Four billion people – more than half of the world’s population – lives on less than $2/day. A revolution is underway where these citizens refuse to be stuck in survival. Recent events in Egypt illustrate this cry for change.Yet, leading business thinkers have identified this population – often called the “Base of the Pyramid” (BoP) – as one of the greatest opportunities of the 21st century.Many business leaders have considered these markets “too difficult to crack” – or have failed trying to do so. Similarly, entrepreneurs operating in Base of the Pyramid markets struggle to realize the economic potential of the market.Author Eric Kacou identifies the problem as the ‘survival trap’ a tendency for businesses and nations to focus on short-term crises at the expense of developing long-term strategies for prosperity. This vicious cycle keeps individuals poor, businesses struggling, and nations under-developed.
“This book is about prosperity creation in business and society.” states Kacou about his new book,“Entrepreneurial Solutions for Prosperity in BoP Markets (Wharton School Publishing, ISBN-13: 9780137079261, 336 pages, $29.99, January 2011)”. After identifying outdated mindsets which have lead to mistrust, dependence, and failure, this book shares the secrets of entrepreneurs that have made it and are transforming the Base of the Pyramid markets where they operate.What do the successes of these entrepreneurs and of nations like Rwanda teach us about fostering the entrepreneurial spirit at the Base of the Pyramid? What practical techniques can business and government leaders use to unleash the untapped potential of this huge market.