| The pathbreaking book, The Fortune 
                    at the Bottom of the Pyramid, by late CK Prahalad, the renowned management 
                    guru, brought to focus the world's most exciting and the fastest  growing market: the 
                    bottom of the pyramid consisting of the world's 4 billion poor who make less than $2 a 
                    day. In Prahalad's own words, this poor representing the so-called Bottom of 
                    the Pyramid or BOP, cannot be just ignored because of their immense buying power 
                    and entrepreneurial capabilities. But, according to him, 
                    multinational corporations (MNCs), "have undermined the efforts of the 
                    poor to build their livelihoods" and done 
  "greatest harm" by ignoring them altogether.  By putting the blame on MNCs for the misery of the four billion poor, Prahalad 
                      made a case and created a worldwide movement that brought the attention of the 
                      top executives of world's largest corporations to a pressing humanitarian need. He 
                      also had found a mantra to finally grab the private companies' attention to 
                      help eradicate world poverty.  While focusing on this 4 billion poor people, Prahalad highlighted the fact 
                      that by virtue of their numbers, the poor represented a significant market 
                      segment that needs to be unlocked. According to him, the major BOP economies, valued 
                      at $12.5 tn as a whole were more formidable "than the combined GDP of 
                      Japan, Germany, France, the UK, and Italy"  -  
                      in other words, the poor were not poor after all!  |