Relying on frugality as a cornerstone of scalability

Abstract

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.