JUGAAD INNOVATION

Jugaad refers to solutions that bend the rules. Jugaad is a Hindi word which captures the meaning of finding a low cost solution to any problem in a intelligent way and  is a new way to think constructively and differently about innovation and strategy. Jugaad is applied to any kind of creative and out of box thinking. Jugaad means thinking in a frugal way and being flexible which in turn requires the innovator or entrepreneur to adapt quickly to often unforeseen situations and uncertain circumstances in a intelligent way. Jugaad is increasingly accepted as a management technique. Most of the companies in India are adopting jugaad as a practice to reduce research and development cost.

http://lexicon.ft.com/Term?term=jugaad-innovation

ANALOGY:

Analogy is a process of transferring information or meaning from a particular subject to another subject (or) expression corresponding to such a process. Analogy plays a significant role in problem solving such as decision making, perception, memory, creativity, emotion, explanation and communication analogies are widely recognized as playing an important heuristic role. They have been employed, in a wide variety of settings and with a considerable success to generate insight and to formulate possible situations to problems. Analogies are best guide philosophical investigations.  

http://plato.stanford.edu/entries/reasoning-analogy/

-Team-5