Frugal Innovation: How to Do Better with Less, by Navi Radjou and Jaideep Prabhu, chronicles the rise of a frugal economy in the US, Europe, and Japan. It also describes how the topmost companies of the world, across sectors, are adopting frugality into their business models and corporate culture.
Summary of the Book
Companies across the globe are facing pressure from consumers, employees, and even governments to create and deliver first-rate, reasonably priced, and sustainable products and services using as less energy, less capital, and less time as possible. This has led to the development of a new business model that helps them achieve success: frugal innovation or the ability to do more and better with less. This book shows how global business giants like Ford, Pearson, American Express, GE, Levi Strauss, Marks & Spencer, IBM, Novartis, PepsiCo, Siemens, Renault-Nissan, and Unilever are achieving great results by embedding frugality into their way of operating. By functioning faster, better and with relatively lesser cost involved, these frugal pioneers have showed how to tap into an extremely profitable global market for sustainable products while also realizing massive cost savings. The book features more than 50 case studies and is corporate India's guide to reclaiming global leadership in frugal innovation by creating greater economic and social value while reducing the use of resources.
About the Authors
Navi Radjou is an innovation and leadership strategist based in Silicon Valley. He is a Fellow at Judge Business School, University of Cambridge. He is also a World Economic Forum (WEF) faculty member and a regular columnist on Harvard Business Review.org. Radjou is co-author of the bestseller, Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth.
Jaideep Prabhu is Jawaharlal Nehru Professor of Indian Business and Director of the Centre for India & Global Business at Cambridge Judge Business School. His research and consulting expertise lies in the areas of marketing, innovation, strategy and international business. He has consulted for and taught executives from Barclays, Bertelsmann, BP, BT, GE, IBM, ING Bank, the NHS, Nokia, Philips, Roche, Shell, Siemens, Vodafone and Xerox, among several others.