CMI Management Book of the Year Award 2016

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 R&D, operations, HR and sales, Frugal Innovation is a masterclass in the art of doing more with less.

"Jugaad Innovation is the most comprehensive book yet to appear on the subject [of frugal innovation]."
—The Economist

A frugal and flexible approach to innovation for the 21st century

Innovation is a key directive at companies worldwide. But in these tough times, we can't rely on the old formula that has sustained innovation efforts for decades—expensive R&D projects and highly-structured innovation processes. Jugaad Innovation argues the West must look to places like India, Brazil, and China for a new approach to frugal and flexible innovation. The authors show how in these emerging markets, jugaad (a Hindi word meaning an improvised solution born from ingenuity and cleverness) is leading to dramatic growth and how Western companies can adopt jugaad innovation to succeed in our hypercompetitive world.

• Outlines the six principles of jugaad innovation: Seek opportunity in adversity, do more with less, think and act flexibly, keep it simple, include the margin, and follow your heart
• Features twenty case studies on large corporations from around the world—Google, Facebook, 3M, Apple, Best Buy, GE, IBM, Nokia, Procter & Gamble, PepsiCo, Tata Group, and more—that are actively practicing jugaad innovation
• The authors blog regularly at Harvard Business Review; their work has been profiled in BusinessWeek, MIT Sloan Management Review, The Financial Times, The Economist, and more
• Filled with previously untold and engaging stories of resourceful jugaad innovators and entrepreneurs in emerging markets and the United States

This groundbreaking book shows leaders everywhere why the time is right for jugaad to emerge as a powerful business tool in the West—and how to bring jugaad practices to their organizations.

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 author's six key principles of frugal innovation, and packed with targeted advice and specific recommendations for business functions such as R&D, operations, HR and sales and marketing, Frugal Innovation is a masterclass in the art of doing more with less.

Leaders tend to obstinately stick to the leadership style that brought them most success in the past, usually one of two extreme styles: functional leadership that focuses on operational excellence or smart leadership that focuses on growth. When a leader's focus is too functional, the organization becomes introverted and can focus too much on bottom-line profitability while missing out on top-line growth opportunities. But when leaders focus too much on smart leadership, the organization may experience quick growth but lose its effectiveness quickly.

From Smart to Wise offers a new approach that balances the two styles to achieve a form of wise leadership that is both functional and smart. Drawing on inspiring real-life stories of historical and contemporary wise leaders such as Bill Gates, Warren Buffet, and even Mahatma Gandhi, the authors identify six characteristics of wise leaders and offer a practical framework to help readers develop their own style of wise leadership.

• A timely and innovative approach to leadership
• Written by noted speakers who conduct dozens of keynote speeches and workshops, training thousands of people annually