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THE FORTUNE AT THE BOTTOM OF THE PYRAMID
BOP: A GLOBAL OPPORTUNITY
QUOTE:
“Transaction Governance Capacity” or TGC which is basically the availability of the necessary legal framework for honouring market transactions and enforcing contracts.
LEARNING EXPECTATION:
Building a body of knowledge also was cited as critical in these early days of BOP ideation. “Experience with and understanding of BOP,” was how one respondent put it.
Another suggested what is needed is the development of “a business model that provides a holistic solution versus just a single element.”
Similarly, someone else thought increasing “understanding of BOP and providing basic tools, approaches, methods” was most important.
REVIEW:
This book as acknowledged duly by Prof Prahalad has been an eye opener in unlocking the vast untapped potential of dead capital and entrepreneurial abilities of over two thirds of the world’s poor who are trapped outside the bell jar of market based economies. Prof Prahlad shows us the way to social transformation and economic freedom while providing choice with dignity for the individuals through a market based ecosystem involving large multinationals, NGOs, Governments and the individuals themselves.
LESSONS LEARNED:
The book begins with an affirmative “yes” to the question of whether the BOP is a huge market that can be effectively tapped for a win-win outcome for the poor across the globe and the multinationals who serve them.
Before reading the book it is advisable the see the videos. These are true case studies across continents and industry verticals at the BOP. One cannot resist the temptation of reading the book from cover to cover soon after.
Addressing the huge BOP market needs innovative approaches. Large multinationals that try to transplant high end technologies from developed countries into developing worlds often meet with markets that are “not yet ready” or “too small”. Instead they need innovative approaches to develop products that address the needs at the “lower end” of the market. Perhaps Prof Clayton Christensen’s theory on disruptive innovations can be well utilized for this. Incumbents ignore these segments that are huge market opportunities for new entrants.
INTEGRATIVE QUESTIONS:
1.    What is global market?
2.    Is there a developing worlds?
3.    Who is Prof Clayton Christensen’s ?
4.    Is there a policy in developing countries?
5.    Define global Opportunity?