The
debate of growth rates in Emerging markets has always been an interesting one .On
one hand these markets have registered great growth rates…. however reports suggest that this change has happened
at the cost of a lot of social and economic inequality .So how do we bring in equilibrium?.
In a thoughtful HBR Blog Prof Vijay Govindarajan and Ravi Ramamurti explain 3 ways thru which businesses have tried to
bring in equality in EM.
Three 3 ideas that are mentioned are:
A)Designing products and services customized for EM
Example of a mobile banking product m-PESA by Vodafone and
how it was used in Kenya
B)Second creating employment and access opportunities
Example of Aravind hospital in India where they enlisted the poor to
help the poor. Case of more than 2/3rd of their staff being girls
from nearby villages who were trained to help perform he cost effective high
quality cataract surgeries
Creating an ecosystem for education which can be a great
enabler
C)Kroton in Brazil- It ensures that
quality education reaches the underprivileged
thru an online and cost effective model .These graduates in turn were able
to see their income grow “by a higher multiple than students in any OECD country”
PS-I have mentioned the article summary here …Original
article can be found at
https://hbr.org/2015/01/3-ways-businesses-are-addressing-inequality-in-emerging-markets
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