|
|
Frugal innovationFrom Researching Virtual Initiatives in EducationIn e-learning circles, frugal innovation is a term recently popularised by the TLT Group to denote an approach to innovation characterised by very careful, insightful and economical use of resources, both human and material, when innovating courses. This is described in more detail in a description of their online workshop to be held in August 2009. Some examples include:
More general meaningsThe term is quite commonly used in countries such as India or China to describe a specific kind of innovation which takes great care to minimise costs of innovation and cost of final product. The top hit currently on Google is an article on Frugal innovation in Business Standard magazine of 31 July 2009, describing General Electric's technology centre in Bangalore. a "low-cost but cutting-edge facility". In this context the approach is often called Frugal engineering - described as "the ability to manufacture low cost versions of goods for mass markets" in the 2009 article Introduction: The internationalization of Chinese and Indian firms—trends, motivations and strategy by Suma Athreye and Sandeep Kapur.
Further readingThere is, unusually, no entry in Wikipedia - except for frugality. However, this does usefully list nine strategies for frugality:
> Glossary |