Solve Poverty Profitably
C.K. Prahalad, a strategy guru from the University of Michigan believes that poverty can be solved while people make a profit from it at the same time. There is money to be made from the "lowest rungs of the economic food chain." In his new book, "The Fortune at the Bottom of the Pyramid", he says that businesses are missing a huge opportunity.
The poor represent "$14 trillion in purchasing power, more than Germany, the UK, Italy, France and Japan put together." More interestingly is what they need...everything..."
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Target's success may be overshadowed by the legendary Walmart dynasty, but in actuality, it is creating phenomenal achievements in its own right.
Annual sales are larger than those of Coke and Pepsi combined
Shareholders have made 603% in the past 10 years.
Target dares to be different through trendy, distinct products.
The CEO pushes everyone to go the extra mile to find awesome products and continually redesign the way the stores look.
Target has not expanded beyond the US, nor mimicked the Walmart Supercenters and gone into direct rivalry with Walmart.
Target is the same size that Walmart was 10 years ago.
Target's original idea was to take high-end department store high-quality merchandise and sell it in its own discount stores. Their prices were slightly above the lowest sellers, and they offered everything imaginable, including artificial Christmas trees that no one thought would sell.
Though they started the same year as Kmart, Walmart
and Kohl's,
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