Frugal Innovation in Business Idea

BUSINESS MANAGEMENT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
1. Use of frugal innovation in business idea................................................................................1
2. Motivation theory utilization...................................................................................................1
3. Fielder's model for matching leadership style and situational favourableness........................2
4. Use of management controlling functions...............................................................................2
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Business management can be said as that section of the business which devotes the
organization in organization, planning and analysation of the operations of the business.
MAIN BODY
1. Use of frugal innovation in business idea
Frugal innovation also known as the “Juggad innovation” is a process which helps in
reduction of the cost and complex operations in it productivity. Generally this process consists of
removal of non-essential features from the process of production (Ratten, 2019). This method is
a way of working efficiently. In this case study the Stacy has utilized this process as a business
idea. Stacy has been an innovative person. She has been known to utilize different natural
ingredients for replacing the cosmetic products such as shampoo soap and other face cream. It
has been understood and discovered in many studies that the cosmetic products which are made
by chemicals have a very distinct effect to the skin of the users. This influenced Stacy to start
research on how to replace such cosmetics with the help of other organic products which do not
have any side effects on the skin of the users. Thus, Stacy utilized this research and her
experiences with using the products for establishing it into a business idea. One example of such
ingredient made by Stacy was use of fruit pulp with honey for face mask. It should great results
and was an effective product and great replacement of chemical cosmetics (Sarkar, 2021).
2. Motivation theory utilization
Motivation theory can be said as the study that helps in influencing the employees for
working towards the goals of the organization (Bawa, 2017).This theory has shown its
application many types of society. For all kinds of business and management it is very important
motivate the employees in order to increase the productivity of the employees which eventually
will become profitable for the business. In this case study Stacy has used this theory of
motivation for influencing the employees for increasing coordination in them. Stacy was the
CEO of the company which she had established with the innovative idea of organic cosmetics.
Stacy was never pressurizing her employees or force them tasks which they would be unable to
do. This increase the trust of the employees in their CEO. The reason for her success in
motivation of the employees was that she was very positive towards them. She gave the enough
freedom to come up with new ideas and strategies for improving the operations. Thus, she was
not imposing any power of her position on the organization. This proved to be a very effective
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