Frugal Innovation and Different Dynamics

Abstract

Producing something from low or nothing through entrepreneurial bricolage is an increasing phenomenon in emerging and dynamic markets. Recently, there is a dire need in developing affordable products and services targeting new markets. Entrepreneurs in the limited resources environments often develop such products. As suggested by Baker and Nelson, firms engage in bricolage to overcome the limitations imposed by the limited resources situation. With respect to the current situation, resource limitations and sustainability issues are pushing firms to develop affordable, quality products and services.