Abstract

Book online at http://www.cambridgejudgebriefings.com

Stagnant incomes and greater concerns about the environment are making Western consumers both more value and values conscious. Further, ordinary people in the West are increasingly empowered to do with limited resources what only large firms could do in the past. Ubiquitous tools and technologies such as smartphones, cloud computing, 3D printers, crowdfunding, and social media, have given rise to grassroots innovation and entrepreneurship exemplified by the maker movement and the sharing economy.

This talk will discuss how the phenomenon of frugal innovation – the creation of faster, better and cheaper solutions that employ minimal resources – is taking off in the West, giving rise to new sources of growth. The talk will argue that frugal innovation holds the key to driving global growth by employing more people creatively and solving some of the big problems of poverty and inequality that stalk the planet. The talk will highlight examples of such innovation by entrepreneurs, emerging market firms and multinationals in both the North and South, and discuss the challenges and opportunities for small and large firms alike.

Cambridge Judge Business School would like to thank BNY Mellon for its sponsorship of the Business Briefings International Series for 2015.