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Introduction Contd...
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The propounders of the BoP Protocol say that MNCs could
identify sustainable new products and businesses by understanding and partnering
with BoP consumers and developing products targeted at them. According to
Prahalad, "The aspiring poor present a prodigious opportunity for the world's
wealthiest companies. But it requires a radical new approach to business
strategy."1
The Beginning
In 2002, the BoP learning lab was launched by a consortium of
companies, non-governmental organizations (NGOs) and academic institutions
including SC Johnson & Son Inc. (SC Johnson)2,
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E. I. du Pont de Nemours and Company (DuPont)3, Hewlett-Packard Company (HP)4, Tetra Pak5, Cornell University6, the University of Michigan7, the World Resources Institute8, and The Johnson Foundation.
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The BoP Protocol was envisaged after the companies
involved in the BoP learning lab expressed concern about their inability
to understand and serve the BoP communities.
Bop Protocol aimed at identifying and developing sustainable new
products and business models in association with BoP communities for
low-income markets.
According to Hart, "The Base of the Pyramid Protocol is a model for
business co-creation that marries a multinational corporation's
capabilities, resources, and technologies with those of Base of the
Pyramid communities."9 |
Excerpts
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