Executive Briefings | March 19, 2014
Will Your Market Be Disrupted By ‘Frugal Innovation’?
Frugal innovation. That term was news to me until I read a piece on hospital competition, Are the Days of Building Affluent Hospitals Dead?, in Forbes earlier this week.
“Frugal innovation” is a derivative term of the concept of “frugal engineering.” Carlos Ghoshn, who heads Renault-Nissan, is credited with coining the term frugal engineering (for more, see Frugal engineering: An emerging innovation paradigm, in the . . .