Alumni from Judge Business School at Cambridge University scoop the top award at annual CMI Management Book of the Year Award.

Frugal Innovation, by Navi Radjou and Jaideep Prabhu was awarded the £5,000 top prize by CMI last night in a hotly contested competition in a year that saw a record 170 entries.

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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 their book, 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.

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.”