How Paul Polman learned to love frugal innovation

01/11/2013 |

Chief executives such as Paul Polman of Unilever and Carlos Ghosn of Renault-Nissan have embraced "jugaad" innovation, which focuses on frugality and resourcefulness in the face of constraints, write Navi Radjou and Jaideep Prabhu. Other Western bosses likely will follow suit as they see the rewards reaped by jugaad firms. "In doing so, more Western firms will be able to innovate faster, better, and cheaper," Radjou and Prabhu write.

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