Navi Radjou - Frugal innovation: how to do better with less

Praise for Frugal Innovation
GAPPAA.ORG

Frugal innovation is a global phenomenon of increasing importance to corporations and governments around the world. Radjou and Prabhu, in their latest book, show how this revolution is 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, and former Chairman, Unique Identification Authority of India

Doing more with less has been the de facto cultural norm in developing economies for ages. These winds of frugal innovation are now blowing westwards in the VUCA (volatile, uncertain, complex, ambiguous) world, a phenomenon very powerfully captured by Radjou and Prabhu in their new book. Not only do the authors provide a compelling case for frugal innovation but more importantly provide simple-to-understand and practical mechanisms to deploy this strategy in organizations. Vineet Nayar, Former CEO, HCL Technologies, and Founder, Sampark Foundation

Emerging markets have shown that successful innovation must lead to improvements in quality, reduction in cost, making products and services that are easier to use, and be scalable. These concepts are being increasingly embraced by global companies as they seek growth outside their traditional markets and customer segments. This book is an excellent addition to the authors earlier work on innovation in emerging markets, showcasing how Western corporations too are adapting to evolving consumer needs. Chanda Kochhar, Managing Director and CEO, ICICI Bank Limited

Long practised in developing nations out of sheer necessity, frugal innovation is now becoming a strategic business imperative in developed economies, where consumers demand affordable and sustainable products. The flow of industrial knowledge has thus become a two-way street, where the North and South, East and West learn from and exchange with each other. No business leader in the 21st century can ignore the paradigm shift fully described in this book. Carlos Ghosn, Chairman and CEO, Renault-Nissan Alliance

Established companies in advanced economies are often technology- rather than market-focused, leading to over-engineered products and bloated R&D budgets. In todays changing world, this approach is no longer tenable. Corporate leaders need to drive culture change and install frugal innovation processes in their organizations as well as along their value chains to create more with less. Structured process frameworks for the same exist and numerous helpful case studies are highlighted by Radjou and Prabhu. Frugal Innovation is an excellent book that convincingly demonstrates how the world economy has become a real two-way street. Dr Wilfried G. Aulbur, Managing Partner, Roland Berger India

The business models of the future would have to simultaneously address economic, social, and environmental objectives which would be made possible through imbibing the principles of frugal innovation. India is the birthplace of jugaad (frugal) innovation but Western enterprises have incorporated it into their DNA and are leaving Indian enterprises behind. Indian companies clearly cannot afford to be complacent and urgently need to adopt the techniques and processes outlined in this book as frugal innovation is becoming the basis for competitive advantage for enterprises of the future. Amit Kapoor, Honorary Chairman, Institute for Competitiveness, India, and Editor-in-Chief, Thinkers

Frugal Innovation provides a refreshingly new paradigm for big companies who have thus far been saying our offerings are global, our costs cannot change dramatically, our margin gates are frozen, so lets wait for consumers incomes to catch up. Indias consumers are waiting to be served, collectively rich but individually poor, and wont settle for less for less. Radjou and Prabhus clearly laid out better for less approach will help companies square this circle and grow explosively. Rama Bijapurkar, author of A Never-Before World: Tracking the Evolution of Consumer India

As innovative products like new radios, kitchen appliances, TVs and phones came to market in post-war years, marketers kept adding features to innovate until the consumer was confused. What exactly is the benefit of a clock which has a radio? The authors credibly argue for a better with less approach to innovation. Read this book to learn how to deliver greater value to customers with less! R. Gopalakrishnan, Director, Tata Sons Limited

Through the comprehensive set of case studies they offer in their new book, Radjou and Prabhu demonstrate that frugal innovation is one of the most critical emerging models of value creation for both businesses and the customers they serve. In a hyper-competitive, resource-constrained world, the companies that will succeed are those that can develop and market new solutions that are resource-light and cost-effective without sacrificing quality. Frugal Innovation provides an essential blueprint for how to approach this business imperative the right way. Indra K. Nooyi, Chairman and CEO, PepsiCo, Inc.

Frugal Innovation distils years of thinking and experimentation into an effective and innovative how-to guide for companies large and small. It should be required reading for executives who want to get to market faster and more efficiently while delivering what customers want. Beth Comstock, Senior Vice President and Chief Marketing Officer, GE

Frugal Innovation offers valuable insights for business leaders everywhere who are facing a familiar challenge: how to do more with less and generate sustainable value for customers, shareholders and society. To stay relevant in an increasingly digital world, organisations must embrace a frugal approach to innovation in order to increase productivity and agility, create competitive advantage and ultimately fuel growth. Pierre Nanterme, Chairman and CEO, Accenture

Radjou and Prabhus Jugaad Innovation challenged the top-down Western approach to innovation by offering an agile, bottom-up model. Frugal Innovation moves this further and faster forward. The practical roadmap and numerous cases in this book find the beat of the new customer-led world order where velocity, synergy, empathy and involvement come as standard. The future will be about doing more with less, and here we see how. Kevin Roberts, CEO Worldwide, Saatchi & Saatchi

Radjou and Prabhu show the benefits of viewing resource limitations as an opportunity. In our increasingly resource-constrained world, consumers are demanding affordable, high-quality products that are environmentally friendly and socially inclusive and numerous innovators are already obliging them. Frugal Innovation insightfully articulates how Western companies can evolve to capture opportunities presented by the burgeoning do more with less economy. Dominic Barton, Global Managing Director, McKinsey & Company

In a world of budget cuts where we all strive to do more for less, Radjou and Prabhu provide real practical examples of how we can all learn the lessons of frugal innovation. They successfully draw out the wider social and environmental benefits of frugal innovation and the concept of prosumers in a way that is both engaging and practical. A great read. Iain Gray, Chief Executive, Innovate UK

An excellent and bang-up-to-date primer on how to do innovation cheaply, quickly, flexibly and with close attention to users and customers approaches which are, perhaps surprisingly, diametrically opposite to the ways in which so much innovation is organised today. Geoff Mulgan, CEO, NESTA

Frugal innovation is an idea whose time has come. Downward pressures on cost and the need to use resources sustainably demand this new approach to innovation. In this seminal book, Radjou and Prabhu explain clearly how frugal innovation works and illustrate their case with a host of practical examples from companies around the world. They have captured the wave of the future.