Jaideep Prabhu, Jawaharlal Nehru Professor of Indian Business & Enterprise at Cambridge Judge, comments on how people in the South Asia region are coming up with creative solutions to do more with less and how companies in the region are adopting jugaad innovation. “In the West, companies invest heavily in research and development and when they develop their product, they charge a high price which their consumer can afford. But in emerging economies, consumers cannot afford expensive products. So companies need to keep a smaller profit margin and scale up their businesses to remain sustainable,” he said.
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