The Fortune At The Bottom of the Pyramid
: Eradicating Poverty Through Profits" which argues that poorest
people in the world shouldn't be looked at as victims, but as potential
customers who, if they earn more money, will be better off, and will be
better customers, as well. Instead of public welfare, the private
sector's focus on the poor could help end poverty, build respect and
dignity, reduce dependency, and encourage entrepreneurship.
For half a century governments and charities have fought hard but have not ended poverty. Instead of thinking of the ppor as victims but as creative, smart entrrepreneurs and value conscious consumers, a new paradigm can be made. Four billion poor people can start a whole new world of global prosperity, globabl trade, and innovatins.
Right now, the poor are under-served and mostly ignored. They demand products and services, and if the private sector can give them tat, the poor, instead of being "the masses", will earn respect, dignity, and attention that right now only the middle-class and the rich get. Business will pay more attention to the poor and self-esteem will rise. So will the entrepreneurial drive at the bottom of the pyramid.
Up till now, products have been marketed for rich people in the west
and so the bottom of the pyramid is left out. Products need to be
re-engineered with smaller units, lower margins, and higher volumes.
Current western methods and products will not work - we need innovation in
product development - like the $100 laptop idea.
Not associated or endorsed by the OLPC, creator of the $100 laptop