Frugal Innovation and Its Implementation

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.

Alexander Brem is an Endowed Chaired Professor and Institute Director at the University of Stuttgart, Germany. He is also Honorary Professor at the University of Southern Denmark. His research interest is on technological innovation and entrepreneurship. Nivedita Agarwal is an Assistant Professor at the Chair of Technology Management at the University of Erlangen-Nürnberg (FAU), Germany. Her research focuses on social entrepreneurship, sustainability management and frugal innovations especially in this context of emerging markets. Her research highlights the role of innovation and entrepreneurship enabled by disruptive technologies in shaping the complex innovation ecosystems. She has published articles in several peer reviewed academic journals such as the Strategic Entrepreneurship Journal, Technological Forecasting and Social Change, Journal of Business Research and IEEE Transactions on Engineering Management. She is also the editor of the International Journal of Entrepreneurial Venturing and is on the editorial board of International Journal of Innovation and Technology Management.