest seasons.
Funding opportunities for bootstrapping new businesses are very limited for entrepreneurs in Argentina. Instead of giving in to these challenges, Grobocopatel developed an ingenious business model. He overcame the scarcity of land by leasing rather than acquiring it.
And he overcame the cost of owning equipment and the lack of access to capital by renting the equipment needed from networks of small local companies. It shows how a resilient mind-set can transform scarcity into opportunity by combining limited resources with inventiveness and a never-say-die attitude.
This approach—whether it is aimed at creating a product, service, or business model—is what we call jugaad innovation. The extreme conditions that make jugaad innovation worthwhile have typically been more prevalent in emerging markets such as India, China, and Brazil than in the United States or Europe.
But in recent years, developed economies have begun to exhibit many of the same aspects of scarcity, diversity, unpredictability, and interconnectivity, making these principles relevant to companies around the world.
During the 20th century, Western companies built up dedicated research and development departments aimed at institutionalizing and managing their innovation capabilities. This industrialization of the creative process led to a structured approach to innovation that spawned big budgets, standardized business processes, and controlled access to knowledge.
Most Western firms have assimilated the idea that an innovation system—like any other industrial system—will generate more output inventions if fed more input resources.
As a result, the structured innovation engine in most companies is capital intensive, requiring an abundant supply of financial and natural resources at a time when both are scarce. But what did they get in return? These structured processes were expected to drastically reduce uncertainty and the risk of failure. Jugaad Regained Instead of always using a hammer to deal with their problems, companies might find it helpful to use a screwdriver from time to time.