Word: prahalad
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Dates: during 2000-2009
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...combine the group's philanthropic heritage with modern business sense. Targeting the bottom of the income pyramid a lot of people with a little, rather than a few with a lot ticks both boxes. It's almost as if he's reciting from last year's hit book, C.K. Prahalad's The Fortune at the Bottom of the Pyramid Eradicating Poverty Through Profits. Tata points out that consumption, as it is understood in the West, is still a dream for all but a fraction of 3 billion people in the developing world. Only 58 million Indians, out of the country...
...UNIVERSITY OF MICHIGAN Incoming M.B.A. students take a two-week leadership course that includes a community-service project and continue taking courses incorporating social responsibility throughout their tenure. Like the students, Michigan's faculty spends a great deal of time focused on social problems. Renowned professor C.K. Prahalad, for instance, recently penned The Fortune at the Bottom of the Pyramid, detailing how the private sector can both profit and do society good by building businesses that serve poor consumers...
...billions of their counterparts in the world's shantytowns and slums represent the next big marketing opportunity for multinational companies. With sales growth harder to come by in a competitive world, enterprising companies are seeking expansion among the long-ignored lower classes. And it's about time, says C.K. Prahalad, a consultant and economist at the University of Michigan, who says these "aspirational poor" - people earning less than $2 a day who make up three-quarters of the world's population - could contribute an additional $13 trillion in annual sales to the global economy, if only companies would drill deep...
...Prahalad argues that squeezing profits from people with little disposable income isn't capitalist exploitation. In fact, tapping the spending power of the poor can reduce poverty, he maintains. Expansion by multinationals into new markets creates new jobs and income earned from those jobs ripples through local economies, creating more new jobs. "This creates a large pool of individual entrepreneurs who are participating in an expanded economy," says Prahalad. "The company makes more profit, and the people's lifestyle changes." The poor also benefit because they have access to services such as banking and insurance that once were denied them...
...Prahalad argues that squeezing profits from people with little disposable income--and often not enough to eat--isn't capitalist exploitation. In fact, tapping the spending power of the poor can reduce poverty, he maintains. Expansion by multinationals into new markets creates new jobs--product-distribution networks and shops, for example--and income earned from those jobs ripples through local economies, creating more new jobs, a phenomenon that economists call the multiplier effect. "This creates a large pool of individual entrepreneurs who are participating in an expanded economy," says Prahalad. "The company makes more profit, and the people's lifestyle...