Cost Innovation: Preparing for a ‘Value-for-Money’ Revolution

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What is frugal innovation? Three defining criteria (2016, background): “Cost innovation also seeks significant cost reduction (Williamson 2010), and other innovation types also seek core functionality and simplicity (Flatters and Willmott 2009).”
From Cost to Frugal and Reverse Innovation: Mapping the Field and Implications for Global Competitiveness (2014, methodology): “These fi rms have achieved huge cost reductions through process innovations largely grounded in cost advantages enabled by low labor costs, local sourcing, standardized components, and cost-effective raw material sourcing, as well as scale and effi ciency ( Williamson 2010 ).”
Business models as models (2010, background): “Morgan and M. Morrison, Models as Mediators, Cambridge, UK: Cambridge Press (1999). 16 Like economics, biology also has mathematical models, but we suggest that for management scholars it is the model organisms that represent the useful analogy in this context.”