Jugaad – it’s much more than ‘frugal innovation.’ Jugaad is innovation and business nous. It’s a way of enabling, enriching, and delivering outcomes in situations where the odds are stacked against success.
In a culturally diverse country like India, the concept of Jugaad is more than a topic of study in business schools. It applies to everyday life, visible in every strain of the commerce ecosystem.
What’s one to do when one is stuck in a tight place? Why, invent a way out. Because situations of challenge demand innovation, when resources and time are scarce, intuition and experience enable you to make a decision that works best.
For many years, Indian entrepreneurs have held the handshake and spoken agreement on par with a signed contract. The system might sound odd to the uninitiated, but it is exactly how India’s unwritten business acumen has flourished.
Of course, the best way to learn about Jugaad is to see it for yourself. Come experience it firsthand this October at the 2017 EO Hyderabad University.