Navi Radjou, the author of “Frugal Innovation” and “Jugaad Innovation” joined the IL community recently to share advice on how to make lean strategies work in your organization.
Radjou, whose TED talk on frugal innovation has garnered over 1.6 million views, explained some of the values driving the phenomenon, and answered questions from participants.
“Frugal innovation is a strategy more than a concept,” Radjou says. “It’s a way of creating more economic and also social value using fewer resources. It is the ability to do a lot more with a lot less. This may sound banal, but in emerging markets, this is a necessity… Frugal innovation is the unique ability to create solutions that integrate five key variables: affordability, simplicity, sustainability, quality, and the fifth variable is intangible — it’s purpose.”