HindiJugaadA frugal yet creative and highly effective solution to a problem which everyone is solving with the usual scripted and expensive way.

Jugaad is a Hindi word which captures the meaning of finding a low-cost solution to any problem in an intelligent way is a new way to think constructively and differently about innovation and strategy. Jugaad innovation has a long-lasting tradition in India but is also widespread in the rest of the so-called Bric countries (Brazil, Russia, India and China) and numerous other emerging economies. Jugaad is about extending our developed world understanding of entrepreneurial spirit in the traditional Schumpeterian style (Joseph Schumpeter was the Austrian economist known as the [prophet of innovation](http://www.princeton.edu/~tleonard/papers/McCraw.pdf)). 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 an adaptive way. Intelligence in this context "isn’t about seeking sophistication or perfection by over-engineering products, but rather about developing a ‘good-enough’ solution that gets the job done". There are no rules but choices that present themselves in that context which require a frugal and innovative but highly effective solution. EDIT >> thanks to [Lazy_Scheherazade](https://www.reddit.com/user/Lazy_Scheherazade) for explaining the correct shade of this word, yes it can be a process not just a kludge or hack.