I was very saddened to hear over the weekend that C.K. Prahalad passed away. An Indian-born management expert, businessman and professor, he could be called “the father of the base of the pyramid” thanks to his unique understanding of the needs and potential of our world’s poorest people. In 2002, he and Stuart Hart co-authored a groundbreaking article in the journal Strategy + Business, titled “The Fortune at the Bottom of the Pyramid,” which led to C.K.’s acclaimed 2004 book “The Fortune at the Bottom of the Pyramid: Eradicating Poverty through Profits.” He did so much to educate me and countless others who work in international development. We probably wouldn’t even be using the term “base of the pyramid” without C.K.
C.K. believed that there were huge market opportunities for those companies that were willing to develop new products and approaches to better serve the BOP. His views on the role of the private sector played a central part in the launch of the only dedicated unit under a multilateral development bank devoted to promoting market-based solutions for the base of the pyramid, namely IDB’s Opportunities for the Majority. I remember well his advice on setting up a start-up operation within a multilateral development bank: "Start small, learn fast and then scale." It was sound advice and has helped Opportunities for the Majority get off to a strong start.
I first met C.K. at a WRI board meeting in 2003 and I was very impressed by his strong views on the role of developing countries as an emerging source of innovation and disruptive thinking, particularly regarding business models to serve the poor. He and I later talked about traveling to India together so Opportunities for the Majority could learn more about the progress made there through entrepreneurship and private sector investment and apply the lessons learned in India to our projects in Latin America and the Caribbean. I very much regret that I won’t have the opportunity to take that trip. Fortunately, we did travel together once, to Colombia in 2007, where we met with President Uribe. On that trip, C.K. shared with me a personal goal which gave me insight into the full dimension of his amazing character. "I want to touch the lives of 100 million people during my life," he said.
I’m heartened thinking about the influence C.K. Prahalad will continue to have on the world, as people will read his books and use his approaches to engaging with the base of the pyramid for many years to come. I’m starting to think about organizing a conference next year at which we can showcase his legacy in Latin America and the Caribbean. Many thanks, my friend. You will be missed, but never forgotten.
C.K. Prahalad was a frequent contributor to the Harvard Business Review, which has set up a special section with several of his articles and other tributes from colleagues and friends. If you would like to share your own thoughts on Prahalad’s work and his legacy, you may leave comments on the Majority Markets Facebook or LinkedIn pages.
