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The world's most exciting, fastest-growing new market is where you least expect it: at the bottom of the pyramid. Collectively, the world's billions of poor people have immense untapped buying power. They represent an enormous opportunity for companies who learn how to serve them. Not only can it be done, it is being done--very profitably. What's more, companies aren't just making money: by serving these markets, they're helping millions of the world's poorest people escape poverty. C.K. Prahalad's global bestseller "The Fortune at the Bottom of the Pyramid," now available in paperback, " "shows why you can't afford to ignore "Bottom of the Pyramid" (BOP) markets. Now available in paperback, it offers a blueprint for driving the radical innovation you'll need to profit in emerging markets--and using those innovations to become more competitive "everywhere." This new paperback edition includes eleven concise, fast-paced success stories from India, Peru, Mexico, Brazil, and Venezuela--ranging from salt to soap, banking to cellphones, healthcare to housing. These stories are backed by more detailed case studies and 10 hours of digital videos on whartonsp.com. Simply put, this book is about making a revolution: building profitable "bottom of the pyramid" markets, reducing poverty, and creating an inclusive capitalism that works for "everyone." Preface xi About the Author xix Part I: The Fortune at the Bottom of the Pyramid 1 Chapter 1: The Market at the Bottom of the Pyramid 3 Chapter 2: Products and Services for the BOP 23 Chapter 3: BOP: A Global Opportunity? 47 Chapter 4: The Ecosystem for Wealth Creation 63 Chapter 5: Reducing Corruption: Transaction Governance Capacity 77 Chapter 6: Development as Social Transformation 99 Part II: Business Success Stories from the Bottom of the Pyramid 113 Financing the Poor 115 Aravind Eye Care-The Most Precious Gift 131 Energy for Everyone 137 Agricultural Advances for the Poor-The EID Parry Story 149 Retail for the Poor 159 Information Technology to the Poor 169 The Jaipur Foot Story 187 Health Alerts for All 191 Transparent Government 201 The Annapurna Salt Story 213 Homes for the Poor-The CEMEX Story 221 From Hand to Mouth-The HHL Soap Story 235 Part III: On the Web at Whartonsp.com Video Success Stories Casas Bahia CEMEX Annapurna Salt Hindustan Lever Jaipur Foot Aravind Eye Care ICICI Bank ITC e-Choupal EID Parry Voxiva E+Co/Tecnosol Andhra Pradesh Full Success Case Stories in pdf format The Market at the Bottom of the Pyramid Known Problems and Known Solutions: What Is the Missing Link? Known Problems and Unique Solutions Known Problems and Systemwide Reform Scaling Innovations Creating Enabling Conditions for the Development of the Private Sector The EID Parry Story Biographies of the Researchers/Writers of the Success Case Stories from "The Fortune at the Bottom of the Pyramid" 247 About the Video Success Stories 255 Index 257
This book shares proven, “on-the-ground” insights for building “Base of the Pyramid” businesses that really are sustainable and green, will help alleviate social ills, and can scale to significant size and profitability. Its “second-generation” techniques reflect crucial lessons learned by “BoP” pioneers: lessons that dramatically increase the likelihood of success.
As economic growth slows in the developed world, the base of the pyramid (BoP) represents perhaps the last great, untapped market. Of the world's 7 billion inhabitants, around 4 billion live in low-income markets in the developing world. These 4 billion people deserve—and, increasingly, are demanding—better lives. At the same time, the business community seeks new opportunities for growth, and the development community is striving to increase its impact. With these forces converging, the potential for mutual value creation is tremendous. This book provides a roadmap for realizing that potential. Drawing on over 25 years of experience across some eighty countries, Ted London offers concrete guidelines for how to build better enterprises while simultaneously alleviating poverty. He outlines three key components that must be integrated to achieve results: the lived experiences of enterprises to date—both successes and failures; the development of an ecosystem that is conducive to market creation; and the voices of the poor, so that entrants can truly understand what poverty alleviation is about. London provides aspiring market leaders and their stakeholders with the tools and techniques needed to succeed in the unique, opportunity-rich BoP.
Named one of the "Best Books on Innovation, 2008" by BusinessWeek magazine From the greatest minds in business today comes a groundbreaking new blueprint for executing the next stage of customer-created value. C.K. Prahalad, the world's premier business thinker, and IT scholar M.S. Krishnan unveil the critical missing link in connecting strategy to execution--building organizational capabilities that allow companies to achieve and sustain continuous change and innovation. The New Age of Innovation reveals that the key to creating value and the future growth of every business depends on accessing a global network of resources to co-create unique experiences with customers, one at a time. To achieve this, CEOs, executives, and managers at every level must transform their business processes, technical systems, and supply chain management, implementing key social and technological infrastructure requirements to create an ongoing innovation advantage. In this landmark work, Prahalad and Krishnan explain how to accomplish this shift--one where IT and the management architecture form the corporation's fundamental foundation. This book provides strategies for Redesigning systems to co-create value with customers and connect all parts of a firm to this process Measuring individual behavior through smart analytics Ceaselessly improving the flexibility and efficiency in all customer-facing and back-end processes Treating all involved individuals--customers, employees, investors, suppliers--as unique Working across cultures and time-zones in a seamless global network Building teams that are capable of providing high-quality, low-cost solutions rapidly To successfully compete on the battlefields of 21st-century business, companies must reinvent their processes and culture in order to sustain innovative solutions. The New Age of Innovation is a complete program for achieving this transformation to meet the needs of the end consumer of the future.
Unafraid to speak her mind and famously tenacious in her convictions, Eleanor Roosevelt was still mourning the death of FDR when she was asked by President Truman to lead a controversial commission, under the auspices of the newly formed United Nations, to forge the world’s first international bill of rights. A World Made New is the dramatic and inspiring story of the remarkable group of men and women from around the world who participated in this historic achievement and gave us the founding document of the modern human rights movement. Spurred on by the horrors of the Second World War and working against the clock in the brief window of hope between the armistice and the Cold War, they grappled together to articulate a new vision of the rights that every man and woman in every country around the world should share, regardless of their culture or religion. A landmark work of narrative history based in part on diaries and letters to which Mary Ann Glendon, an award-winning professor of law at Harvard University, was given exclusive access, A World Made New is the first book devoted to this crucial turning point in Eleanor Roosevelt’s life, and in world history. Finalist for the Robert F. Kennedy Book Award
The role of Corporate Social Responsibility in the business world has developed from a fig leaf marketing front into an important aspect of corporate behavior over the past several years. Sustainable strategies are valued, desired and deployed more and more by relevant players in many industries all over the world. Both research and corporate practice therefore see CSR as a guiding principle for business success. The “Encyclopedia of Corporate Social Responsibility” has been conceived to assist researchers and practitioners to align business and societal objectives. All actors in the field will find reliable and up to date definitions and explanations of the key terms of CSR in this authoritative and comprehensive reference work. Leading experts from the global CSR community have contributed to make the “Encyclopedia of Corporate Social Responsibility” the definitive resource for this field of research and practice.
Around the turn of the millennium it had become painfully evident that development aid, charity or "global business-as-usual" were not going to be the mechanisms to alleviate global poverty. Today, there is little dispute that poverty remains the most pressing global problem calling for innovative solutions. One recent strategy is the Base of the Pyramid (BoP) concept developed by Prahalad and Hart, which relies on entrepreneurial activity tapping into the previously ignored markets of the economically most disadvantaged. It is a process requiring innovations in several disciplines: technological, social and business.This book covers a number of areas. First, much of the current BoP discussion emphasises targeting products to the needs of the poor. But do we actually know what the real needs of the poor are? This book takes a bottom-up human-centred approach and examines examples that truly engage the poor in BoP product and service development. What types of needs assessment methodologies are indicated considering the cultural differences in BoP countries? Are the existing methodologies adequate? Do they need to be redefined and redeveloped? Second, the book considers how we can balance poverty alleviation and stimulate economic growth without stressing the ecosystem. Tragically, the poor are hardest hit by the adverse effects of environmental deterioration such as water shortages, climate change or the destruction of habitats. While the economic welfare of the poor is critical, the BoP approach must balance its inherent paradox of encouraging greater consumption while avoiding further pressures on environmental sustainability. The link between the BoP approach and sustainable development is a key feature of this book. Third, it looks at innovation and asks what kinds of"bottom-up" innovation (open source, technological, social and business) support BoP initiatives (and sustainable development)?Fourth, the book deals with the relationship between development assistance and BoP. Is a BoP strategy the antithesis to development aid or can these two co-exist or even complement each other?Finally, the book raises questions about the relationship between corporate responsibility and BoP. Is BoP a new form of corporate neo-colonialism or a new form of corporate responsibility? Although the BoP concept has unleashed an extensive and generally enthusiastic response from academics, businesses, NGOs and governments, the knowledge domain around this concept is still in the early stages of development. This book addresses that need with a focus on the needs of the end-users – the poor – as a starting point for BoP products and innovations. With contributions from both supporters and critics, it provides a treasure trove of global knowledge on how the concept has developed, what its successes and failures have been and what promise it holds as a long-term strategy for alleviating poverty and tackling global sustainability.
This volume presents a pragmatic approach to understanding and capitalizing on contemporary m-commerce trend. It comprehensively encapsulates the evolution, emergent trends, hindrances and challenges, and customer perceptions about various facets of how physical and online retail channels are merging, blurring, and influencing each other in new ways. The rapid rise of m-commerce (or mobile commerce) has led to the emergence of new paradigms in the marketplace. The difference between physical and digital retail is diminishing, and a new “phygital retail” phenomenon is on the rise. Marketers need to understand this emerging paradigm and consider the new opportunities and challenges involved. This volume, M-Commerce: Experiencing the Phygital Retail, provides a comprehensive discussion of the contemporary m-commerce concepts along with the emerging paradigms in a pragmatic way. It presents empirical analyses and reviews on the myriad aspects of m-commerce, including both contemporary academic and business research.
BOP marketing practices are new and still evolving, despite the ground-level challenges, and several failures. This edited book extends the knowledge on bottom of pyramid (BOP) through contributions by leading scholars in this domain, and embodies the knowledge that would be useful for marketing practice coming from top BOP marketing scholars.
As incredible as it may seem in this hyper-connected, technologically advanced era, half the planet's population exist as "Financial nomads"-those who nourish and shelter themselves without using traditional banking services. While the wealthy live at the top of a metaphorical pyramid, taking financial security and banking services for granted, there are billions of people who struggle at the pyramid's base in an exhausting state of financial exclusion and insecurity. Times are changing rapidly, but despite global uncertainty, technology has the capacity to reach and equip people in all walks of life. Advances in communications have reconfigured the ease with which we interact with our money-and these advances can provide innovative financial services to the unbanked and underserved around the world. Financial inclusion for all is indeed within our reach, and with this conviction, authors Karl Mehta and Carol Realini propose a vision for a better world and a blueprint to get there....