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Product Description
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.
From the Back Cover
“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.
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Customer Reviews
WHile I cannot do justice to Prahalad's model, which is presented in the first part of the book, there is much of it that deserves scrutiny. He argues that corporations need to adapt many of their basic methods and assumptions to these markets, throwing out many aspects of the conventional wisdom. FOr example, corporations must be willing to offset lower-profit margins with the huge potential demand that underdeveloped markets exhibit - this turns competitive advantage on its head, as many corporations would seek to get out of such "commoditized" markets once profit margins per product begins to drop. Corporations must also spend more time educating potential consumers in such areas as personal hygiene, which requires partnerships with health officials, etc. (That was to promote handwashing as a way to prevent diarrhea, which is a major killer of children in the 3-W.) While his ideas do not add up to a coherent model, they are diverse enough to be useful to those who are contemplating market entry in 3-W countries.
The second half of the book has case studies that illustrate Prahalad's ideas. This was a far weaker part of the book: the stories are rather poorly written, often the concepts that drive the businesses are unclear, and even the explanations (of what the core innovations were) are hard to follow. Nonetheless, there are many interesting nuggets of info in them, if the reader has the time to plow thru them. There is also a supplemental cd-rom, which I found almost completely useless for those who want to get at the ideas quickly - they are amateurish and do not encapsulate the book's ideas independently of the book's text, but rather supplement it. And poorly at that.
Finally, while I am sure that these stories helped a lot of people, nothing is put forward to argue that the cases are anything more than isolated incidents - is this really significant, I wondered? How will it diffuse in the overall economy? When? What else must be done? These macro-questions are wholly unanswered and yet, I feel, crucial for anyone who might want to get involved in this approach.
REcommended as food for thought.
There is a need for new business models to succeed in these markets, this book has several examples!
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