In Jugaad Land
“Taking Jugaad from grassroots to global. The good news is that India now firmly believes that Indians have an innate innovation streak and that it is something worth nurturing.” The world over, businesses are obsessing about innovation. The developed world worries about disruptive innovations coming from emerging markets and hurting them in their home markets; while the emerging world, despite all the domestic challenges they face, is trying hard to prove them right. But what actually is innovation? A good, simple, working definition is that innovation is about new and unusual ways of thinking which, when implemented, can solve the hard-to-solve problems; or more generally, can help improve the outcomes of actions, resulting in greater financial and / or social value. Really successful innovations, by definition, have a larger impact, and can help transform businesses, societies and countries. A combination of greed and fear has forced India Inc. to actively […]