#11—Navi Radjou: Striving for a Regenerative Economy and Frugal Innovation

Navi Radjou is a New York-based innovation and leadership scholar who advises senior executives worldwide on breakthrough growth strategies. A Fellow at Judge Business School at the University of Cambridge, Navi has served as vice president at Forrester Research. In 2013, Navi won the prestigious Thinkers50 Innovation Award—given to a management thinker who is re-shaping the way we think about and practice innovation. He delivered a talk at TED Global 2014 on frugal innovation which has over 2 million views. Navi co-authored Frugal Innovation: How To Do Better With Less, as well as the global bestseller Jugaad Innovation (over 250,000 copies sold worldwide) and From Smart To Wise. He is working on his next book Conscious Society: Redefining Who We Are, Reinventing How We Consume, Work, Relate, and Live. In this podcast, Navi discusses with Kaihan what we can do to reinvent how business is done—concepts like frugal innovation and focusing on a regenerative economy—both aimed at making the most of the resources we have to affect a larger social impact. He'll also talk about recovering from Covid-19 in a 'Y' pattern rather than a 'V' as many tend to, and the new opportunities that can create.__________________________________________________________________________________________"So, this is...what regeneration is about. It's essentially going from the old notion of sustainability, which was all about doing less harm, to doing more consciously, to have a more positive impact on the environment, but also the society."-Navi Radjou__________________________________________________________________________________________Episode Timeline:00:00—Introducing Navi Radjou + The topic of today’s episode2:13—If you really know me, you know that...2:43—What is your definition of strategy?6:15—The 'Y' shaped recovery vs. 'V' shaped recovery path11:46—Is technology and crowdsourcing creating a drive for a multi-stakeholder approach?14:48—Digging into the "Regenerative Economy" concept17:31—The concept of "Frugal Innovation"19:36—What should strategists do now? __________________________________________________________________________________________Thank you to our executive producer Zach Ness, our producer Nazanin Homayoun Jam and our editor James Pearce. If you enjoyed this episode, please follow, download, and subscribe. I’m your host, Kaihan Krippendorff—thank you for listening.Follow us at outthinker.com/podcast