Home > Articles > Business & Management > Global Business

This chapter is from the book

Practical Solutions for Escaping The Survival Trap

As discussed above and further explored throughout this book, varied stakeholder groups have unique roles to play in the process of escaping The Survival Trap. Stakeholders must realize that business creates opportunities for all citizens as players, especially the poor. Business has the know-how to deploy capital effectively for all involved. Entrepreneurial Solutions for Prosperity frames the debate for each of the key players.

  • Business Businesspeople must equip themselves to "name the elephant in the room" in their businesses and at the national level. By identifying The Survival Trap and its characteristics, entrepreneurs are then able to identify practical actions within their control to address its pervasive effects. Managers must develop an improved understanding of the challenges of operating in BoP markets, in particular the unique challenges of an environment as nuanced as emerging nations especially Africa. All business leaders will learn how to leverage the Seven Opportunities to conduct "good" and profitable business in BoP markets.
  • Government Governments sometimes embrace "private sector led development" without the tools to effectively fuel this change. Failure comes from the lack of a structured approach linking mindset change to day-to-day actions. Entrepreneurial Solutions for Prosperity helps government leaders identify the mindsets and actions required to enable businesses operating in BoP markets to have a positive societal impact, while maintaining optimal profitability. Government further learns to foster an entrepreneurial mindset in their midst and break continuous dependence on development partners.
  • Development partners Development partners gain the tools to challenge both business and governments to play their respective roles in fostering prosperity in BoP countries. Partners also develop a better understanding of the systemic reasons BoP markets remain mired in poverty, and identify the mindsets and actions to enable businesses in BoP markets to operate effectively. Finally, development partners gain the resources necessary to challenge the existing entrepreneurship/private sector development model that puts the onus on development partners and government as opposed to the entrepreneur.
  • + Share This
  • 🔖 Save To Your Account