During this online keynote, Navi Radjou, co-Author of Jugaad Innovation (2012), highlighted how today's highly complex and turbulent business environment requires multinationals to develop a more frugal and flexible approach to innovation, prevalent in emerging economies such as India, China and Brazil.
He explained the basis of "Jugaad" as a colloquial Hindi term that roughly translates as "an improvised solution born from ingenuity and cleverness". In doing so, Navi emphasised how the concept represents the gutsy art of spotting opportunities in the most adverse circumstances and resourcefully improvising solutions using simple means.
- Doing "more with more": the weak correlation between resources spent on R&D and actual NPI
- Reframing adversity as a source of new innovation
- Thinking and acting flexibly – moving away from Six Sigma and similar methodologies
- Doing more with less – escaping the "bigger is better" R&D approach