Base of the Pyramid 3.0 - 9781783532032

The annual income of well over 4 billion people--approximately 60% of all humanity--is less than $1,500. The term Base of the Pyramid was first coined by Stuart L. Hart and C.K. Prahalad in 2002 and has become synonymous with both the method by which we can more effectively address poverty and the opportunity that exists in a multi-trillion dollar market. A whole new lexicon has emerged to describe this phenomenon, including new buzzwords and catch phrases like inclusive business, opportunities for the majority, sustainable livelihoods, pro-poor business, and social business and thousands of new businesses, institutions and investment funds have been set up.

In this ground-breaking new book, Stuart L. Hart and Fernando Casado Cañeque have worked with members of the BoP Global Network to shake the tree, look objectively at what has happened since 2002, highlight why earlier applications of BoP haven't worked and propose new objectives and ways of working to formulate more sustainable solutions.

The book challenges the reader and organizations to think about the mindset and purpose across whole organizations, open innovation rather than simply co-creation, and a complete review of the innovation eco-system.

Through this book, practitioners will gain a clearer insight into which business models can work within different communities to ensure a sustainable transition to improved local economies. Equally, the book is a must read for researchers and students in the fields of entrepreneurship, innovation, sustainable development and environmental management.