Making the Planet More Habitable: Business Perspectives for Social Economy

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DOI :10.26650/B/SS05.2023.003.09   IUP :10.26650/B/SS05.2023.003.09    Tam Metin (PDF)

Frugal Innovation: A Solution for Desired Balance?

Güney Çetin Gürkan

The income inequality between countries and even regions in the world has been increasing over the years. NGO’s, governmental initiatives, and firms undertake various initiatives to reduce the negative effects of income inequalities and poverty. So, businesses and NGOs in developing and developed countries work hard to meet the needs of low-income segments around the world. Concepts such as new product/process/business models resulting from these initiatives are known as frugal innovation. Frugal innovation is not a simple type of innovation, such as redesign of existing products. This section of the book will cover the bottom of the pyramid (BoP) concept, which is thought to be most important to frugal innovation first, then covers the features of frugal innovation, the concept of frugal innovation in developing countries, and examples of successful frugal innovation.


Anahtar Kelimeler: Frugal Innovation, Innovation, Bottom of the Pyramid, Developing Countries, Income Inequality

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