getAbstract Summary: Get the key points from this book in less than 10 minutes.

C.K. Prahalad's excellent book suggests replacing traditional notions of government-channeled aid with a new model for relieving poverty and stimulating development. The new model relies on profit-making businesses, especially multinational corporations (MNCs). The MNCs have an economic incentive to tap the great market that exists, all but hidden, at the bottom of the economic pyramid. The professor of business administrations demonstrates clearly that it is possible to develop business models that allow the poorest of the poor to participate actively in their own economic development by becoming entrepreneurs. Although the individuals at the bottom of the pyramid (referred to as BOP) have little money, collectively they represent a vast pool of purchasing power. They welcome opportunities to escape their oppressive burdens, including predatory intermediaries, corrupt governments and the societal "poverty penalty" that requires them to pay more than the rich for similar services. Clearly written, well documented and furnished with an abundance of anecdotes, getAbstract considers this book a must-read both for those interested in alleviating poverty and for those looking to tap a vast new market for consumer goods.

Book Publisher:

Wharton School Publishing