Explain and Give an Example of How Firms Will Use

question 31

Essay

Explain and give an example of how firms will use the theory of bottom of the pyramid in the global economy.
Firms can find significant business opportunities serving the 4 billion people at the bottom of the pyramid.In the process,they can improve the living standard of the world's poorest.How can they do this? One example is Muhammad Yunus,who discovered a way to provide small loans (microcredit)to impoverished villagers in Bangladesh.These loans have allowed villagers to overcome their poverty.

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Definitions:

Stacked Bars

A type of bar chart where bars are divided into color-coded segments to represent multiple related data points.

Differentiate

The ability to identify and articulate the differences between two or more items or concepts.

Truncated Scale

A measurement scale that is shortened by omitting the scale's end points or a portion of its range, often to focus on a specific segment of data.

Three-Dimensional Graphs

Visual representations of data in three dimensions, providing insights into complex relationships between variables.