Frugal Innovation clinches CMI Management Book of the Year title, demonstrating how to do more with less

Business writers Navi Radjou and Jaideep Prabhu scoop top award at annual CMI Management Book of the Year Awards

09 February 2016 – Helping managers innovate with limited resources was a winning approach at the Chartered Management Institute’s (CMI) Management Book of the Year Awards 2016 last night [8 February 2016]. Frugal Innovation, by Navi Radjou and Jaideep Prabhu and published by Profile (Economist Books), was awarded the £5,000 top prize by CMI in a hotly contested competition in a year that saw a record 170 entries.

The book first won in the ‘Innovation and Entrepreneurship’ category as the read that will “best inspire innovation, encourage business or product development or support organisational development and adaptability”.

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, CEO, Unilever who provided the foreword to Frugal Innovation, commented:

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 is run in association with The British Library and sponsored by Henley Business School, is judged by a panel of leading business and management figures. The winning book was selected by Patrick Dunne (Chairman of D3O), Andy Rubin, (Chairman of Pentland Brands 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).

Patrick Dunne, Chair of the Final Panel of Judges, explained why the book impressed the group:

“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, which runs the competition, 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, which supports the competition, 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.”

The winning book identifies six principles that large firms can adopt to innovate faster, better and cheaper. These include:

  • Engaging and iterating to continuously improve
  • Flexing assets to make big companies more agile
  • Developing sustainable solutions to reduce environmental footprints
  • Shaping customer behaviour through apps and big data
  • Co-creating value with prosumers
  • Partnering with other innovative companies.

To embed these effectively, firms must be able to embrace large-scale change that starts and the top and works down.

Launched in 2010, the CMI Management Book of the Year Awards help managers choose between the thousands of management books published every year. The winners are those easily accessible reads that offer practical lessons for managers that can be applied on an everyday basis.

Management Book of the Year Awards 2017 opens for entries on 1 April 2016. Follow the hashtag #managementgold on Twitter for further updates and to get tips, advice and information on the books in this year’s competition.

For the full list of shortlisted books and content, please visit: www.managementbookoftheyear.org.uk

The Management Book of the Year category winners are:

Innovation and Entrepreneurship:

Frugal innovation: how to do more with less by Navi Radjou and Jaideep Prabhu

Published by Profile (Economist Books)

 

Management Futures:

Big data: using SMART big data, analytics and metrics to make better decisions and improve performance by Bernard Marr

Published by Wiley

 

Practical Manager:

Neuroscience for leadership: harnessing the brain gain advantage by Tara Swart, Kitty Chisholm and Paul Brown

Published by Palgrave Macmillan

 

The Commuter’s Read:

When digital becomes human: the transformation of customer relationships by Steven Van Belleghem

Published by Kogan Page

 

Management and Leadership Textbook:

iLEAD: tools and techniques for aspiring leaders by Stuart Duff

Published by Pearn Kandola Publishing

 

-Ends-

For further press information and interviews please contact:

Matt Robshaw at Good Relations on 020 7861 3145 / cmi@goodrelations.co.uk

NOTES TO EDITORS

About the competition

The Management Book of the Year competition, which is now in its sixth year, was created to uncover the best books on management and leadership, and help raise the profile of the great management writing distributed in the UK.

The winners of the five categories and the overall winner – who has scooped a £5,000 prize – were announced at an awards evening at The British Library on 8 February 2016.

A full listing of the shortlisted books and more details on the expert judging panel are available via the competition website www.managementbookoftheyear.org.uk. Follow the hashtag #managementgold on Twitter to get tips, advice and information on the books in this year’s competition.

Last year’s overall winner was Not Knowing by Steven D’Souza and Diana Renner. Previous overall and category winners include Richard Newton, Christopher Bones, Henry Mintzberg, Clayton M. Christensen and Philip Kotler.

CMI

  • CMI – the Chartered Management Institute – is the only chartered professional body for management and leadership, dedicated to improving managers’ skills and growing the number of qualified managers.
  • Our professional management qualifications span GCSE to PhD equivalent levels, including the unique Chartered Manager award which increases earnings potential and improves workplace performance.
  • We provide employers and individual managers with access to the latest management thinking and with practical online support which helps them embrace change, create high performing teams and keep ahead of the curve.
  • With a member community of 120,000 managers and leaders, we promote high standards of ethical practice through our Professional Code of Conduct, and help managers build their expertise through online networks, regional events and mentoring opportunities.
  • Visit www.managers.org.uk for more information.

The British Library

The British Library is the national library of the United Kingdom and one of the world's greatest research libraries. It provides world class information services to the academic, business, research and scientific communities and offers unparalleled access to the world's largest and most comprehensive research collection. The Library's collection has developed over 250 years and exceeds 150 million separate items representing every age of written civilisation and includes books, journals, manuscripts, maps, stamps, music, patents, photographs, newspapers and sound recordings in all written and spoken languages. Up to 10 million people visit the British Library website - www.bl.uk - every year where they can view up to 4 million digitised collection items and over 40 million pages. 

Henley Business School

Henley Business School is one of the oldest business schools in the UK, having been established in 1945. Henley is in the 1% of all business schools worldwide to hold triple-accredited status from the leading UK, European and US accrediting bodies – AMBA, EQUIS and AACSB. It is known for empowering individuals to become great professionals and outstanding business leaders who think with clarity and act with confidence and conviction. Its distinctive approach is proven to deliver results for individuals and businesses alike.

                                                          

 

PRESS RELEASE

Embargoed until 00.01 09 February 2016

Frugal Innovation clinches CMI Management Book of the Year title, demonstrating how to do more with less

Business writers Navi Radjou and Jaideep Prabhu scoop top award at annual CMI Management Book of the Year Awards

09 February 2016 – Helping managers innovate with limited resources was a winning approach at the Chartered Management Institute’s (CMI) Management Book of the Year Awards 2016 last night [8 February 2016]. Frugal Innovation, by Navi Radjou and Jaideep Prabhu and published by Profile (Economist Books), was awarded the £5,000 top prize by CMI in a hotly contested competition in a year that saw a record 170 entries.

The book first won in the ‘Innovation and Entrepreneurship’ category as the read that will “best inspire innovation, encourage business or product development or support organisational development and adaptability”.

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, CEO, Unilever who provided the foreword to Frugal Innovation, commented:

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 is run in association with The British Library and sponsored by Henley Business School, is judged by a panel of leading business and management figures. The winning book was selected by Patrick Dunne (Chairman of D3O), Andy Rubin, (Chairman of Pentland Brands 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).

Patrick Dunne, Chair of the Final Panel of Judges, explained why the book impressed the group:

“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, which runs the competition, 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, which supports the competition, 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.”

The winning book identifies six principles that large firms can adopt to innovate faster, better and cheaper. These include:

  • Engaging and iterating to continuously improve
  • Flexing assets to make big companies more agile
  • Developing sustainable solutions to reduce environmental footprints
  • Shaping customer behaviour through apps and big data
  • Co-creating value with prosumers
  • Partnering with other innovative companies.

To embed these effectively, firms must be able to embrace large-scale change that starts and the top and works down.

Launched in 2010, the CMI Management Book of the Year Awards help managers choose between the thousands of management books published every year. The winners are those easily accessible reads that offer practical lessons for managers that can be applied on an everyday basis.

Management Book of the Year Awards 2017 opens for entries on 1 April 2016. Follow the hashtag #managementgold on Twitter for further updates and to get tips, advice and information on the books in this year’s competition.

For the full list of shortlisted books and content, please visit: www.managementbookoftheyear.org.uk

The Management Book of the Year category winners are:

Innovation and Entrepreneurship:

Frugal innovation: how to do more with less by Navi Radjou and Jaideep Prabhu

Published by Profile (Economist Books)

 

Management Futures:

Big data: using SMART big data, analytics and metrics to make better decisions and improve performance by Bernard Marr

Published by Wiley

 

Practical Manager:

Neuroscience for leadership: harnessing the brain gain advantage by Tara Swart, Kitty Chisholm and Paul Brown

Published by Palgrave Macmillan

 

The Commuter’s Read:

When digital becomes human: the transformation of customer relationships by Steven Van Belleghem

Published by Kogan Page

 

Management and Leadership Textbook:

iLEAD: tools and techniques for aspiring leaders by Stuart Duff

Published by Pearn Kandola Publishing

 

-Ends-

For further press information and interviews please contact:

Matt Robshaw at Good Relations on 020 7861 3145 / cmi@goodrelations.co.uk

NOTES TO EDITORS

About the competition

The Management Book of the Year competition, which is now in its sixth year, was created to uncover the best books on management and leadership, and help raise the profile of the great management writing distributed in the UK.

The winners of the five categories and the overall winner – who has scooped a £5,000 prize – were announced at an awards evening at The British Library on 8 February 2016.

A full listing of the shortlisted books and more details on the expert judging panel are available via the competition website www.managementbookoftheyear.org.uk. Follow the hashtag #managementgold on Twitter to get tips, advice and information on the books in this year’s competition.

Last year’s overall winner was Not Knowing by Steven D’Souza and Diana Renner. Previous overall and category winners include Richard Newton, Christopher Bones, Henry Mintzberg, Clayton M. Christensen and Philip Kotler.

CMI

  • CMI – the Chartered Management Institute – is the only chartered professional body for management and leadership, dedicated to improving managers’ skills and growing the number of qualified managers.
  • Our professional management qualifications span GCSE to PhD equivalent levels, including the unique Chartered Manager award which increases earnings potential and improves workplace performance.
  • We provide employers and individual managers with access to the latest management thinking and with practical online support which helps them embrace change, create high performing teams and keep ahead of the curve.
  • With a member community of 120,000 managers and leaders, we promote high standards of ethical practice through our Professional Code of Conduct, and help managers build their expertise through online networks, regional events and mentoring opportunities.
  • Visit www.managers.org.uk for more information.

The British Library

The British Library is the national library of the United Kingdom and one of the world's greatest research libraries. It provides world class information services to the academic, business, research and scientific communities and offers unparalleled access to the world's largest and most comprehensive research collection. The Library's collection has developed over 250 years and exceeds 150 million separate items representing every age of written civilisation and includes books, journals, manuscripts, maps, stamps, music, patents, photographs, newspapers and sound recordings in all written and spoken languages. Up to 10 million people visit the British Library website - www.bl.uk - every year where they can view up to 4 million digitised collection items and over 40 million pages. 

Henley Business School

Henley Business School is one of the oldest business schools in the UK, having been established in 1945. Henley is in the 1% of all business schools worldwide to hold triple-accredited status from the leading UK, European and US accrediting bodies – AMBA, EQUIS and AACSB. It is known for empowering individuals to become great professionals and outstanding business leaders who think with clarity and act with confidence and conviction. Its distinctive approach is proven to deliver results for individuals and businesses alike.