Businesses and enterprises can no longer avoid the concern of their Natural Environmental impact, which calls into question their economic activities. Frugal Innovation and Innovative Creation is at the crossroads of economics and management in business, particularly focused on innovative enterprises and their interactions with the Natural Environment. Navigating these interactions can be perceived by companies as a costly constraint, especially in an innovation process, which is already very expensive. The aim of this book is therefore to highlight the need for a satisfactory technology level while innovating, without risking damage to the Natural Environment. The challenge here is to propose a form of frugal innovation that is likely to be successful, while also mindful of the environmental considerations from the outset, hence the concept of environmental frugal innovation. Furthermore, by questioning the practice of innovative creation (especially if it integrates the ideas of respect for and preservation of the Natural Environment), this book reveals the importance of two key elements that are present regardless of the modality (the level of technology and organization): improvisation and bricolage.

Businesses and enterprises can no longer avoid the concern of their Natural Environmental impact, which calls into question their economic activities. Frugal Innovation and Innovative Creation is at the crossroads of economics and management in business, particularly focused on innovative enterprises and their interactions with the Natural Environment. Navigating these interactions can be perceived by companies as a costly constraint, especially in an innovation process, which is already very expensive. The aim of this book is therefore to highlight the need for a satisfactory technology level while innovating, without risking damage to the Natural Environment. The challenge here is to propose a form of frugal innovation that is likely to be successful, while also mindful of the environmental considerations from the outset, hence the concept of environmental frugal innovation. Furthermore, by questioning the practice of innovative creation (especially if it integrates the ideas of respect for and preservation of the Natural Environment), this book reveals the importance of two key elements that are present regardless of the modality (the level of technology and organization): improvisation and bricolage.

Frugal innovation is a way that companies can create high-quality products with limited resources. Once the preserve of firms in poor markets, Western companies are now seeking ways to appeal to cost-conscious and environmentally-aware consumers at home. With an estimated trillion-dollar global market for frugal products, and with potentially huge cost savings to be gained, frugal innovation is revolutionizing business and reshaping management thinking. This book explains the principles, perspectives and techniques behind frugal innovation, enabling managers to profit from the great changes ahead. The book explains: How to achieve mass customization, using low-cost robotics, inexpensive product design and virtual prototyping software. How consumers and other external partners can help develop products How to implement sustainable practices, such as the production of waste-free products How to change the corporate culture to become more frugal

In light of growing discourse on 'frugal innovation', this book offers novel approaches to innovation based on extensive empirical research. The study complements a decade of scholarly attention on frugal innovation by taking a research-based approach to innovation in resource-scarce and complex institutional contexts. The findings suggest that concepts such as frugal, reverse, jugaad, social, grassroots and inclusive innovation in fact represent heterogeneous assemblies of innovation for social, environmental and economic value. The conceptual framework invites attention to more plural sources and elements in the study of models of innovation to inspire further research in the fields of strategy, innovation, entrepreneurship, economic sociology and development studies. The design framework offers models, metrics and competencies for practitioners and policymakers to identify, evaluate and design frugal innovations. The comprehensive view of frugal innovation demonstrates how firms can implement globally competitive strategies by pursuing innovation for humanity to improve lives for everyone, everywhere.

Customers are increasingly seeking "low-cost, high-quality" or what is known as frugal products that meet the buyer’s needs while reducing the associated cost of ownership. This book examines the developing principles and theories of frugal innovations across the globe. The authors identify frugal innovation (FI) using a multi-method approach to data analysis. They argue that the concept of frugality as a societal/ethical value has undergone several changes and propose a differentiated model of frugal innovations. They address frugal innovations that have never been accessible to the public. Hands-on case studies across various industry sectors and countries, supported by theory, provide multiple learning opportunities. The authors explore the relationship between FI and digitalisation and technology, and discuss how FI can be applied in the context of contemporary issues such as food security. Further, they articulate the mechanisms by which FI beliefs and values can be incorporated into organisational culture. The final chapters address both ethical and controversial views of frugal innovation. The book is a valuable resource for students in business courses, for industry professionals wanting to improve their triple bottom line, and for educators wanting to influence and change the mindsets of the younger generations to effectively deal with today’s and tomorrow’s challenges.

This book discusses the growing use and importance of frugal innovation in society. Frugal innovation looks at innovating in a cost-efficient manner by taking into account available resources. This book explains how frugal innovation is different to other types of innovation and how frugal innovation offers a creative solution to issues of sustainability and the circular economy. The book approaches innovation by taking into account the stakeholders and how companies can innovate efficiently in an inclusive manner. It presents successful cases of companies that have innovated frugally, making the book an engaging read for anyone who is interested to learn more.

This book discusses several product development strategies and tools employed by organizations around the world to implement frugal innovations. Over the past decade, frugal innovations have caught the attention of countless management scholars. This book comes at the right time for academics and practitioners alike, as it explores how the concept of frugal innovation has evolved over the past several years and is shifting its focus from merely featuring ‘cost’ driven innovations to being more ‘resourceful’ and ‘sustainable’ at its core. Furthermore, in light of the ongoing digital revolution and emergence of new business models such as sharing economy and circular economy, the book highlights recent and upcoming trends and their impacts on frugal innovation strategies.