Details
| Original language | English |
|---|---|
| Pages (from-to) | S69-S88 |
| Journal | Journal of Entrepreneurship |
| Volume | 32 |
| Issue number | 2_suppl |
| Early online date | 7 Oct 2023 |
| Publication status | Published - Nov 2023 |
Abstract
The advent of advanced frugal products has paved the way for gearing engineering and its constituents for frugality from here onwards. Therefore, frugal engineering (FE) is accomplished by setting constraints on both material consumption and cost at all stages of product development. This article expounds on the entrepreneurship that will be unleashed by relevant entities, companies and countries embracing FE. The features of advanced frugal products that positively influence quality, resources and cost will have serious ramifications for entrepreneurs of all stripes. This article describes the challenges faced by entrepreneurs of small and midsize businesses (SMBs) in going frugal and some possible solutions. Large enterprises (LEs) have also been studied for the impact of their ample resources on the effective creation of advanced frugal innovations (AFIs). Although LEs can utilise the ample resources at their disposal for effective implementation of FE of advanced frugal products, SMBs can use the natural scarcity to their advantage. Overall, this article establishes the need for entrepreneurs to become knowledgeable about science, technology and other knowledge areas. Such awareness in this age of climate change will greatly help entrepreneurs in maximum leveraging of science for the creation and diffusion of advanced frugal products. Large-scale entrepreneurial activity with AFIs will greatly aid in finding sustainable solutions to the various challenges thrown by climate change and other crises.
Keywords
- Advanced frugal innovation, factor of frugality, frugal design, frugal engineering, frugal entrepreneur, frugal manufacturing
ASJC Scopus subject areas
- Business, Management and Accounting(all)
- Business and International Management
- Economics, Econometrics and Finance(all)
- Economics and Econometrics
- Business, Management and Accounting(all)
- Strategy and Management
Sustainable Development Goals
Cite this
- Standard
- Harvard
- Apa
- Vancouver
- BibTeX
- RIS
In: Journal of Entrepreneurship, Vol. 32, No. 2_suppl, 11.2023, p. S69-S88.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Frugal Engineering of Advanced Frugal Innovations for Global Sustainability Entrepreneurship
AU - Rao, Balkrishna C.
AU - Liefner, Ingo
PY - 2023/11
Y1 - 2023/11
N2 - The advent of advanced frugal products has paved the way for gearing engineering and its constituents for frugality from here onwards. Therefore, frugal engineering (FE) is accomplished by setting constraints on both material consumption and cost at all stages of product development. This article expounds on the entrepreneurship that will be unleashed by relevant entities, companies and countries embracing FE. The features of advanced frugal products that positively influence quality, resources and cost will have serious ramifications for entrepreneurs of all stripes. This article describes the challenges faced by entrepreneurs of small and midsize businesses (SMBs) in going frugal and some possible solutions. Large enterprises (LEs) have also been studied for the impact of their ample resources on the effective creation of advanced frugal innovations (AFIs). Although LEs can utilise the ample resources at their disposal for effective implementation of FE of advanced frugal products, SMBs can use the natural scarcity to their advantage. Overall, this article establishes the need for entrepreneurs to become knowledgeable about science, technology and other knowledge areas. Such awareness in this age of climate change will greatly help entrepreneurs in maximum leveraging of science for the creation and diffusion of advanced frugal products. Large-scale entrepreneurial activity with AFIs will greatly aid in finding sustainable solutions to the various challenges thrown by climate change and other crises.
AB - The advent of advanced frugal products has paved the way for gearing engineering and its constituents for frugality from here onwards. Therefore, frugal engineering (FE) is accomplished by setting constraints on both material consumption and cost at all stages of product development. This article expounds on the entrepreneurship that will be unleashed by relevant entities, companies and countries embracing FE. The features of advanced frugal products that positively influence quality, resources and cost will have serious ramifications for entrepreneurs of all stripes. This article describes the challenges faced by entrepreneurs of small and midsize businesses (SMBs) in going frugal and some possible solutions. Large enterprises (LEs) have also been studied for the impact of their ample resources on the effective creation of advanced frugal innovations (AFIs). Although LEs can utilise the ample resources at their disposal for effective implementation of FE of advanced frugal products, SMBs can use the natural scarcity to their advantage. Overall, this article establishes the need for entrepreneurs to become knowledgeable about science, technology and other knowledge areas. Such awareness in this age of climate change will greatly help entrepreneurs in maximum leveraging of science for the creation and diffusion of advanced frugal products. Large-scale entrepreneurial activity with AFIs will greatly aid in finding sustainable solutions to the various challenges thrown by climate change and other crises.
KW - Advanced frugal innovation
KW - factor of frugality
KW - frugal design
KW - frugal engineering
KW - frugal entrepreneur
KW - frugal manufacturing
UR - http://www.scopus.com/inward/record.url?scp=85173772122&partnerID=8YFLogxK
U2 - 10.1177/09713557231201130
DO - 10.1177/09713557231201130
M3 - Article
AN - SCOPUS:85173772122
VL - 32
SP - S69-S88
JO - Journal of Entrepreneurship
JF - Journal of Entrepreneurship
SN - 0971-3557
IS - 2_suppl
ER -