Among all the markets in the world, the fastest growing market is at the bottom of the pyramid. The emerging businesses here through which one can make profits, helps remove poverty. There are almost five billion poor people in the world, and they present a golden opportunity for business ventures. Several companies have already begun businesses that help reduce penury, and the misery associated with it.
In his book, author Prahlad talks about the various profit-centric opportunities and business-building strategies associated with such markets. He talks about how new trends in technology, healthcare, finance, consumer goods, and many such areas provide wider options for starting businesses in rural areas. He includes eleven case studies of companies like Jaipur Rugs with their revolutionary supply chain, and other stories about companies in the banking sector, the mobile sector, and the healthcare sector. In the beginning of the book, he gives a clear picture of the progress of poverty during 2004-09. He presents the principles for innovative strategies and the global opportunities provided by emerging markets at the bottom of the pyramid. He moves on to elaborate interviews with CEOs of top companies and their success stories. Stories about companies like ITC e-Choupal, ICICI, Hindustan Unilever, and Cemex are included, among others. There are also video clips presented on whartonsp.com, which provide substantial data for the case studies.
This book, in simple words, is about bringing a revolution by starting at the bottom. It was published in 2012.
About the Author
C. K. Prahlad was a famous entrepreneur and a professor of corporate strategies in the University of Michigan.
Apart from this book, he is the co-author of Core Competence of The Corporation with Gary Hamel, and The New Age of Innovation with M.S. Krishnan.
He was born in 1941, in Coimbatore, India. He completed his B.Sc in Loyola College, Chennai. He obtained an M.B.A from the Indian Institute of Management (IIM), Ahmedabad. After that, he wrote a doctoral thesis on multinational management at Harvard Business School, where he obtained his DBA degree. He was the founder and later the CEO of Praja Inc., a company that was later sold to TIBCO. He constantly featured in the list of top ten management thinkers in the last ten years. He received the Lal Bahadur Shastri Award for his contributions to management and public administration, in 1999. He died of an unusual lung illness in 2010, in San Diego, California.
Overhyped, Weak, and Somewhat Suspicious
17 Jan, 2012
5 Aug, 2014
Boring and nothing intersting
29 Jul, 2014
A brilliant book to read.
Anandsree s nair
14 Aug, 2013
marketing at its core
28 Jan, 2013