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Frugal Innovation/ Jugad Innovation

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FRUGAL INNOVATION IS THE PROCESS OF REDUCING THE COMPLEXITY AND COST OF GOODS AND ITS PRODUCTION. FRUGAL INNOVATION IS KNOWN BY THE NAME JUGAAD IN INDIA.

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Frugal Innovation/ Jugad Innovation

  1. 1. Ahsan Ahmad Baba
  2. 2. FRUGAL INNOVATION • IN SIMPLE WORDS FRUGAL INNOVATION IS THE PROCESS OF REDUCING THE COMPLEXITY AND COST OF GOODS AND ITS PRODUCTION. FRUGAL INNOVATION IS KNOWN BY THE NAME JUGAAD IN INDIA.
  3. 3. FRUGAL INNOVATIONS OF INDIA High End Fridge which Costs about Rs1,80,000 Mitti Cool Fridge Costs Rs1,800 uses properties of Clay And Water to keep vegetables fresh for at least 5 Days
  4. 4. EXAMPLE TWO Baby Incubator costing Rs12,00,000 Baby Warmer Does 80% of Job that a Incubator does costing Rs12,000
  5. 5. SIX PRINCIPLES OF FRUGAL INNOVATION • THINK AND ACT FLEXIBLY • KEEP IT SIMPLE • INCLUDE THE MARGIN • FOLLOW YOUR HEART • DO MORE WITH LESS • SEEK OPPORTUNITY AND ADVERSITY
  6. 6. THINK AND ACT FLEXIBLY JUGAAD REQUIRES IMPROVISATION RATHER THAN STRATEGIC PLANNING AND FORECASTING. THESE ENTREPRENEURS JUMP IN WITH A PROTOTYPE, AND CORRECT THEIR COURSE AS THEY GO ALONG. WHEN THINGS GO WRONG, THEY ADAPT. THEY START WITH SMALL BUDGETS, TAKE SMALL RISKS, AND CAN QUICKLY CORRECT AND REBOOT AFTER SMALL FAILURES.
  7. 7. WHAT WAS INNOVATIVE IN TATA NANO ? • IT HAD A UNIQUE DESIGN AND FIRST TIME TWO CYLINDER GASOLINE ENGINE HAD BEEN USED IN A CAR. • SAFE AND CONVENIENT FOR ALL WEATHERS. • AFFORDABLE ( CHEAPEST CAR OF WORLD) • ECO FRIENDLY
  8. 8. KEEP IT SIMPLE JUGAAD INNOVATORS ARE LOOKING FOR LOW-TECH “GOOD ENOUGH” SOLUTIONS THAT ARE SIMPLE TO MAKE, USE AND REPAIR. “CREATIVE SIMPLICITY IS JUGAD KEY PRINCIPLE”
  9. 9. WHAT WAS INNOVATIVE IN GINGER GROUP OF HOTELS? • THE TARIFF OF THE HOTELS IS ONE THIRD OF THE OTHER HIGH END HOTELS IN THE SAME CATEGORY. • LOW INVESTMENT COSTS (100 ROOM GINGER HOTEL CAN BE MADE ON 40,000 SQ. FT. WHICH IN CONSIDERABLY LESS THAN THE AREA REQUIRED FOR LUXURY HOTEL. • PARTICIPATING IN SPECIAL ECONOMIC ZONES. • ADAPTING THE MODEL FOR MIXED DEVELOPMENT IS MALLS.
  10. 10. INCLUDE THE MARGIN JUGAAD INNOVATORS CAN SEE, FIRST-HAND, WHAT THE UNSERVED OR UNDERSERVED MARKET NEEDS. THEY ARE DRIVEN BY A SENSE OF FAIRNESS, THAT EVERYONE IS ENTITLED TO BASIC SERVICES LIKE EDUCATION, INFORMATION, HEALTH CARE, BANKING AND ENERGY.
  11. 11. WHAT WAS INNOVATIVE IN TATA HOUSING? • TATA SONS REALIZED THE TREMENDOUS OPPORTUNITY IN AFFORDABLE HOUSING SEGMENT. • IT LAUNCHED “SHUBH GRIHA” ALSO KNOWN AS NANO HOUSING. • THE APARTMENTS IN NANO HOUSING RANGED FROM RS. 90,000 TO 6,70,000 WHICH WERE AFFORDABLE FOR PEOPLE IN LOWER INCOME RAGE. • IT STARTED IT FIRST MUMBAI IN INDUSTRIAL AREA HAVING POPULATION MORE THAN1,25,000 • IT OFFERED FEATURES LIKE TOP QUALITY LIGHTING, VENTILATION, OPEN SPACE, NURSING CARE, SCHOOL, COMMUNITY HALL ETC
  12. 12. FOLLOW YOUR HEART JUGAAD INNOVATORS DO NOT RELY ON FORMALIZED MARKET RESEARCH AND FOCUS GROUPS TO DECIDE WHAT PRODUCT TO MAKE. NOR DO THEY WORRY ABOUT HOW INVESTORS WILL REACT TO A NEW PRODUCT STRATEGY THEY KNOW THEIR CUSTOMERS AND FOLLOW THEIR HEARTS.
  13. 13. WHAT WAS INNOVATIVE ABOUT TATA GOLD PLUS? • TATA LAUNCHED A UNIQUE TOOL CALLED KARAMATER WHICH MEASURES THE PURITY OF THE GOLD BEING SOLD. • ITS WAS THE FIRST COMPANY TO INTRODUCE BRANDED JEWELRY IN THE COUNTRY. • IT INVESTED IN THE HIGH END JEWELRY DESIGNS. THUS CUSTOMER WAS NOT CONFINED TO TRADITIONAL DESIGNS. • IT GAVE PROTECTION TO THE CUSTOMERS BY GIVING THEM GUARANTEE AGAINST PURITY OF THEIR GOLD PRODUCTS.
  14. 14. END OF SLIDE THANK YOU

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