CEOs of large companies face a conundrum: they are confronted with a growing number of frugal consumers clamoring for affordable solutions, yet their existing corporate culture and incentive systems are designed to support a “bigger is better” business model — not to deliver more with less. As the Age of Austerity dawns, however, corporate leaders will have no choice: they will have to bite the bullet and infuse their organizations with a frugal mindset. In sum, CEOs need a frugal innovation agenda… As written by Professor Jaideep Prabhu, Cambridge Judge Business School, along with Navi Radjou and Simone Ahuja…”
Read the full article [blogs.hbr.org]
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