A FRUGAL PRINCIPLE is an asset of Future Economy
Being Frugal to Lead the Business
Frugal, A word that buzz in minds of creators, innovators, leaders and writers. The principle of Frugal works on “Do More and Better with Less”, in order to interpret correctly the Frugal Innovation is stated as growth strategy that enables companies to develop high-quality products and create more business and social value assets while minimizing the use of vital resources such as energy, capital and time. Therefore it lead to implies minimizing resources and maximizing the value helps in acting more socially and environmentally responsible manner. Value includes customer satisfaction, environmental benefits, share and custom behave approach.
A Economy of Frugal to be state as a Frugal Economy, the pillars of Frugal economy relies on sharing valuable resource and marketing strategy with prosumers. It develops the frugality, that leads to game changer in business strategy. In response to global market there is a need re-building entire business model, strategy and culture around frugality, in order to do more – and better – with less. Therefore Making Business Model – A Circular Economy, that is re-usability being achieve by waste to product again.
“Frugal Implications lead to Affordability, Quality, Simplicity and Sustainability”
6 Major Principles of Frugal Innovations
- Principle one: engage and iterate – stating to customize the product through engaging customer in business policy framework
- Principle two: flex your assets – its aims to not only saving resources for product but saving Time based studies to be implemented
- Principle three: create sustainable solutions – sustainable practices implies cradle-to-cradle in design and manufacturing
- Principle four: shape customer behavior – understanding customer psychology and aspirations of customer
- Principle five: co-create value with prosumers – creating value with customer interlinking in processes and methodology
- Principle six: make innovative friends