Posts Tagged "austerity"

Frugal Innovation

Frugal Innovation

Scarcity has become a major driver for innovation. The bleaker economy of the last few years has thrust companies, organizations, universities – and entire countries – into an austerity mode. In the context of this changed economy when it seems everything has to be faster, better and cheaper, there’s a type of innovator who’s thriving: the jugaad innovator. Jugaad is a Hindi word that translates not only to a noun – it’s a fix, a work-around, an innovative solution – but it also encompasses an entire spirit of resourcefulness and resilience.

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