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Hi Prahalad Essay

816 words - 4 pages

Democratizing Commerce:
The Challenge for the 21st Century

C.K. Prahalad
Paul and Ruth McCracken Distinguished University Professor The Ross School of Business at the University of Michigan

© C.K. Prahalad

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The Critical Question: Is Globalization “Good” or “Bad” for the Poor? vs. How to Make Globalization Work for the Benefit of All?
© C.K. Prahalad 2

Democratizing Commerce:
Every Person to have Access to the Benefits of the Global Economy.

© C.K. Prahalad

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Democratizing Commerce:
Every Person to have Access to the Benefits of the Global Economy.
Every Person as a Consumer: Afford world class products and services, Shape their own experiences.

+
Every ...view middle of the document...

K. Prahalad 9

Participation In BOP Markets
1. Converting consumers from Unorganized, inefficient markets to Organized and Efficient Private sector 2. It is a Market Development Task 3. BOP Markets will Force Breakthrough Innovations 4. We have to think differently; Price - Profit = Cost Cost + Profit = Price
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Desire for Eyesight
Target Price

Target Profit

Target Cost
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Desire for Connectivity
Target Price

Target Profit

Target Cost
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Desire for a Car?
Target Price

Target Profit

Target Cost
© C.K. Prahalad 13

The Desire for Connectivity
Target Price

Target Profit

Target Cost
© C.K. Prahalad 14

Building New Supply Chains: Connecting Rural poor to Global Markets The Role of Micro Producers

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Scale and Decentralized Manufacturing

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Milk Collection Centers: Twice a Day Ritual in Rural India

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The Complex Reality

1970 to Now

1970 to Ongoing

2000 +

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Scale and Decentralized Manufacturing
Gujarat Cooperative Milk Marketing Federation
Milk procured/day 6.4 million Kgs. # of Farmers 2.2 million # of Villages 10,755 # of collection centers 3,000 + Revenues $ 840 m Exports $ 30 m

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© C.K. Prahalad

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Do We Need a New Methodology for Innovation at BOP? Creating Micro Consumers

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Making Products/Services Affordable
e.g. Prosthetics for the Poor
Evidence: Approach: Jaipur Foot, India Barefoot Walking, Squat on the Floor Sitting Cross legged Walking on Uneven Ground Paucity of...

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