How Frugal Innovation is Reviving U.S. Economy

Frugal innovation is the ability to generate more business
and social value while significantly reducing the use of scarce resources. It's
about solving the paradox of 'doing more with less'. Frugal innovation is for the 'Age of Austerity' in
which firms are compelled by cost-conscious and eco-aware consumers, employees,
and governments to create offerings that are simultaneously affordable,
sustainable, and of high quality. This is a whole new mindset, a flexible
approach that perceives resource constraints as a growth opportunity.

Navi Radjou, independent thought leader and strategy
consultant, came for a visit to discuss this new game-changing strategy based
on his book, "Jugaad Innovation." Radjou is a sought-after speaker by our own
Front End of Innovation (FEI) event, as well as the World Economic Forum,
Council on Foreign Relations, The Conference Board, Harvard University, and Asia
Society. He has even coined business concepts such as 'Global Innovation
Networks', 'Polycentric Innovation' and 'Jugaad Innovation'.

To hear more about frugal innovation, listen
to the video below featuring Radjou alongside a panel of thought leaders.