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R&D Management Conference: 3 - 6 July 2016

From Science to Society: Innovation and Value Creation

Studying at Cambridge

Management of R&D for creating Frugal Innovations

 

Rajnish Tiwari
Prof. Dr. Cornelius Herstatt
Hamburg University of Technology,
Institute for Technology and Innovation Management
Rajnish Tiwari
Hamburg University of Technology 

Management of R&D for creating Frugal Innovations

Frugal innovations, broadly targeted at the unserved customers, are gaining relevance in the scholarly discourse and the actual business practice. However, they are often associated only with business model innovations in emerging economies. There is still little clarity about the role of R&D and its management in creating solutions that appeal to the price-sensitive-yet-demanding customers including those in the developed world. In this session we seek to address the role of R&D management and associated processes at organizational and policy levels in creating for-profit solutions that can be also seen as frugal and responsible (affordable excellence) for the society-at-large.