25 March 2012

Frugal Innovation ~ Emerging Market Leadership

The Economist's Schumpeter reviews two new books on frugal innovation...
"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.

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