Book review of the day: "Fortune at the Bottom of the Pyramid."

 Fortune at The Bottom of The Pyramid (2004), by C.K. Prahalad (1941-2010):

The Fortune at The Bottom of The Pyramid provides you with these facts, while telling you why what you know about BOP markets is wrong. This book, for a refreshing change, is not about BPO, but BOP, the bottom of the pyramid, the real source of market promise. “Why is it that with all our technology, managerial know-how, and investment capacity, we are unable to make even a minor contribution to the problem of pervasive global poverty and disenfranchisement?” This profound question hits you only to leave you answerless. This is definitely a book which makes you sit up and think from the very beginning. Whether you're a business leader or an anti-poverty activist, this book shows you why you can't afford to ignore "Bottom of the Pyramid" (BOP). 

Some interesting cases:

+ There are 5.5 million amputees in India. An additional 25,000 lose their limbs each year due to disease, accidents or other hazards. Most of these people live well below the poverty line and can afford neither a prosthetic limb (average cost = $7000) nor the subsequent replacements and hospital visits. How did Dr. P.K. Sethi along with craftsman Ram Chandra develop an effective prosthesis (cost = $30) that even enabled a professional dancer to further her career on stage?

+ The world’s leading cause of mental disorders and retardation is Iodine Deficiency Disorder (IDD). In India alone there are 70 million people who have IDD and another 200 million are at risk. How did Hindustan Lever Ltd, a branch of a multinational company, solve the problem and make a profit at the same time?

+ More than 24 million Mexicans earn less than $5 a day, hence they have been unable to get access to credit. How did this change so that the Mexicans could build affordable housing for themselves while the third largest cement manufacturer in the world, Cemex, continues to reap the financial rewards?

+ Blindness affects 12 million people in India. How could the Aravind eye care system serve more than a million patients and do it mostly for free, yet continue to be highly profitable?

These are four examples of the provocative 12 in-depth case stories from India, Peru, Mexico, Brazil and Nicaragua that illustrate the world’s most exciting, and perhaps most lucrative market.

Source. HT: Carmencita Lopez.