Abstract:

Frugal innovation is the ability to "do more with less." By economizing on precious resources such as energy, capital, and time, it creates greater commercial and social value. In "the age of scarcity," Western companies are facing increasing pressure from consumers, employees, and governments. These stakeholders are concerned about their budgets and the environment, and they are demanding affordable, sustainable, and high-quality products. In this regard, frugal innovation is a revolutionary strategy. However, it is not just a strategy: it is a sign of a new mindset that sees resource constraints as opportunities rather than obstacles.