Those who dare, do. Those who do, make history. Those who make history live forever.
When it comes to Jugaad, the ability to do more with less is but one aspect. Seeing opportunities where others only perceive a challenge; triumphing in the face of adversity; putting the power to effect change in the most capable hands. Jugaad encompasses a diverse array of business approaches and scenarios, which is what makes it so inclusive.
Take the example of Mansukhbhai Prajapati, a farmer from Gujarat and the inventor of MittiCool: an earthen cooling fridge, made frugally without any need for electricity, and 100% biodegradable. In the face of India’s two-pronged struggle with sweltering heat and sparse access to electricity outside cities and towns, Mansukh devised a method that surmounted both obstacles and remained true to India’s affinity for earthen products.
Or look at the case of PayTM and its founder, Vijay Shekhar Sharma. Founded only in 2010, the Delhi-based startup is valued in excess of USD $5 billion, employs over 13,000 employees, and has 3 million offline partner merchants. In March 2017, it expanded to its first overseas market: Canada. All Sharma had to do was identify a Jugaad-worthy situation, and he did. Indians had begun to embrace mobile technology, which was getting more cost-effective and therefore widespread. Digital finances were traveling a parallel path. All he did was merge the two roads.
The benefits of embracing Jugaad are also evident at the highest levels, with the likes of Reliance founder Dhirubai Ambani, who started by exporting Indian yarn and spices to Yemen before sitting at the helm of a multi-billion-dollar corporation. Or the two-time Olympic wrestling champion Sushil Kumar, whose childhood was mired in his parents’ struggle to afford his expensive athlete’s diet and put food on the table for the rest of the family.
Jugaad is not just for MBA graduates and business scions. Like the very air we breathe, it is present in our very DNA. Every single one of our brilliant billion. And by attending the 2017 EO Hyderabad University, you can pull off some Jugaad of your own and imbibe the very best this global lesson has to offer.
