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Fortune at the bottom of the pyramid
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Fortune at the bottom of the pyramid

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  • 1. C. K. Prahalad’s FORTUNE AT THE BOTTOM OF THE PYRAMID
  • 2. CONTENT Concept of BOP Market at BOP Products and Services for BOP Global Opportunity Ecosystem for Wealth Creation Reducing Corruption Developing Social Transformation
  • 3. CONCEPT OF BOPBOP: Bottom of PyramidConcern for BOPBig Questions:• Why can’t we do something for BOP?• Why can’t we mobilize the investment capacity of large firms with the knowledge and commitment of NGO’s and the communities that need help?• Why can’t we co-create unique solutions for BOP?Bigger Question:• What is the solution for all these questions?
  • 4. MARKET AT THE BOP •Poor are not victim or burden •There is a large market opportunity at BOP •How? •MNCs biggest mistake •New growth opportunity for MNC •MNC must become an integral part of the work at BOP •Dominant Logic
  • 5. MARKET DEVELOPMENT IMPERITIVES Create the capacity to consume  3 Basic Principles:  Affordability  Access  Availablility Need for new goods and services Dignity and choice Trust
  • 6. BENEFIT TO MNCS 4 to 5 billion underserved population 13 trillion PPP Large potential BUT… Need for innovation
  • 7. NATURE OF BOP There is money at BOP BOP accepts advanced technology ( ITC e-Chaupal) BOP Market is connected (Grameen phones, Bangladesh) Access to BOP (HLL, Shakti)
  • 8. PRODUCTS AND SERVICES FOR BOP Philosophy of developing Products and Services for BOP Twelve Principles of product innovation:1. Price-Performance (Reliance Monsoon Hungama)2. Innovation: Hybrid (HLL Iodized Salt3. Scale of Operation (Serving 1.5 billion across the border)4. Identifying functionality (Jaipur Foot)5. Sustainable Development (Resource Utilization)6. Process Innovation (Arvind Eye Care)7. Deskilling of work (Peru, Cemex)8. Education of customers (HLL, Handwash)9. Designing of hostile infrastucture (ITC e-Chaupal)10. Interface (Creative interface Design)11. Distribution (ICICI e-banking, ATM, Rural Banking)12. Change in conventional wisdom in delivery of goods and services
  • 9. BOP: GLOBAL OPPORTUNITY Engaging BOP Local Growth Opportunities (S curve & I curve) Local Innovation and Global opportunity BOP Solutions for developed markets Lessons for MNCs from BOP Markets:  Capital Intensity  Sustainable Development  Innovation Costs of Managing Learning to Live in a Network of Relationships
  • 10. ECOSYSTEM FOR WEALTH CREATION Market Oriented Ecosystem:  Micro Enterprises  Small and Medium Enterprises  Cooperatives  Large Local MNC firms  NGO Ecosystem for Developing Countries (HLL) Learning the Sanctity of Contracts ((HLL, Shakti Amma) Reducing Inequalities in Contracts (ITC e-Chaupal) Building Governance Capacity Among the poor (Bank of Madura, ICICI)
  • 11. REDUCING CORRUPTION Concept of TGC Building TGC ( Andhra Pradesh e-Governance Story, e- Seva)
  • 12. DEVELOPING SOCIAL TRANSFORMATION Social transformation Breaking down communication barriers BOP consumers upgrade Gaining access to knowledge Identity for the individuals Women are critical for development Evolving checks and balances
  • 13. CONCLUSION The real test: From the Pyramid to the Diamond
  • 14. THANK YOU

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