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The Fortune at the Bottom of the Pyramid

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Dora Kiss

on 28 April 2011

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Transcript of The Fortune at the Bottom of the Pyramid

The Fortune at the Bottom of the Pyramid What does it mean? We all know about the serious inequalities in our world... The economic pyramid It is shocking to realise that if you keep your food in a refrigerator your clothes in a wardrobe have a bed to sleep in and a roof over your head You're richer than 75% of the entire population For more than 50 years, the World Bank, donor nations,
various aid agencies, national governments, and, lately, civil society organizations have all fought the good fight, but have not eradicated poverty. What can we do? C. K. Prahalad His concept is about how we can involve people at the bottom of the pyramid in the global economy. He starts with a simple proposition How is it possible? Eradicating poverty through profits?? STOP
thinking about the poor as burden victims INSTEAD, recognise them as creative and resilient ENTREPRENEURS value-conscious
CONSUMERS A whole new world of opportunity opens up! The way of doing it Innovation New dominant logic Collaboration large firms
civil organizations
local governments Assumption #1:
The poor are not our target customers;
they cannot afford our products or
services. Assumption #2:
The poor do not have use for products
sold in developed countries. Assumption #3:
Only developed countries appreciate
and pay for technological innovations. Assumption #4:
The BOP market is not critical for
long-term growth and vitality of MNCs. Assumption #5:
Intellectual excitement is in developed markets; it is very hard to recruit managers for BOP markets. WRONG! create opportunities for the poor by offering them choices and encourage self-esteem Creating Buying Power Shaping Aspirations Improving Access Tailoring Local Solutions distribution systems
communications links access to credit
income generation consumer education
sustainable development targeted product development
bottom-up innovation So far: Pioneers value pricing special packaging low-cost manufacturing volume capital efficiency Ruf 'n' Tuf Microfinance is a prerequisite! Thank you for your attention!
:) or
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