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Frugal Innovation and the New Product Development Process

Frugal Innovation and the New Product Development Process
Author: Stephanie B.M. Cadeddu
Publisher: Routledge
Total Pages: 222
Release: 2019-01-17
Genre: Business & Economics
ISBN: 0429671180

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This book explores the new product development process of firms developing frugal innovation for the base-of-the-pyramid (BOP) markets in developing countries. Frugal innovations are products characterised by an affordable price-point, durability, usability and core functionalities that are highly adapted to BOP consumers’ needs. Frugal products have the potential to drive the development progress and living standards of low-income consumers. With an innovation framework developed from worldwide frugal case studies, this book provides detailed insights through two in-depth start-up firms in Indonesia that have successfully launched frugal products for the low-income market. These two start-ups have addressed two major development challenges for not just Indonesia, but also the global BOP market – traditional methods of cooking and access to clean drinking water. A detailed roadmap is developed from insights into the processes and management decisions of these two start-ups and combined with previous studies on frugal products. Providing a detailed roadmap across the different phases and stages of the new product development process when developing frugal products, this book will be insightful to not only innovators but also investors and government agencies supporting their activities.


Frugal Innovation

Frugal Innovation
Author: Yasser Bhatti
Publisher: Cambridge University Press
Total Pages: 341
Release: 2018-11-15
Genre: Business & Economics
ISBN: 1107188970

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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.


Frugal Innovation and Its Implementation

Frugal Innovation and Its Implementation
Author: Nivedita Agarwal
Publisher: Springer Nature
Total Pages: 305
Release: 2021-05-11
Genre: Business & Economics
ISBN: 3030671194

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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.


Frugal Innovation

Frugal Innovation
Author: Adela J. McMurray
Publisher: Routledge
Total Pages: 340
Release: 2019-11-28
Genre: Business & Economics
ISBN: 0429655274

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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.


The Economics of Frugal Innovation

The Economics of Frugal Innovation
Author: Christian Le Bas
Publisher: Edward Elgar Publishing
Total Pages: 186
Release: 2023-02-14
Genre: Social Science
ISBN: 1035302330

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In light of the tremendous growth of frugal product and process innovations in emerging markets and Northern economies, this book offers a clear understanding of this new direction of technological change with a Schumpeterian analytical frame. Characterising frugal innovation as a new technological paradigm, it illuminates the relationship between frugality and sustainability.


Accelerating Innovation

Accelerating Innovation
Author: Marvin L. Patterson
Publisher: Van Nostrand Reinhold Company
Total Pages: 184
Release: 1993
Genre: Business & Economics
ISBN:

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"The time for rehashing America's lost battles on the world market has passed." "Now it's time to address a critical component of the economic battle plan: the product development process that creates the products that satisfy customer needs. How quickly these weapons of economic war are developed, how competitive they are, how timely they are deployed, and how supportable they are will determine the failure or success of American business in the 1990s." "Here is the right book at the right time...a concise blueprint to transform product development from a collection of ad hoc activities into an integrated, smoothly operating process. Written by the Director of Corporate Engineering for Hewlett-Packard, one of the most successfully innovative companies in America today, Accelerating Innovation shows how successful, well-tested concepts from the manufacturing domain can be readily transformed into the needy world of new product innovation." "Filled with clear-sighted analysis and practical explanations, this book will help management unleash innovation and creativity in development processes to meet the urgent need for bringing new technology to customers faster and more effectively than the competition." "Discover how to cope with the limited life span of today's products...anticipate changing consumer needs and desires...close the gap between new technology and products that apply it...bring leading-edge products to market fast...eliminate profit-threatening gaps between the "death" of obsolete products and the introduction of new ones...and enjoy higher returns on investment." "Accelerating Innovation provides a results-oriented model for transferring to product development the strategies that are moving manufacturers from the old era to the new one. Numerous real-life examples give you powerful insights into the time-based factoring and total quality management principles used so successfully in manufacturing and shows how to implement them in the product development cycle. Key chapters address how to shorten the innovation cycle time, applying the principle that success springs from focusing on the right issues; manage organization change so that change goes where you want it to go - and quickly, transfer quality principles used on the assembly line to the process of developing raw information and adding value to it, reduce innovation time by implementing the cost of quality principle (cost as a function of when an error is detected), manage information flow and bottlenecks, minimize changeover time; and much, much more." "Does your organization really have a handle on new product development? Are goals, objectives, processes, metrics, and controls in place? Are you equipped to create new products rationally and systematically, while continuously reducing innovation cycle times?" "Accelerating Innovation presents new thinking that will help you answer these questions with a resounding "yes." In product development, doing business the same old way is a formula for disaster. The time to act is long before the livelihood of the product development function is ever threatened. And if a company is trying to catch up, then it has to improve faster than its toughest competition if it ever expects to win." "Finally, here is a guide that can give you the critical advantage you need for success in product development - success that is no longer a luxury, but a necessity for survival."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved


Handbook of Research on New Product Development

Handbook of Research on New Product Development
Author: Peter N. Golder
Publisher: Edward Elgar Publishing
Total Pages: 469
Release: 2018
Genre: Business & Economics
ISBN: 1784718157

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New products are the major driver of revenue growth in today's dynamic business environment. In this Handbook, the world's foremost experts on new product development bring together the latest thinking on this vitally important topic. These thought-leading authors organize knowledge into useful and insightful frameworks covering all aspects of new product development: companies, collaborators, customers, context, markets, and performance. Managers will benefit from the handbook by expanding their knowledge of new product development and researchers will learn about opportunities to continue expanding on this body of knowledge.


Innovating in Product/Process Development

Innovating in Product/Process Development
Author: Mikel Sorli
Publisher: Springer Science & Business Media
Total Pages: 289
Release: 2009-07-01
Genre: Technology & Engineering
ISBN: 1848825455

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Innovating in Product/Process Development demonstrates how to achieve true innovation in product development, and how to launch a new product in the quickest and cheapest way. The new approach to product development proposed in this book is based on the most recent research in the field. It suggests the integration of several tools that are currently only used independently, with the aim of stimulating the creation of innovative ideas in general, and specifically in the areas of product/process improvements and problem solving. Innovating in Product/Process Development explores different aspects of innovation processes in twenty-first century industry from a global economic perspective. It presents in detail several approaches to support these processes, from ICT-based systems to collaborative working environments, all of which will be of interest to MBA or advanced students; researchers; and design teams charged with the creation of new product lines.


Research and Development Management

Research and Development Management
Author: Tugrul Daim
Publisher: Springer
Total Pages: 294
Release: 2017-05-23
Genre: Business & Economics
ISBN: 331954537X

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This book introduces readers to essential technology assessment and forecasting tools, demonstrating their use on the basis of multiple cases. As organizations in the high-tech industry need to be able to assess emerging technologies, the book presents cases in which formal decision-making models are developed, providing a framework for decision-making in the context of technology acquisition and development. Applications of different technology forecasting tools are also discussed for a range of technologies and sectors, providing a guide to keep R&D organizations abreast of technological trends that affect their business. As such, the book offers a valuable the theoretical and practical reference guide for R&D managers responsible for emerging and future technologies.