First published on Facebook on 31st December 2020.
"Life imitating academic thought process or academic thought process imitating life"
The jury is out there but the noble "fortune at the bottom of the pyramid" theory propagated by Prof C.K.Prahalad is often cited as an example of how paisas and rupees can be used to built a business fortune. In simple words it shows how the poorest of the poor can too become a source of business opportunity.
According to a report today in Deccan Chronicle the loan lending apps have done a whopping 1.4 crore transactions worth 21,000 crores. Mind blogging figure and each transaction is worth Rs 15,000/-.
Most people were given a loan worth Rs 3,000/-. That is an astonishing return of 400%. I can bet that no Harvard, Stanford, ISB or IIMs teach such financial management skills. This is what they don't teach in a B-School!
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