Professional Documents
Culture Documents
Entrepreneurship Assignment 4
Entrepreneurship Assignment 4
ENTREPRENEURSHIP
ASSIGNMENT # 4
Navi Radjou
Radjou is an innovation and leadership advisor based in Silicon Valley. He won the 2013
Thinkers50 Innovation Award and spoke at TED Global 2014. He is a regular contributor to
Harvard Business Review online. Previously, he served as Vice President at Forrester Navi
Research in Boston and San Francisco. An Indian-born French national, Navi lives in Palo Alto,
California.
Engage and Iterate: Earlier models of top-down R&D are time consuming,
inflexible, complex, and expensive, and can alienate customers and cause excess
environmental waste. Though 90 per cent of corporate R&D spend occurs in the West
and Japan, an estimated 80 per cent of new products fail at launch. A better solution
would be a market-focused, agile R&D model, starting off with good-enough solutions
based on active and immersive customer involvement. Iterative prototyping and high-
speed innovation call for new kinds of titles and incentives.
Flex your Assets: New materials, manufacturing tools, and supply chain techniques
can reduce the supply-demand gap and improve distribution and procurement. These
range from carbon fiber and 3D printers to micro-factories and supply chain analytics.
Shape Customer Behavior : In addition to changing their own goals and structures,
companies can also actively engage with their customers to promote sustainable living.
Visualization tools, self-monitoring, gamification, social comparison, social learning and
storytelling are useful techniques here to motivate, nudge, inspire, and empower
customers.
Make Innovative: friends The need for hyper-collaboration calls for increasing skills
in big companies to partner with suppliers, competitors, government, hackers, tinkerers
and startups. (Also see my article 15 innovation tips: how large corporations can
successfully engage with startups.) Companies need innovation brokers who understand
the language of the organization, its creative partners and customers. Corporations need
to become more agile and not just file patents but monetize them.
CONCLUSION:
The concluding chapter ties these principles together by showing that such impacts can be
brought about only by bold leadership, setting of inspirational goals, choosing measurable
targets, reinventing business models, and cultural change management.
EXAMPLES: Of Frugal Innovations In Pakistan
As Pakistanis, we have experienced such scenarios multiple times in the real world. Yes, load-
shedding! The time when we are yanked back to the real world from our so-called digital lives
and we cannot stop complaining about an hour of misery.
a) Recently, Pepsi held a successful CSR campaign in collaboration with Liter of Light
Pakistan to brighten up IDP camps. They converted up-cycled Pepsi bottles into solar
powered lights which were installed in houses, hospitals and localities. The campaign
made a real difference in the lives of the people in the Jalozi camp. This is the classic
example of frugal innovation, a topic Tech Juice shed a light on a few months ago. Yes,
frugal innovation is possible in Pakistan