Business Daily Africa: The power of innovating by being frugal

Jaideep Prabhu, Professor of Marketing at Cambridge Judge Business School, comments on frugal innovation in business. “Simply put, it is about applying human ingenuity to create faster, better and cheaper solutions for more people in core areas such as financial services, health, education and energy,” Jaideep says. “Big corporations are increasingly lean and no longer hire the large numbers of people like they did in the past. And so, entrepreneurship is more than ever a key driver of growth, both in terms of output as well as in generating employment.”

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