The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits is a book on entrepreneurship by C.K. Prahalad. Through this book, Prahalad has shared his keen business insight and brought to light that the market at the bottom of the Pyramid is the fastest growing market of all. Great companies from the world over have identified with this thought and sought to expand into emerging and developing markets and profit from them while at same time eradicating the poverty in these poor markets.
In the book, the author talks about the recent technological advances, globalisation, consumer goods, etc. all of which make investing and penetrating businesses in rural areas very feasible. Eleven case studies are given in the book. These include the study of the innovative supply chain of Jaipur Rugs and other stories about banking sector, the mobile sector and the healthcare sector. The book starts off describing poverty during the period of 2004 to 2009. Then the author goes on to explaining the opportunities presented by the emerging markets at the bottom of the Pyramid. After that, detailed interviews with CEOs of top companies and success stories about companies like ICICI, Hindustan Unilever, ITC e-Choupal, etc. are discussed. It is the fifth and the completely updated edition of the book first published in 2012. All of the ideas about emerging markets discussed in the book has been tried, tested and proven successfully.
C.K. Prahalad (1941-2010) was a well known entrepreneur. He was an MBA from IIM Ahmedabad and was also a professor of strategies in the University of Michigan. In the last ten years, he has been noted as one of the top ten management thinkers. He was also the recipient of the Lal Bahadur Shastri award for his contribution to management and public administration in 1999. Apart from this book, he co-authored The New Age of Innovation with M.S. Krishnan and Core Competence of The Corporation with Gary Hamel.
You can order online today the hardcover edition of The Fortune at the Bottom of the Pyramid, published by Motilal UK Books of India, with the ISBN-10 number of 8131730808 and ISBN-13 number of 978-8131730805.