In the global business landscape, increasingly defined by trends such as the sharing economy and the maker movement, companies the world over are facing pressure from consumers, employees and governments to create and deliver first-rate, affordable and sustainable products and services using less energy, less capital and less time. This has led to the development of a new model for business success: Frugal Innovation or the ability to do more and better with less.
In this seminal book on a revolutionary worldwide phenomenon, innovation experts Navi Radjou and Jaideep Prabhu chronicle the rise of a frugal economy in the US, Europe and Japan and show how the world's top companies across sectors American Express, Ford, GE, IBM, Levi Strauss, Marks and Spencer, Novartis, Pearson, PepsiCo, Renault Nissan, Siemens and Unilever are achieving great success by embedding frugality into their business models and corporate culture. By doing business faster, better and cheaper, these frugal pioneers have demonstrated how to tap into a trillion dollar global market for sustainable products while realizing huge cost savings.
Featuring over 50 case studies and identifying, for the first time, the principles, perspectives and techniques behind frugal innovation, this inspiring and significant book is Corporate India's guide to reclaiming global leadership in frugal innovation by generating greater economic and social value while minimizing the use of resources.
Frugal Innovation: How to do Better With Less | Navi Radjou | Jaideep Prabhu | Hachette India
Table of Contents
Chapter 1: Frugal innovation: a disruptive growth strategy
The rise of the frugal economy, Doing better with less, Unusual frugal competitors
Chapter 2: Principle one: engage and iterate
A costly and rigid R&D model, A market-focused, agile R&D model, Back-end innovation: improving execution agility
Chapter 3: Principle two: flex your assets
The rise of frugal manufacturing, Creating a frugal supply chain, A frugal services revolution, Frugal organisations
Chapter 4: Principle three: create sustainable solutions
Essential - not optional - sustainability, The rise of the circular economy, Widening the sharing economy, From the circular to the spiral economy
Chapter 5: Principle four: shape customer behaviour
Three contradictions of contemporary consumption, Shaping consumers' energy use, DIY health care, Socialising education, Breaking (bad) financial habits
Chapter 6: Principle five: co-create value with prosumers
The rise and rise of the prosumer, The rise of the horizontal economy, Empowering and engaging prosumers, Multiple customer roles
Chapter 7: Principle six: make innovative friends
The hyper-collaboration imperative, Six ways to hyper-collaborate, Getting hyper-collaboration right
Chapter 8: Fostering a frugal culture
Evolutionary change, The "what": bold commitment and dynamic goal setting, The "how": adopting disruptive business and mental models, The "why": the foundation of change management
LINK FOR THE BOOK
https://www.amazon.com/Frugal-Innovation-more-Economist-Books/dp/1610395050