Thursday, 18 October 2018 IMS HomepageHome

Frugal Innovation – How to do more with less.

book cover

Author: Navi Radjou and Jaideep Prabhu
Publisher: Profile
ISBN: 978-1-78125-375-5
Pages: 252

Frugal Innovation is about innovating in the most simple, ingenious and efficient way possible, using the minimum resources. While the philosophy of Lean principles are meaning full the lean concepts s quite limited when it comes to innovation. This is where concept of frugal innovation comes in and it completely changes one’s mind set about understanding and adopting the techniques of innovation. Small start-up businesses don't need big R&D budgets but they can innovate at very little cost.  Frugal is not about producing cheap low quality products but instead is about delivering great value products at an affordable price for both the consumer and the environment.

In this book, Navi and Jaideep suggest six principles one can follow to understand and adopt Frugal Innovation. Every step of the way, the authors use numerous case studies and examples from both emerging and western countries to build the principles. The book also helps you understand that there are now many 'emerging markets even within western markets' that are poorly served by traditional business models.

Increasingly people want businesses to recognise the dangers relating to the sustainability of our planet. In their book Navi and Jaideep demonstrate how to use fugal innovation to develop solutions to sustainability issues.

The authors in Frugal Innovation have produced a good read and in so doing are clearly charting out more than just a new masterplan for increasing profit. They are also sketching a business world which empowers employees and customers alike to deliver greater value across the board.