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.
About the Author: Adela J. McMurray, PhD, is a professor at RMIT University, Australia. She has extensive international experience researching in public and private sectors, is the recipient of teaching and leadership awards, and has published over 260 publications. Adela's research expertise addresses workplace innovation, cultural diversity, organisational culture and climate.
Gerrit A. de Waal, PhD, is a senior lecturer at RMIT University, Australia and obtained a PhD in innovation management in 2011 at the University of Canterbury, New Zealand. Gerrit is the Director of the Australian Frugal Innovation Network (AFIN) that conducts interdisciplinary research on frugal innovation in conjunction with other Australian universities, and frugal innovation centres in Europe and India.
