Publication

Abstract : Frugal innovation is emerging as an innovative approach for solving societal problems through designing and developing cost-effective and easily accessible solutions in limited resource settings. It is the process of creating affordable, high-quality products, services, or processes with an aim to provide sustainable social benefits. Healthcare frugal innovation has gained researcher’s attention as it explores different innovative models and effective solutions to address specific challenges in this sector. A solution is considered novel and beneficial when it is developed in response to challenges and serves a genuine purpose. This paper provides a comprehensive analysis of one of the prominent healthcare social enterprises, Narayana Hrudayalaya, that have made significant strides and profound impact on society. The aim of this research is to gain in-depth understanding of how Narayana Hrudayalaya could strategically plan and create frugal innovations that had a societal impact. The study recommends the relevance of optimization strategies and innovative processes that help social or business enterprises to explore frugal dimensions of affordability, accessibility, availability, and quality. The study also attempts to map the social impact and innovative strategies embraced by this healthcare organization and propose key optimization strategies so that future researchers and organizations could refer it for developing novel business models that foster sustainable and socially oriented innovations.