The session – Innovation in Indian Business: “Just” Jugaad? Had Dr. Simone Ahuja, co-author, Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth; B S Nagesh, chairman Rai, founder – TRRAIN, Prof. Piyush Kumar Sinha, PGDM (IIMA); Vispy Doctor, owner, ORMAX, Consumer research and brand consulting. The session was moderated by R Sriram, co-founder, Next Practice Retail.

Ahuja stressed on finding opportunity in adversity and applying flexible thinking instead of linear thinking. The session took an interesting turn when Nagesh came up with a particular challenge that he faced while conducting a training programme at nominal fees. The student demand was of more discount. So how to cope with such a challenge? Sinha provided a solution that customer’s incapability should be passed on to the other stakeholders in the project. He also viewed that an entrepreneur should keep in mind target pricing before framing a business model. However, Doctor felt that with lower price the customer’s perception of the value of offerings degenerated. Sriram emphasized on subsidized model in such cases. When the discussion comes to sporting acceptance of failure, Nagesh said that it was imperative to communicate failures that could lead to more jugaad like innovations.

The closing remarks by Kumar Rajagopalan, ceo, RAI hoped that every participant at the summit effectively leveraged on the four C’s – Connect, Converse, Collaborate and Contribute and announced the dates of the 2014 RLS to be held on February 06 – 07, 2014.s