The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits

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9780131467507: The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits

The last couple of decades have seen great increases in sales, now multinational corporations are seeing markets with sluggish or no growth. One market that's been overlooked is also the fastest growing market in the world, and it's where you least expect it: at the bottom of the pyramid. Collectively, the world's 5 billion poor have vast untapped buying power. They represent enormous potential for companies who learn how to serve this market by providing the poor with what they need. This creates a win-win situation: not only do corporations tap into a vibrant market, but by treating the poor as consumers they are no longer treated with indignity; they become empowered customers. Corporations who service this market form an economic infrastructure, which creates real jobs for the poor, and finally an end to the vicious cycle of poverty. This book is a 3-part manifesto: passionate argument; detailed case studies from India, Peru, Mexico, Brazil, and Venezuela, and range from salt to soap, banking to cellphones, health to housing; and lastly, a CD with digital videos shot on location, designed to bring these innovations alive.C K Prahalad shows why we can't afford to ignore "Bottom of the Pyramid"(BOP) markets.

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From the Back Cover:

The world's most exciting, fastest-growing new market? It's where you least expect it: at the bottom of the pyramid. Collectively, the world's billions of poor people have immense entrepreneurial capabilities and buying power. You can learn how to serve them and help millions of the world's poorest people escape poverty.

It is being done—profitably. Whether you're a business leader or an anti-poverty activist, business guru Prahalad shows why you can't afford to ignore "Bottom of the Pyramid" (BOP) markets.

In the book and accompanying CD videos, Prahalad presents...

Why what you know about BOP markets is wrong
A world of surprises—from spending patterns to distribution and marketing

Unlocking the "poverty penalty"

The most enduring contributions your company can make
Delivering dignity, empowerment, and choice—not just products

Corporations and BOP entrepreneurs
Profiting together from an inclusive new capitalism

"C. K. Prahalad argues that companies must revolutionize how they dobusiness in developing countries if both sides of that economic equation areto prosper. Drawing on a wealth of case studies, his compelling new bookoffers an intriguing blueprint for how to fight poverty with profitability."
Bill Gates, Chairman and Chief Software Architect,Microsoft
"The Bottom of the Pyramid belongs at the top of the reading list forbusiness people, academics, and experts pursuing the elusive goal ofsustainable growth in the developing world. C. K. Prahalad writes withuncommon insight about consumer needs in poor societies andopportunities for the private sector to serve important public purposes whileenhancing its own bottom line. If you are looking for fresh thinking aboutemerging markets, your search is ended. This is the book for you."
Madeleine K. Albright, Former U.S. Secretary of State
"Prahalad challenges readers to re-evaluate their pre-conceived notionsabout the commercial opportunities in serving the relatively poor nations ofthe world. The Bottom of the Pyramid highlights the way to commercialsuccess and societal improvement--but only if the developed worldreconceives the way it delivers products and services to the developingworld."
Christopher Rodrigues, CEO, Visa International
"An important and insightful work showing persuasively how the privatesector can be put at the center of development, not just as a rhetoricalflourish but as a real engine of jobs and services for the poor."
Mark Malloch Brown, Administrator, United Nations Development Programme

About the Author:

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.

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