Here’s my post on Triple Pundit as part of a series from Beyond Profit and Triple Pundit that will explore innovative business models aimed at tapping the bottom of the pyramid (BoP) market.
More than 3 billion people worldwide live on less than US$2.50 a day—less than a morning coffee at Starbuck’s for some. Traditionally, reaching out to these populations involved aid and charity. Recently, however, this has begun to change, and private, for-profit ventures are thriving. These are often known as social business—a term coined by Nobel Prize winner Muhammad Yunus.