With a Foreword by Paul Polman, CEO, Unilever. Frugal innovation is a way that companies can develop high-quality products and create more value with limited resources. In today's cost-constrained environment, companies in the developed economies are seeking new routes to long-term business success - while also appealing to cost-conscious and environmentally-aware consumers. With an estimated trillion-dollar global market for sustainable products, and with potentially huge cost savings to be gained, frugal innovation is revolutionising business and reshaping management thinking. This seminal book gives an overview of the principles, perspectives and techniques behind frugal innovation, connecting with key contemporary business concepts such as the sharing and circular economies and the maker movement. It offers a blueprint for leaders and managers in companies of all sizes and across all sectors on how to profit from doing business frugally.
Based on the authors' six key principles of frugal innovation, and packed with targeted advice and recommendations for business functions such as RD, operations, HR and sales, Frugal Innovation is a masterclass in the art of doing more with less.
Join the revolution that's changing business and reshaping management thinking: frugal innovation.
The book is enlivened by fascinating case studies Financial Times A very accessible and engaging book -- Frank Dillon Irish Times [The ideas of Radjou and Prabhu] are exciting because they challenge many fundamental assumptions about how and why companies innovate; and they are important because frugal innovation is an idea of and for our times. This book will accelerate the re-invention of how we understand and practice innovation. -- Stuart Crainer Des Dearlove, founders, Thinkers50 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 standard. The future will be about doing more with less, and here we see how. -- Kevin Roberts, CEO Worldwide, Saatchi Saatchi A vivid picture of how business can blend values and quality to deliver the personal and social balance that 21st century consumers want. -- Mike Barry, Director of Sustainable Business (Plan A) at Marks Spencer The book is of great relevance to the financial services industry and banks like Barclays that are working with new technologies and start-ups to help customers manage their finances better. -- Elisabetta Osta, Managing Director, Design Office Information, Insight Innovation Team, Barclays Bank With the cost of RD increasing year on year, it is important for pharmaceutical companies to keep a focus on ensuring positive returns from investment in RD and innovation. Frugal Innovation is a timely book that provides insightful and practical guidance to firms trying to do more with less. -- Stephen Mayhew, Head, RD Strategy Development, GSK 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
Navi Radjou is an innovation and leadership advisor based in Silicon Valley. He is a Fellow at Judge Business School, University of Cambridge, and winner of the 2013 Thinkers50 Innovation Award. Jaideep Prabhu is Professor of Marketing and Director of the Centre for India Global Business at Cambridge Judge Business School. Both authors were named on the Thinkers50 list of management thinkers 'most likely to shape the future of how organisations are managed and led'