Providing Value to Many

The 4 billion people who exist in the BOP need and want access to resources to be able to improve their quality of life. Although their consumer spending is not as high as developed markets, their collective spending and willingness to reap the benefits of modern consumerism is an ignored market that businesses and government should consider more carefully. Businesses concentrate on maximizing profits, yet they have overlooked a large portion of the population and their needs and desires. Although products might be valuable to some, if they are not affordable and accessible to the masses, then the economy will remain stagnant locally and globally.

R.A. Mashelkar is the president of Global Research Alliance, "propagating the principles of gandhian engineering, a system of development aligned with sustainability principles to create more useful goods and services for more people using fewer resources." He believes in providing value to many. The concept that Mashelkar discusses encompasses frugal engineering and how limiting waste and careful planning can provide quality products to the masses. He talks about how manufacturers who sell prosthetic limbs are not considering the need of their market when they price life-altering limbs for a reduced rate of $9,000 because the people who need them, who need them to work and improve their quality of life, need a quality prosthetic for $200. He discusses how the design of prosthetic limbs are designed for a limited market and do not take into account the other markets that need them. The Jaipur foot was designed for such a need in India, a customizable prostethic foot that works in all terrain, that fits the culture of India and how they travel and is affordable to a country where the average person makes $2 a day. Using science and technology as well as a gandhian, altruistic approach, Mashelkar proposes that we use a convex lens leadership approach to entrepreneurship and change our perspective from the "top-down" to the "bottom-up." I believe that for our world to see substantial change, for lives to improve and for our world to move forward, more people need to approach problems like Mashelkar. By shifting our focus to the "bottom," to expand our view to providing value to many, we can begin to see change globally. We can strengthen our economy and provide access to goods and services to people so that they have the resources they need to improve their quality of life. 

My questions to think about - How do we begin to become real agents of change? Where does it truly start? And how do we really impact our local economy to bring those changes to fruition?

Here's a great TED talk from R.A. Mashelkar on Breakthrough Designs For Ultra Low Cost Products: http://www.ted.com/talks/r_a_mashelkar_breakthrough_designs_for_ultra_low_cost_products.html