"Reverse Innovation by Vijay Govindarajan and Chris Trimble, and Jugaad Innovation by Navi Radjou, Jaideep Prabhu and Simone Ahuja [...] show that frugal innovation is flourishing across the emerging world. [...] Entrepreneurs everywhere are seizing on the idea of radical cost-cutting. [...] Globalisation is forcing Western firms to provide more value for money. [...] standing still is not an option. Whether or not Western firms sell frugal products in the West, Asian firms will. [...] Some Western companies are turning to emerging markets first to develop their products."Exactly why we run our D-Lab Development Ventures class at MIT.
25 March 2012
Frugal Innovation ~ Emerging Market Leadership
The Economist's Schumpeter reviews two new books on frugal innovation...