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Frugal Innovation clinches CMI Management Book of the Year title, demonstrating how to do more with less

Business writers Navi Radjou and Jaideep Prabhu scoop top award at annual CMI Management Book of the Year Awards

Helping managers innovate with limited resources was a winning approach at the Chartered Management Institute’s (CMI) Management Book of the Year Awards 2016 last night [8 February 2016].

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The Frugal Way to Grow

In China, the Siemens R&D team has designed a high-end computed tomography (CT scanning) device that’s simple enough for health professionals who are not doctors to use. To develop this, the company pioneered a type of innovation it called “industrial design thinking”: The innovators convened workshops with users of its devices and used craft supplies such as colored paper to build models in order to get a clearer idea of what people wanted.

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Aetna's Frugal Healthcare Strategy

Mark Bertolini, the no-nonsense CEO of Aetna — one of the world’s leading health insurers — is not impressed with the U.S. healthcare system. In an interview with strategy+business, Bertolini called the sector “too bloated and accountable to no one.” The system — which will cost US$4.6 trillion, or 20 percent of U.S. GDP, by 2020 — “charges patients and rewards care providers on services delivered, not patient outcomes,” he said.

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Silicon Valley leads the world in frugal innovation

"The ability to do more with less"

While the US lags behind Europe and Asia in Adopting frugal innovation, Silicon Valley is catching up fast. On September 3rd, 2015, at at XEROX PARC Forum, Navi Radjou moderated a panel with Silicon Valley entrepreneurs and academics leading the frugal revolution.

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Leading Frugal Innovation: Mike Barry, Director of Plan A, M&S


Plan A is M&S’s way of protecting the planet by sourcing responsibly, reducing waste and helping communities. As such, there are deep links between Plan A and a culture of frugal innovation.
In this video, Mike Barry, Director of Plan A, and Jaideep Prabhu discuss how a world-class retailer can achieve sustainable growth while taking consumers and employees along.