'Jugaad' Inspires in Driving Sustainability on a Global Scale
Emerging markets like India are giving the West lessons on how to adjust their business models to be more innovative, resourceful, and promote growth for sustainability. In a discussion at Asia Society New York on June 8, authors of the book Jugaad Innovation, Navi Radjou and Simone Ahuja joined CEO and Chairman of Renault-Nissan Carlos Ghosn to discuss the key concepts behind "jugaad" — a frugal and flexible approach to innovation. The program was moderated by Frank Brown of General Atlantic.
"People from any country can bring something to the global perspective," said Ghosn. Ghosn, who is featured in Jugaad Innovation, shares his discoveries as the head of a large company whose goal was to expand in India. He was struck by the fact that this became a two-way street where he came to sell but at the same time learned the Indian mindset and processes. One of his key takeaways is, "In our countries…in Japan or France or in the United States, you know when the resources are not enough, you just give up … while in India, there is no giving up."
Reported by Aarti Chawla
Video: Highlights from Jugaad Innovation: Reigniting American Ingenuity (5 min., 9 sec.)