Making business for the poor: Innovative approaches can convert poverty into opportunity, says Ferda
Tuesday, March 22, 2005
The report said that 4 billion bottom of the pyramid (BOP) people with a per capita income of less than $1500 a year provides multinationals and large local companies with an alternative market for their goods and services. A good example of a business ecosystem at work is Hindustan Lever Ltd., a major producer of personal care and food products in India. Its ecosystem includes 80 manufacturing factories, 150 small and medium enterprise suppliers employing up to 40,000 people, 7,250 people exclusive stockists, 12,000 wholesalers and small retailers, 0.3 million shop owners and 1.5 million industrial entrepreneurs in remote villages who sell its products, a number to grow to 1 million on current expectation.
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Source: Financial Express