The CEO’s Frugal Innovation Agenda – HBR

A good read on some important ingredients to include in your innovation tasks.   It is innovation with issues uppermost in today’s world.

Excerpt:  CEOs of large companies face a conundrum: they are confronted with a growing number of frugal consumers clamoring for affordable solutions, yet their existing corporate culture and incentive systems are designed to support a “bigger is better” business model — not to deliver more with less. As the Age of Austerity dawns, however, corporate leaders will have no choice: they will have to bite the bullet and infuse their organizations with a frugal mindset. In sum, CEOs need a frugal innovation agenda.

Frugal innovation is the ability to innovate cost-effectively and sustainably under severe resource constraints.

Read full article via The CEO’s Frugal Innovation Agenda – Navi Radjou, Jaideep Prabhu, Simone Ahuja – Harvard Business Review.

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