Book Review: Chapter 3: BOP: Global Opportunity
Book: The Fortune at the bottom of the Pyramid
Author: C.K. Prahalad and Stuart L. Hart
Library Reference: N/A
Amazon Reference:
http://www.amazon.com/Fortune-at-BottomPyramid/dp/B00006L5AW/ref=sr_1_2?ie=UTF8&s=books&qid=1232066330&sr=1-2
Learning Expectations:
- I expect to have an idea of Bottom of the Pyramid for Global Opportunity
- What is the Global Opportunity in BOP?
- Can these opportunities effective to markets?
Quote:
“The quality, efficacy, potency, and usability solutions developed for the BOP Markets are very attractive for the top of the pyramid”
These are the factors why we call them a BOP. The power of the concept of BOP is still authentic and I can say that these factors will help improve the name of BOP for entrepreneurs. Since we are talking here about Global Opportunity, the number one actors in this chapter are an entrepreneur who aims to make a difference for the world.
Review:
Let’s describe first what is an opportunity? Basically it is a chance of people or group to attain advantageous goals. An when we commit or attain goals, it is our pride that we commit it and we are proud of something because we did something different for others. In relation to global community, it’s also the same, each one of us can attain goals. If anyone can attain for it, of course, each one of us has the chance to meet our goals in life and that is called opportunity. In this chapter, we can say that opportunity is very much useful to meet our goals in life. In relating to market, we believe that the market has a potential to attain opportunities and goals. In determining strength and weaknesses, opportunities and threats, we can determine how to achieve a particular goal. Identify it and trust your evaluation, you can now find your answer if you have a right opportunity for that. Especially, in applying this theory to market, it is very much effective because knowing this will lead to goals.
How do we engage BOP? It is stated here that there are two ways to engage the power of BOP into markets, first, the traditional approach. Traditional, it is an old style of doing things But even if it is traditional, it is the most authentic and basic way of attaining the goals considering that the market. For the BOP, the top of the pyramid is considered as the comfort zone. All business are aiming for that position.
What I’ve learned:
As stated here on this chapter (p.57), BOP Markets are a great source for experimentation in sustainable development. I agree with this statement because BOP is just a theory that is considered to be true. All part of the BOP market are considered to be scarce. This means that the natural resources here on earth are only limited, therefore, today, many companies are looking for innovation to produce or create product or services that is not harmful to mother earth as well as for the people.
The sustainability in a market is a great factor for the company who offer product and services for their consumers, therefore, these companies must motivate to give the best they can offer for the consumers. Targeting poor people is a factor in BOP that aims for the global attainment. All of these must be sustainable for a company. Since innovation is the answer for BOP, the potential companies who can sustain the authentic development must go for it. This is a change for the image of the company as well as reputation of the name itself.
The flow of ideas, knowledge, and innovation will become a two-way street from the developed countries to the developing countries as well. Because of this statement, we can say that those countries that had lack opportunity can make it through by helping other developed countries. Private sector as stated here has a desire to leverage resources and gain market coverage and will invent more new systems to accommodate the people they are serving with. A positive situation for both large companies and BOP Consumers.
Integrative Questions:
- How to engage BOP to Global Opportunity?
- What are the benefits of operating BOP?
- Is it true that BOP can be a source of innovation?
- How does BOP grow in market?
- How does BOP develop solutions for market?
Citations: N/A
