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Jugaad Innovation: Think Frugal, Be Flexible, Generate Breakthrough Growth by Simone Ahuja, Jaideep Prabhu, Navi Radjou

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Chapter Six

Principle Five

Include the Margin

We need a system of inclusive capitalism that would have a twin mission: making profits and also improving lives for those who don't fully benefit from market forces.

—Bill Gates, chairman, Microsoft Corporation

In 2004, Dr. Rana Kapoor quit his job with a multinational company to start an inclusive bank: one that would sustainably serve the financial needs of the broadest possible swath of consumers. Dr. Kapoor felt strongly that banks should be servants of a country's economy rather than its arrogant masters. His vision of serving the needs of the Indian economy extended to the six hundred million Indians who had no access to a bank. To turn his vision into reality, he staffed his new venture—a ...

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