innovation

Another example of a frugal innovation is the local exchange trading system, originated by Michael Linton in 1982. The system he designed was intended as an adjunct to the national currency, rather than a replacement for it A local exchange trading system is a locally organised economic organisation that allows members to participate in the exchange of goods and services among others in the…

What are innovations? Innovation stands for renewal à so the development and implementation of new and improved techniques, products and production processes for example. This does not mean that innovation always is something entirely new. Innovation is also the implementation of certain existing things in industries, disciplines and areas where this has not been applied. What is frugal…