Frugal Innovation in Business: A Literature Review
Author Information
Author(s): Escudero-Cipriani Carlos, García-del Junco Julio, Chafloque-Céspedes Raquel, Alvarez-Risco Aldo
Hypothesis
This research aims to explore the growing field of frugal innovation within the business environment, particularly its intersection with sustainability and artificial intelligence.
Conclusion
Frugal innovation plays a significant role in addressing global challenges by promoting sustainability and social inclusion through cleaner technologies and responsible business practices.
Supporting Evidence
- Frugal innovation helps reduce environmental impact and promotes social inclusion.
- The study identifies knowledge gaps and proposes future strategies for leveraging frugal innovation.
- AI enhances the scalability and efficiency of frugal solutions.
- Frugal innovation is crucial for achieving the United Nations' Sustainable Development Goals.
Takeaway
Frugal innovation is about finding smart and affordable ways to solve problems, especially when resources are limited, helping businesses be more sustainable and inclusive.
Methodology
The study uses a comprehensive literature review and bibliometric analysis of 420 scholarly articles published between 2012 and August 2024.
Limitations
The study primarily focuses on literature published in indexed journals, which may not capture all relevant research on frugal innovation.
Digital Object Identifier (DOI)
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