Next Generation Business Strategies for 'Base of the Pyramid' Success
Date: Sunday, Aug 14
Time: 11:30AM - 1:00PM
Location: San Antonio Convention Center in Room 007 A
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Presenter: Stuart Hart; Cornell University
Presenter: Ted London; University of Michigan
Discussant: Jay B Barney; Ohio State University
The overarching goal of this All-Academy Symposium is to advance the conversation and research on next generation strategies for the BoP domain.
During the last decade, interest in the base of the pyramid (BoP) domain as a new market opportunity, business strategy, and poverty alleviation approach has gained considerable momentum. These first generation BoP ventures, however, focused primarily on "finding a fortune at the BoP" by selling existing goods to and sourcing familiar products from the world's four billion poorest people. Many of these initiatives were not able to scale and some failed outright. But through that experience, crucial lessons have been learned. Innovators are now succeeding, thanks to a more sophisticated and nuanced approach based on "creating a fortune with the BoP."
This shift from "fortune-finding" to "fortune-creating" has implications for how BoP ventures are organized, and how their strategies are conceived and implemented. This fortune-creating orientation aligns with the All-Academy theme of "West Meets East," as locally-driven innovations and insights must fuse with globally-based partners to generate sustainable, scalable business models that truly meet the needs of the poor. Attend this session and enjoy insights and discussions on the next evolution of the BoP domain.
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