Jugaad coming to America?

A recent article in Business Week http://bit.ly/8mBe9M discusses Jugaad (pronounced "joo-gaardh"), "India's improvisational style of innovation promises fast and cheap solutions".

From a western perspective, the initial reaction is to think "quick turn-around that's low on quality", however the true essence of Jugaad is a process used in an economically depressed market like India to deliver products and solutions that cheaply solve an immediate need. With the 77% of Indians living on less than $0.50 a day (see Reuters Article) , companies must focus on delivering cheap solutions that address immediate necessities like transportation as seen by the recent Nano vehicle introduced by Tata Motors.

As we here in the west face an Economic Depression, companies are quickly realizing that the long product innovation cycles of old in a market where consumers are deal shopping for products that meet their daily necessities or replenish basic needs without breaking the bank.
In the technology development world, the trends have followed a parallel path moving away from long-winded processes like the "Waterfall" method to quicker impact processes like "Agile". As the market demands faster and cheaper solutions, businesses must quickly find partners that can react quickly to innovation requirements and deliver under tighter budgets.