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:

Brym and Lie

A reference to authors of sociological literature, highlighting their contributions to the field through their writings and theories.

Social Stratification

The hierarchical arrangement or classification of individuals within a society based on wealth, income, social status, occupation, or other criteria.

Marx

Karl Marx, a 19th-century philosopher, economist, and revolutionary socialist whose works about the struggles between classes under capitalism are foundational to the development of communist theory.

Weber

A reference to Max Weber, a German sociologist and political economist whose theories on authority, bureaucracy, and social stratification have significantly influenced the field of sociology.