Cambridge Judge Business School Discussions on Innovation Cambridge University

A new five-day Executive Education programme, 'Making Your Organisation Innovative', aims to embed innovation as a core organisational activity rather than the work of one department.

Professor Stelios Kavadias says the programme will explain the importance of properly leveraging a key driver of innovation - creativity. Creativity lies not just with individuals but it requires many individuals to collaborate so that ideas flow and new solutions can emerge and be tested.

Macroeconomist Michael Kitson argues that a new and much broader innovation policy is needed to create meaningful economic growth. Although investing in technology innovation is important for long-term growth it will not address the current need.

A new and broader innovation strategy should have innovation operating within a system and not just in individual markets. Essential are exchanges of ideas, and the building of both knowledge and networks to help deliver a more innovative economy.

Western demand for frugal innovation has surprised the authors of a book published a year ago, urging the West to look to India, Brazil and China for new approaches.

The book - "Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth" - was co-authored by Jaideep Prabhu, Jawaharlal Nehru Professor of Indian Business & Enterprise. He says the amount of interest shown by the West, from both smaller entrepreneurs and larger companies innovating for Western markets, has been particular striking.

Cambridge Judge Business School and its Belgian counterpart Vlerick in Brussels are among the most prominent business schools in Europe. Together they are offering a unique programme on strategy and innovation.

The two schools are meeting a demand underlined in recent research indicating that one in four companies fails to effectively leverage and commercialise new ideas.

Professor Michael Barrett has been studying a mobile phone-based solution that offers financial access for populations that have no bank accounts in emerging economies. Called M-Pesa ('M' for mobile, and 'Pesa' a Swahili word for money), it was developed by Sagentia in Cambridge and Vodafone.

According to Professor Balram Bhargava, India is poised to lead the way in a decade of innovation underpinned by the need to be frugal, simple and affordable.