In India we have several innovative ideas however we lack bringing innovative products
By demonstrating agility, Jugaad innovators can deal with unanticipated challenges faster and seize unexpected opportunities-such as changing customer needs-more swiftly than their competitors. 21st century businesses would only run and won by the engine known as “Innovation”.
Emerging markets are characterized by high volatility. Economic circumstances are constantly changing. Growth rates are often in double digits, and the competitive landscape is often shifting. New laws and regulations are constantly being put into place, and policy is constantly evolving. So, Jugaad innovators need to experiment as they go along and be willing to try multiple options, rather than adopting one approach at the start and sticking to it thereafter. Unlike their counterparts in Silicon Valley, Jugaad innovators do not attempt to work everything out in advance or rely on a business plan to determine the mid- to long-term roadmap for their new ventures. Instead, they improvise their next course of action as circumstances change, and they do so from within a framework of deep knowledge and passion for and with the marginal community purpose. Their approach is in fact more akin to a jazz band than to an orchestra: everything is improvised, fluid, and dynamic. As such, their strategies are organic and emergent rather than predetermined. Jugaad innovators’ flexible thinking—their ability to improvise—serves them especially well when confronted with adversity.
Vis-à-vis in the developed Nations the structured approach (Six-Sigma) for innovation is too expensive including time and resource consuming. The industrialization of the creative process led to a structured process and approach to innovation with the key following key characteristics e.g. Big Budgets, Standardized business process and controlled access to knowledge while its been assumed that the business environment would be never changing. However, on the contrary due to the absence of the stability in the economies and viewing the future resource constraints now western businesses are looking towards the BRIC countries especially Indian businesses fired with Jugaad Innovation which would lead the global businesses for another few more decades with a constant growth rate of more than GDP 6% PA.
The workshop is designed to enable participants to:
· Understand the value of Jugaad mindset and Jugaad Innovation over structured approach.
· It’s a tool to survive within volatile business environment than complement structured approach (Six Sigma).
· Understanding unstructured innovation dimensions and imbibe mindset within the enterprises and sustain.
· Benefits of Jugaad innovation to market existence and expertise.
· Gain competitive intelligence.
· Be an industry leader - not a follower.
· Set your vision and mind for Jugaad Innovation to drive future enterprises.