The Fortune at the Bottom of the Pyramid, Revised and Updated 5th Anniversary Edition: Eradicating Poverty Through Profits

PART I: THE FORTUNE AT THE BOTTOM OF THE PYRAMID: The market at the bottom of the pyramid -- Products and services for the BOP -- BOP: a global opportunity? -- The ecosystem for wealth creation -- Reducing corruption: transaction governance capacity -- Development as social transformation -- PART II: INNOVATIVE PRACTICES AT THE BOTTOM OF THE PYRAMID: The market at the bottom of the pyramid -- Known problems and known solutions: what is the missing link? -- Know problems and unique solutions -- Known problems and systemwide reform -- Scaling information -- Creating enabling conditions for the development of the private sector -- PART III: CD: 35 minutes of video success stories filmed on location in the bottom of the pyramid in India, Peru, Mexico, Brazil, and Venezuela.;Presents the theory that there are commercial opportunities in the poor nations of the world for private companies, and that companies can utilize this knowledge to make profits and at the same time fight poverty.

“C.K. Prahalad argues that companies must revolutionize how they do business in developing countries if both sides of that economic equation are to prosper. Drawing on a wealth of case studies, his compelling new book offers an intriguing blueprint for how to fight poverty with profitability.”

—Bill Gates, Chairman and Chief Software Architect, Microsoft (2004)

An idea can change the world...

• How to serve the world’s poorest people and make a profit

• New strategies and tactics for building winning businesses in today’s emerging markets

• New bottom of the pyramid trends in technology, healthcare, consumer goods, finance, and beyond

• Insights from top CEOs succeeding in emerging markets

• New and updated case studies—from Jaipur Rugs’ revolutionary supply chain to Reuters’ data services for farmers

Five years ago, C.K. Prahalad’s The Fortune at the Bottom of the Pyramid showed companies how they could reignite profits and growth by serving the world’s five billion poorest people. Hundreds of firms have successfully taken that path—building large, profitable businesses that are reducing poverty and eliminating human misery at the same time.

Now, Prahalad has updated his extraordinary book to reflect the lessons of the past five years: business-building strategies, techniques, and innovations proven to work in emerging markets. The fortune at the bottom of the pyramid: doing well by doing good or doing good by doing well!

Inspired by C.K. Prahalad’s breakthrough insights in the original edition of The Fortune at the Bottom of the Pyramid, a wide variety of firms are identifying, building, and profiting from new markets among the world’s poorest people—while at the same time helping eliminate poverty and human misery. Five years after this book’s first publication, Prahalad’s ideas are no longer isolated instances of innovations. They are proven, widely practiced “reality.”

In this 5th Anniversary Edition, Prahalad updates his book to give readers a picture of how this idea is being implemented in poor regions around the world.

Prahalad also offers an up-to-the-minute assessment of key questions such as: Is there truly a market? Is there scale? Is there profit? Is there innovation? Is this a global opportunity? Five years ago, executives could be hopeful that the answers to these questions would be positive. Now, as Prahalad demonstrates, they can be certain of it.

• Solving the unique problems faced by bottom of pyramid customers
  How to make a profit by helping people escape poverty and misery

• Breakthrough forms of innovation for emerging markets
  From rugs to cellphones, finance to energy, supply chains to state-of-the-art technology

• Building new ecosystems for wealth creation
  You can’t do it alone—but you can do it together

• Scaling up to impact the enterprise—and society
  Beyond “micro-businesses” and prototypes: large presence, large wins

The CD included with the book includes video case studies and three bonus PDF case studies. Bonus videos and case studies, in addition to those on the CD, can be found on the book's website, www.whartonsp.com/prahalad.

Drawing on Prahalad's breakthrough insights in The Fortune at the Bottom of the Pyramid, great companies worldwide have sought to identify, build, and profit from new markets amongst the world's several billion poorest people, while at the same time helping to alleviate poverty. Five years after its first publication, this book's ideas are no longer'theory': they are proven, profitable reality. In the 5th Anniversary Edition, Prahalad thoroughly updates his book to reveal all that's been learned about competing and profiting'at the bottom of the pyramid.'Prahalad outlines the latest strategies and tactics that companies are utilizing to succeed in the developing world. He interviews several innovative CEOs to discuss what they've learned from their own initiatives, including the Unilever business leader who's built a billion-dollar business in India. You'll find a new case study on Jaipur Rugs'innovative new global supply chain; updates to earlier editions'key cases; and up-to-the-minute information on the evolution of key industries such as wireless, agribusiness, healthcare, consumer goods, and finance. Prahalad also offers an up-to-date assessment of the key questions his ideas raised: Is there truly a market? Is there scale? Is there profit? Is there innovation? Is this a global opportunity? Five years ago, executives could be hopeful that the answers to these questions would be positive. Now, as Prahalad demonstrates, they can be certain of it. Presents The Theory That There Are Commercial Opportunities In The Poor Nations Of The World For Private Companies, And That Companies Can Utilize This Knowledge To Make Profits And At The Same Time Fight Poverty. Part I: The Fortune At The Bottom Of The Pyramid: The Market At The Bottom Of The Pyramid -- Products And Services For The Bop -- Bop: A Global Opportunity? -- The Ecosystem For Wealth Creation -- Reducing Corruption: Transaction Governance Capacity -- Development As Social Transformation -- Part Ii: Innovative Practices At The Bottom Of The Pyramid: The Market At The Bottom Of The Pyramid -- Known Problems And Known Solutions: What Is The Missing Link? -- Know Problems And Unique Solutions -- Known Problems And Systemwide Reform -- Scaling Information -- Creating Enabling Conditions For The Development Of The Private Sector -- Part Iii: Cd: 35 Minutes Of Video Success Stories Filmed On Location In The Bottom Of The Pyramid In India, Peru, Mexico, Brazil, And Venezuela. C.k. Prahalad. Subtitles From Jacket. Includes Bibliographical References And Index. 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 marketingUnlocking the "poverty penalty"The most enduring contributions your company can make Delivering dignity, empowerment, and choice—not just productsCorporations and BOP entrepreneurs Profiting together from an inclusive new capitalism "In the book and accompanying CD videos, Prahalad presents: why what you know about BOP (Bottom of the Pyramid) markets is wrong; unlocking the "poverty penalty"; the most enduring contributions your company can make; and corporations and BOP entrepreneurs."--BOOK JACKET. pt. 1. Private sector and poverty : progress during 2004-2009 -- pt. 2. The original text of the book -- pt. 3. CEO reactions to the concept and the book -- pt. 4. Case studies and CEO comments -- pt. 5. Video clips. Accompanying CD-ROM contains ... "12 video cases shot on location in Peru, Mexico, Venezuela, India and Brazil ... [and] bonus case stories (text)."--CD-ROM label Turn on your television and you will see calls for money to help the world's 4 billion poor-people who live on far less than $2 a day.