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Frugal Innovation in Smaller Firms in the West: "How do smaller firms in theWest use Frugal Innovationwhich in its nature best suitedfor emerging markets, havingno subsidiaries in the localmarkets essential to developfrugal solutions for those emerging markets?"
Halmstad University, School of Business, Engineering and Science. (Frugal Innovation)
Halmstad University, School of Business, Engineering and Science.
2015 (English)Independent thesis Advanced level (degree of Master (One Year)), 40 credits / 60 HE creditsStudent thesis
Abstract [en]

Although researchers during the last 5 years have been doing a lot of study onemerging market innovations, and of which Frugal Innovation had its special place. They haveparticularly concentrated on this innovation type on how it re-emerged in the emergingcountries especially India and China and gave it new theoretical definition and a framework.Although this frugal innovation usage is constrained only to the firms located in those emergingmarkets and this innovation has not seen much application in the western smaller firms. In thisresearch our main idea is to develop a theoretical model on frugal innovation for the westernsmaller firms, where currently not much emphasis is given by the previous researchers in thiscontext. To achieve this we have been involved in an action research with a company lookingto enter an emerging market by using frugal innovation strategy for their product development.The output of this research is a theoretical framework model which is sequential and includesall the stages that a firm has to follow as part of a frugal innovation strategy having not muchknowledge of the emerging markets or its customers and who had to rely on external partnersin developing countries to successfully develop frugal innovations. We have also identifiedchallenges firms face in this context and listed out alternatives at each level of the strategy,finally concluded by listing out the future scope of research on frugal innovation in thisparticular area.

Place, publisher, year, edition, pages
2015. , 106 p.
Series
Halmstad University Dissertations, 1
Keyword [en]
Frugal Innovation, Small firms, Innovation strategy, Western markets, emerging markets, Affordability, emerging market innovation, frugal strategy
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hh:diva-30787OAI: oai:DiVA.org:hh-30787DiVA: diva2:921978
Subject / course
Business Management
Presentation
2015-10-29, O316a, Conference room, Halmstad University, Halmstad, 15:45 (English)
Supervisors
Examiners
Available from: 2016-04-22 Created: 2016-04-21 Last updated: 2016-04-22Bibliographically approved

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Citation style
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