Jugaad Innovation - Jugaad King

In the previous post we saw some of the challenges faced by the large firms of today. These challenges are generating constraints within the environment in which large firms operate. These challenges could be used to create the need for innovation of it can cripple the corporate leader’s decision making process. Some of the reasons leaders fail to take advantage of the adversity are mentioned below. Failing to notice or ignore the early warnings: Leaders of large firms often fail to notice the shifts in demographic, technology and regulations. Gary Hamel, author of ‘The Future of Management’ notes that many executives don’t pay sufficient attention to the early warning signs. For instance, after the September 11, 2001 terror attacks on the US, the economy saw red. People after that were looking for cheaper cars according to the car manufactures like GM and Ford. They failed to notice that they were not only looking for cheaper cars but also eco friendly and fuel efficient cars.