scholarly journals How frugal innovation and inclusive business are linked to tackle low-income markets

2021 ◽  
pp. 1-34
Author(s):  
Anne Lange ◽  
Stefan Hüsig ◽  
Martin Albert
Keyword(s):  
Low Income ◽  
Frugal Innovation ◽  
Inclusive Business

scholarly journals THE NATURE OF INNOVATION ECO-SYSTEM OF THE WESTERN KAZAKH STATE UNIVERSITY

2020 ◽  
Vol 9 (4) ◽  
pp. 254
Author(s):  
Liliya Mergaliyeva
Keyword(s):  
Higher Education ◽  
Low Income ◽  
Low Income Countries ◽  
State University ◽  
Education Development ◽  
Frugal Innovation ◽  
Innovation Culture ◽  
New Business ◽  
The University

It was a strong belief that higher education institutions are notoriously resistant to change. However, during the COVID-19 pandemic, universities have quickly and effectively moved millions of students and educators online despite huge logistical and technological challenges. There are very few industries that have reacted in this way. In future leading universities will look for a new business model and apply disruptive innovations into the leaning process.Today is a right time for planning a long term innovation strategy. In recent years Kazakh higher education development has been accompanied by intensive economic growth and raising demand for high qualifies employers. The aim of this research is to reveal the ways of implementing high innovation and creativity approach in universities under example of Western Kazakhstan State University. This study examines the factors determining conditions for development of innovation culture across the university and industry. The methodology is based on expert interviews, reflective experiences; surveying research for innovation, incorporating the information on innovation landscape map, university infrastructure, human resources, PESTEL analysis as well as industry overview. The results show that WKSU needs frugal innovation, as it provides a new entrepreneurial landscape for companies in low-income countries with limited resources to develop innovations.

Relying on frugality as a cornerstone of scalability

2020 ◽  
Vol 36 (9) ◽  
pp. 17-18
Keyword(s):  
Low Income ◽  
Design Methodology ◽  
Review Paper ◽  
Innovation Strategy ◽  
Frugal Innovation ◽  
Content Type ◽  
Developed Markets ◽  
Pertinent Information ◽  
Low Income Consumers ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings The review is based on “In search of the frugal innovation strategy” by Santos et al. (2020), published in “Review of International Business and Strategy.” This literature review paper concentrates on explaining that pursuing frugal innovation involves developing products and services, in a tightly resource-constrained environment, that are both affordable and sufficiently high quality to cater for low income consumers. Pursuing such a frugal innovation strategy is originated in emerging markets but can also translate across to developed markets and their value-seeking consumers. The study's results reveal that frugal innovation is most effective for executing innovation in products and processes. Original/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals The search for the holy grail: frugal innovation in healthcare from low-income or middle-income countries for reverse innovation to developed countries

2017 ◽  
Vol 3 (4) ◽  
pp. 212-220 ◽  
Author(s):  
Yasser A Bhatti ◽  
Matthew Prime ◽  
Matthew Harris ◽  
Hester Wadge ◽  
Julie McQueen ◽  
...  
Keyword(s):  
Low Income ◽  
Developed Countries ◽  
Reverse Innovation ◽  
Holy Grail ◽  
Middle Income ◽  
Frugal Innovation ◽  
Middle Income Countries

scholarly journals Defining frugal innovation: a critical review

2021 ◽  
Vol 7 (4) ◽  
pp. 647-656
Author(s):  
Chandni N Hindocha ◽  
Grazia Antonacci ◽  
James Barlow ◽  
Matthew Harris
Keyword(s):  
Low Income ◽  
Critical Review ◽  
Theoretical Foundation ◽  
Resource Scarcity ◽  
Theoretical Underpinning ◽  
Frugal Innovation ◽  
Support Strategies ◽  
Low Income Consumers ◽  
Common Understanding ◽  
And Diffusion

Frugal innovation (FI), which has gained traction in various sectors, is loosely defined as developing quality solutions in a resource-constrained environment that are affordable to low-income consumers. However, with its popularity, multiple and diverse definitions have emerged that often lack a theoretical foundation. This has led to a convoluted conceptualisation that hinders research and adoption in practice. Despite this plethora of perspectives and definitions, scholars do agree that there is a need for a unified definition. This critical review across the management, entrepreneurship, business and organisation studies literatures explores the multiple definitions of FI that have appeared in the last two decades and seeks to examine the commonalities and differences. One definition is supported by a theoretical underpinning, and main themes include affordability, adaptability, resource scarcity, accessibility and sustainability, however, there remains significant ambiguity around what constitutes an FI. Defining FI as a concept should not deter from focusing on its core aim and identifying an FI may be best achieved by comparing it to an incumbent alternative, rather than against an ill-defined concept. There is merit in developing a common understanding of FI to support strategies for its successful acceptance and diffusion globally.

scholarly journals Promoting Business Inclusivity for Sustainable Livelihoods among the Zimbabwean Poor

2018 ◽  
Vol 10 (1) ◽  
pp. 224
Author(s):  
Leonard Mbira ◽  
Mbongiseni Ncube
Keyword(s):  
Low Income ◽  
Value Chain ◽  
Business Models ◽  
Survey Design ◽  
Regulatory System ◽  
Business Environment ◽  
Bottom Line ◽  
Entrepreneurial Culture ◽  
Inclusive Business ◽  
Developed Nations

The Zimbabwean economy has nose-dived since the long decade era of hyperinflation resulting in serious economic depression, extreme poverty and unemployment. Regrettably, lack of an entrepreneurial culture has become a huge obstacle to the resuscitation of the economy. Developing inclusive business models incorporating livelihood opportunities for social bottom line has long been suggested as the solution for economically distressed less developed nations facing high levels of unemployment. This study sought to explore factors that disincentivise Zimbabweans from seeking and initiating value creating business opportunities that are low income inclusive and further presents strategies to infuse an entrepreneurial investment culture. It adopts the survey design approach in collection of data. The study identifies lack of skills and knowledge, lack of access to financial markets, unfavorable business environment and regulatory system, perceived high risk and poor infrastructure as the main impediments to the integration of the poor communities in to the value chain.

scholarly journals Promoting Business Inclusivity for Sustainable Livelihoods among the Zimbabwean Poor

2018 ◽  
Vol 10 (1(J)) ◽  
pp. 224-233
Author(s):  
Leonard Mbira ◽  
Mbongiseni Ncube
Keyword(s):  
Low Income ◽  
Value Chain ◽  
Business Models ◽  
Survey Design ◽  
Regulatory System ◽  
Business Environment ◽  
Bottom Line ◽  
Entrepreneurial Culture ◽  
Inclusive Business ◽  
Developed Nations

The Zimbabwean economy has nose-dived since the long decade era of hyperinflation resulting in serious economic depression, extreme poverty and unemployment. Regrettably, lack of an entrepreneurial culture has become a huge obstacle to the resuscitation of the economy. Developing inclusive business models incorporating livelihood opportunities for social bottom line has long been suggested as the solution for economically distressed less developed nations facing high levels of unemployment. This study sought to explore factors that disincentivise Zimbabweans from seeking and initiating value creating business opportunities that are low income inclusive and further presents strategies to infuse an entrepreneurial investment culture. It adopts the survey design approach in collection of data. The study identifies lack of skills and knowledge, lack of access to financial markets, unfavorable business environment and regulatory system, perceived high risk and poor infrastructure as the main impediments to the integration of the poor communities in to the value chain.

Determinants of consumers’ frugal innovation acceptance in a developed country

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Leonor Costa ◽  
Aurora Teixeira ◽  
Ana Brochado
Keyword(s):  
University Students ◽  
Low Income ◽  
Structural Equation ◽  
Fine Arts ◽  
Equation Modeling ◽  
Developed Country ◽  
Frugal Innovation ◽  
Content Type ◽  
Market Opportunities ◽  
Frugal Innovations

Purpose This study aims to understand why young people are interested in buying frugal innovations. Design/methodology/approach Data were collected with a survey administered to 534 university students enrolled in various fields of study (e.g. sciences, technology, economics and fine arts). Using the Tata Nano car as an example of frugal innovation, a model based on the unified theory of acceptance and use of technology was developed using partial least squares structural equation modeling. Findings The model’s results reveal that effort expectancy, performance expectancy and facilitating conditions are critical factors that explain university students’ intention to buy Tata Nano. Originality/value Although frugal innovations are often introduced first in developing countries, frugal innovations could be highly relevant to users in developed nations as these innovations can provide market opportunities in terms of cost-conscious, relatively low-income and sustainability-conscious consumers.

MNCs in India: focus on frugal innovation

2014 ◽  
Vol 6 (1) ◽  
pp. 4-28 ◽  
Author(s):  
Abhoy K. Ojha
Keyword(s):  
Low Income ◽  
Low Cost ◽  
High Technology ◽  
Case Study Methodology ◽  
Frugal Innovation ◽  
Content Type ◽  
Large Sample ◽  
Global Innovation ◽  
Product Lifetime ◽  
Market Opportunities

Purpose – Frugal innovation is a term that has been used to describe the low-cost products and services, as well as the systems and processes adopted by organizations to develop them. The purpose of this paper is to examine the experience of multi-national companies (MNCs) in India as they adopt the philosophy of frugal innovation to develop products that are high in technology but low in terms of cost to meet the requirements of the market conditions in India, and similar low-income economies. Design/methodology/approach – The case study methodology was adopted to understand the experiences of the Indian subsidiaries of two MNCs, Bosch India and 3M India. Data were acquired through interviews with key decision makers, documents, and publicly available information. Findings – The two MNCs have increased research and development (R&D) in India and adopted the philosophy of frugal innovation which combines high technology with low costs. Based on the analysis, some propositions are presented indicating that MNCs will shift R&D to India if there are market opportunities; they will adopt the philosophy of frugal innovation to produce high technology products that are lost cost and low cost over product lifetime and will also expand to new-to-the-world innovation and finally contribute to global innovation. Research limitations/implications – The study is based on only two case studies and a large sample study may be required before the findings can be generalized. Practical implications – Other MNCs can learn from Bosch India and 3M India in terms of adopting frugal innovation practices to be successful in low-income economies. Originality/value – The field of frugal innovation is quite new and largely based on anecdotal accounts of successful low-cost innovation. This paper provides a more detailed account of the experiences of two well-known organizations to present propositions that may be used to conduct a large sample study.

scholarly journals Poverty, Business Strategy, and Sustainable Development

2016 ◽  
Vol 29 (4) ◽  
pp. 401-415 ◽  
Author(s):  
Stuart Hart ◽  
Sanjay Sharma ◽  
Minna Halme
Keyword(s):  
Sustainable Development ◽  
Low Income ◽  
Business Strategy ◽  
Poverty Alleviation ◽  
Well Being ◽  
Investment Funds ◽  
Impact Investing ◽  
Bottom Of Pyramid ◽  
New Business ◽  
Inclusive Business

The past 15 years have witnessed an exponential growth in business activities aimed at serving the needs and increasing the well-being of disenfranchised individuals in low-income communities. Thousands of new business initiatives, development institution programs, and innovative investment funds focused on poverty alleviation have emerged during this time. Similarly, since the late 1990s when Prahalad and Hart first coined the term Bottom of Pyramid (BoP), and suggested a new, enterprise-based approach to poverty alleviation, there has also been a steady rise in research on business and poverty. A whole new lexicon emerged to describe this phenomenon, including phrases like “inclusive business,” “subsistence market places,” “frugal innovation,” and “impact investing.” Unfortunately, management theory and research have not advanced at the same pace with the BoP business revolution, and consequently knowledge about parameters for successfully integrating business, poverty alleviation and sustainable development still remains ambiguous.

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