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Next Generation Business Strategies for the Base of the Pyramid: New Approaches for Building Mutual Value

Next Generation Business Strategies for the Base of the Pyramid: New Approaches for Building Mutual Value
Author: Ted London - Stuart L. Hart
ISBN 13: 9780137047895
ISBN 10: 137047894
Edition: 1
Publisher: FT Press
Publication Date: 2010-11-22
Format: Hardcover
Pages: 288
List Price: $34.99

“Anyone interested in the challenges and opportunities faced by the low-income people must read this well-researched book. At a time when intellectual discourse on this important topic is urgently needed, London’s and Hart’s book combines a wealth of experience in the corporate setting with a deep understanding of economics. Needless to say, we are in the midst of multiple global crises threatening the well-being of all. This book is an attempt to give capitalism new strategies for responding to those crises.”

—Muhammad Yunus, Head of Grameen

“This book demonstrates that the most socially useful business models to serve the Base of the Pyramid are those which are created for the market they seek to serve, incorporating appropriate green technologies and innovation-oriented strategies in venture development. Such ventures can go on to achieve the higher purpose of BoP businesses: poverty alleviation.”

—Ratan Tata, CEO, Tata Industries

“More than a decade ago, C.K. Prahalad and others first opened our eyes to the huge opportunities inherent in Base of the Pyramid markets. This book captures the thinking of the last 10 years and confirms that those opportunities are greater than ever. As such, it is a fitting tribute to Prahalad and his fellow pioneers—and an essential read for anyone wishing to understand and capitalize upon the real potential of BoP marketplaces.”

—Paul Polman, Chief Executive, Unilever

“A crucial and most creative re-framing of the BoP debate: The authors look at the world’s poor not just as four billion more consumers, but also as a source of talented entrepreneurs—potential business partners ready to enter the formal economy to put their assets to work and lift themselves, and their countries, out of poverty.”

—Hernando de Soto, Institute for Liberty and Democracy

“The Base of the Pyramid is a big breakthrough idea that risked being captured as the new conventional wisdom. This clever book by scholars and practitioners averts that by taking the deeply original insight to the next stage. A fitting tribute to C.K. Prahalad.”

—Lord Mark Malloch-Brown, Former Administrator, United Nations Development Programme

“Ted London’s and Stuart Hart’s insightful book explores with a fresh lens the challenges facing the economies and communities of the BoP, and offers long-term solutions based on joint value-creation rather than ‘fortune-seeking.’ Today’s businesses must engage with these communities on a deeper level, to ensure equal understanding of the culture’s needs, how to educate BoP business owners, and to uncover ways to move forward—with sustainability as a top priority. This book makes an invaluable contribution to that end.”

—Fisk Johnson, CEO, S.C. Johnson

During the last decade, first-generation “Base of the Pyramid” (BoP) ventures focused primarily on “finding a fortune at the BoP“ by selling existing goods to and sourcing familiar products from the world’s four billion poorest people. Many of these initiatives did not scale, and some failed outright. But through that experience, crucial lessons have been learned. Innovators are now succeeding—thanks to a more sophisticated and nuanced approach based on “creating a fortune with the BoP.”

In this book, co-editors Ted London, Stuart L. Hart, and other leading BoP thought and practice leaders show how to apply these second-generation BoP innovations, techniques, and business models. You’ll learn how to build successful business ventures, create sustainable business ecosystems, design new technologies with the BoP in mind, and even transform entire sectors through collaborative entrepreneurship. Key lessons to be learned include

Roadmaps for Success

• A roadmap for venture development

• Patient capital and innovation for the BoP

Strategic Opportunities

• The “Green Leap” and the BoP

• Turning BoP needs into markets

Effective Implementation

• Understanding the BoP at the micro level

• Reframing design for the BoP

• Scaling up BoP ventures