The interest in poverty and the moral sense of ‘helping the poor’ are a constant topic in Western culture (Moyo 2009). In recent years, multinational corporations (MNCs) have evolved in their understanding of how social issues, such as poverty allevia-tion, relate to their fundamental purposes. From a business strategy point of view, ‘socially responsible’ initiatives are generally born with the dual purpose of attaining social visibility (i.e. marketing) and increasing economic returns. Besides address-ing social challenges as part of their corporate social responsibility strategies, MNCs have also begun ‘selling to the poor’ in emerging markets (Prahalad 2004). A few forward-looking companies consider this base of the pyramid market also as a source of innovation and have started to co-create with consumers (Simanis and Hart 2008).
|Title of host publication||Socially Responsive Organizations and the Challenge of Poverty|
|Number of pages||11|
|Publication status||Published - 2014|
- new business model