Keys to Frugal Innovation

Leaders interested in innovation, creativity, and establishing a culture that can achieve great things must watch this Ted talk. I want to emphasize three important concepts from this talk:
  1. Use what’s most abundant to solve what’s scarce.
  2. The West solves problems by applying more to more, while the developing nations solve problems by applying what’s more to less.
  3. The three principles of frugal innovation are consistent with great strategic thinking:
  • Keep it simple.
  • Don’t reinvent the wheel.
  • Think and act horizontally (scale out not up).

The Results of Frugal Innovation

Agility, creativity, and big problems solved with what’s available and in a simple way.