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Summary
Summary
The world's most exciting, fastest - growing new market is where you least expect it: at the bottom of the pyramid. bull; ' The real source of market promise is not the wealthy few in the developing world, or even the emerging middle - income consumers. It is the billions of aspiring poor who are joining the market economy for the first time.' - CK Prahalad bull; Endorsed by world leaders and the UN Commission on Private Development and the Poor
Author Notes
C.K. Prahalad is Harvey C. Fruehauf Professor of Business Administration and Professor of Corporate Strategy and International Business at the University of Michigan Business School. He is a globally recognized business consultant who has worked with senior management at many of the world's leading companies. Prahalad's groundbreaking article, "The End of Corporate Imperialism," won the 1998 McKinsey Prize as the year's best Harvard Business Review article. C. K. co-authored several important papers and articles, including "The Fortune at the Bottom of the Pyramid," which have helped launch a global movement towards private-sector solutions for global poverty. His research focuses on corporate strategy and the role of top management in diversified multinational corporations. With Gary Hamel, he co-authored the global business bestseller Competing for the Future .
Reviews 1
Choice Review
The majority of the world's population lives in poverty. This serious problem is well recognized but remains largely unsolved. Many believe little can be done to enable the poor people of the world, who represent the "bottom of the pyramid" (BOP), to improve their living standards and participate in a market-oriented society. However, Prahalad (Univ. of Michigan) provides case histories of corporations that, through innovative adjustments to meet conditions of poverty, have not only enabled poor people to purchase goods and services, but have done so at a profit. He notes that many misconceptions exist concerning BOP markets, particularly that it is impossible for people in these markets to find the means to make purchases and for marketers to show a profit. The book's first part provides an approach to private sector involvement in BOP markets and draws attention to the potential for expanding sales to those markets. The second part contains detailed case studies of companies that have successfully marketed to poor people. Cases are supplemented by a video CD included with the book. Prahalad presents strong arguments for expanding successful ventures to other areas of the world in an attempt to solve the world's poverty problem. Chapter endnotes; numerous figures. ^BSumming Up: Recommended. All collections. W. C. Struning emeritus, Seton Hall University
Table of Contents
| Preface |
| About the Author |
| I The Fortune at the Bottom of the Pyramid |
| 1 The Market at the Bottom of the Pyramid |
| The Power of Dominant Logic |
| The Nature of the BOP Market |
| There Is Money at the BOP |
| Access to BOP Markets |
| The BOP Markets Are Brand Conscious |
| The BOP Market Is Connected |
| BOP Consumers Accept Advanced Technology Readily |
| The Market Development Imperative |
| Create the Capacity to Consume |
| The Need for New Goods and Services |
| Dignity and Choice |
| Trust Is a Prerequisite |
| Benefits to the Private Sector |
| 2 Products and Services for the BOP |
| A Philosophy for Developing Products and Services for the BOP |
| Twelve Principles of Innovation for BOP Markets |
| Making It Happen |
| Conclusion |
| 3 BOP: A Global Opportunity? |
| Engaging the BOP |
| Local Growth Opportunities |
| Learning to Grow |
| Local Innovations and Global Opportunity |
| BOP Solutions for Developed Markets |
| Lessons for MNCs from BOP Markets |
| Captial Intensity |
| Sustainable Development |
| Innovations |
| The Cost of Managing |
| Learning to Live in a Network of Relationships |
| 4 The Ecosystem for Wealth Creation |
| Market-Oriented Ecosystem |
| Ecosystems for a Developing Country |
| Learning the Sanctity of Contracts |
| Reducing Inequities in Contracts |
| Building Governance Capabilities Among the Poor |
| 5 Reducing Corruption: Transaction Governance Capacity |
| Are the Poor Poor? |
| TGC |
| Building TGC |
| The Andhra Pradesh e-Governance Story |
| eSeva |
| Center for Good Governance |
| Impediments |
| Lessons from the Andhra Pradesh Experiment |
| Appendix: List of eSeva Services |
| 6 Development as Social Transformation |
| Development as Social Transformation |
| Breaking Down Barriers to Communication |
| BOP Consumers Upgrade |
| Gaining Access to Knowledge |
| Identity for the Individual |
| Women Are Critcal for Development |
| Evolving Checks and Balances |
| The Real Test: From the Pyramid to the Diamond |
| II Innovative Practices at the Bottom of the Pyramid |
| Section I The Market at the Bottom of the Pyramid |
| Casas Bahia: Fulfilling a Dream |
| CEMEX: Innovation in Housing for the Poor |
| Section II Known Problems and Known Solutions: What Is the Missing Link? |
| The Annapurna Salt Story: Public Health and Private Enterprise |
| Selling Health: Hindustan Lever Limited and the Soap Market |
| Section III Known Problems and Unique Solutions |
| Jaipur Foot: Challenging Convention |
| The Aravind Eye Care System: Delivering the Most Precious Gift |
| Section IV Known Problems and Systemwide Reform |
| ICICI Bank: Innovations in Finance |
| The ITC e-Choupal Story: Profitable Rural Transformation |
| The EID Parry Story On CD |
| Section V Scaling Innovations |
| The Voxiva Story |
| Innovations in Energy: E+Co's Investment in Tecnosol On CD |
| Section VI Creating Enabling Conditions for the Development of the Private Sector - On CD |
| Citizen Centricity: E-Governance in Andhra Pradesh On CD |
| Biography |
| Index |
| III |
| Casas Bahia (3:54) |
| CEMEX (3:07) |
| Annapurna Salt (4:05) |
| Hindustan Lever Limited (4:16) |
| Jaipur Foot (4:40) |
| Aravind Eye Care (6:08) |
| ICICI Bank (4:23) |
| ITC e-Choupal (4:08) |
| EID Parry (4:12) |
| Voxiva (3:33) |
| E+Co/Tecnosol (4:34) |
| Andhra Pradesh (3:30) |
| Interactive practices text in PDF format |
| The EID Parry Story |
| Innovations in Energy: E+Co's Investment in Tecnosol |
| Citizen Cent |
