Frugal Innovation wins Management Book of the Year

Frugal Innovation by Navi Radjou and Jaideep Prabhu (Profile/Economist Books) has been named the Chartered Management Institute’s (CMI) Management Book of the Year 2016.

Radjou and Prabhu were awarded the £5,000 top prize by CMI in a “hotly contested” competition that saw a “record” 170 entries.

In Frugal Innovation, Prabhu, professor of business and enterprise at the University of Cambridge’s Judge Business School, and Radjou, fellow at Judge Business School, give an overview of the principles, perspectives and techniques managers can use to "consistently perform at the top of their game", with limited resources. It offers a "blueprint for leaders and managers in companies of all sizes and across all sectors on how to do more (and better) with less."

Paul Polman, c.e.o. of Unilever who provided the foreword to Frugal Innovation, said: “Radjou and Prabhu have set out an essential roadmap for those wishing to navigate a volatile business environment and richly deserve this accolade from CMI. The concept of frugal innovation is a business priority, and should inform the professional development of every manager and leader. It’s not enough for companies to just do more with less; they must learn to do better with less.”

The award, which run in association with The British Library and sponsored by Henley Business School, was judged by a panel of leading business and management figures.

The winning book was selected by Patrick Dunne, chairman of D30; Andy Rubin, chairman of Pentland Blands plc; Professor Rebecca Taylor, dean and director of studies at the Open University Business School; Valerie Dias, chief risk and compliance officer of Visa Europe; and Diane Lees, director general of the Imperial War Museums.

Dunne said: “Chairing the judging panel is an absolute joy given the diversity of the topics and the judges’ perspectives. What made Frugal Innovation stand out this year was its absolute relevance to managers across all sectors and levels and the growing urgency with which we need to use less of the world’s resources.”

Ann Francke, chief executive of CMI, said: “Frugal Innovation sets out for organisations big and small the blueprint for being more agile to deal with the demands of the digital age. Doing more with less is a mantra that applies equally to how companies must innovate and to redefining values for sustainable business. This major shift in thinking delivers essential lessons for 21st Century managers and leaders.”

Phil Spence, chief operating officer of The British Library, said: “The Library is committed to supporting and stimulating all kinds of research, and supporting managers is a key part of that, whether by our Management and Business Studies Portal, which offers free access to up-to-the-minute research, our ‘British Library On Demand’ service or our Business & IP Centre.

“The CMI Management Book of the Year competition celebrates the very best management writing, and we’re thrilled to be involved again this year to support this important area of publishing.”

Management Book of the Year Awards 2017 opens for entries on 1st April 2016.