Perhaps the most significant business book written over the last decade is The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits.  This book, written by the late C.K. Prahalad, discussed the rise of those at the lowest end the financial “pyramid” and how companies, if they “started with a blank sheet of paper,” might be able to use capitalism for the benefit of all.  The corporate dreamers aggressively began to pursue the opportunities discussed in the book with a wide variety of successes seen over the last decade.  Just last week, despite the worldwide economic problems, the UN announced that the number of those living in extreme poverty had been cut in half which  resulted in the achievement of the first Millennium Development Goal.  Yes, there has been significant progress in the world’s economy.

So what type of things did this work entail?  Companies began selling single use shampoos and small soaps.  Agriculture companies began product development work to help with the specific needs of those living in poverty.  Cell phone companies have had considerable success around the world and those selling minutes for cell phones have developed lucrative businesses.  There are so many more intriguing wins and if you read the book these ideas will start your creative juices flowing, and quite frankly, it may be tough to stop thinking about the ingenuity. Continue reading →