His profit margin was a mere 5% wherein his power & fuel bill used to run up to 45-50% of overall operating costs. Tulsi Tanti set up a textile unit in Surat, sooner he found himself facing the bottlenecks like power shortages.Īlternatively, He compensated by producing power through generators but resulted in very high running costs due to high fuel prices in India. Case study 2: Jugaad gave birth to a completely new business: Allowing his bicycle to run faster on bumpy roads. Kanak das, a resident of North East Indian state, grew riding his bicycle on roads full of potholes & bumps, rather than complaining, he turned this constraint to his advantage by retrofitting his bicycle with a makeshift device that converts the shocks received from bumpy roads to kinetic energy which accelerates the bicycle…. Case study 1: Using adversity to own advantage: To explain the concept, I would like to mention a few case studies of Jugaad innovators cum entrepreneurs as to how they have dealt with situations and innovated to make the lives of their customers easier. Jugaad innovators recognize that consumers in emerging markets are low earners, but high yearners. The practitioners of Jugaad work with what they have got. Unlike many Silicon Valley entrepreneurs, raising capital is the least of their worries. Jugaad innovators are highly resourceful in the face of scarcity. Rather, they rely heavily on rapid prototyping techniques - i.e., they collaborate intimately with customers and use their constant feedback to zero in on the most relevant product features. Jugaad innovators don’t use linear, pre-planned, time-consuming R&D processes. To cater to the emergencies of hospitals in terms of beds, an Indian company has designed beds made of cardboard boxes. Looking at the positive side of the pandemic, it has made people more creative.Ĭheck the picture of one of the elevators wherein the toothpick is being used to press the floor buttons in order to avoid surface touches. Jugaad is based on six fundamental pillars:Ħ. Jugaad is an antidote to the complexity of India: a country of mind-blowing diversity pervasive scarcity of all kinds home to million millionaires (aims to reach by 2020, 1 million millionaires mark) Jugaad is a Hindi word that loosely translates as “the gutsy art of overcoming harsh constraints by improvising an effective solution using limited resources.” I feel, my current topic would help upcoming entrepreneurs to start their ventures in the most economical way. One of the panelists mentioned Jugaad’s philosophy and it inspired me to re-write my previous article on “Jugaad – a frugal & flexible way to innovate” with the context of the current pandemic of Covid19.Īs most of you are aware that I always touch upon topics that relate to either Entrepreneurship, Retailing, Brand management & Leadership. Recently, I was attending a webinar highlighting the importance of “Design thinking” for start-ups. Jugaad- India’s answer to Minimum Viable product
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