How to Design and Implement Social Business Models for Base-of-the-Pyramid (BoP) Markets&quest;
AbstractThis article studies for-profit social enterprises, which bundle entrepreneurial attitude with the passion to design and implement inclusive business models targeting the basic needs at the Base-of-the-Pyramid (BoP). The research objective involves understanding the challenges and strategic choices required for inclusive business models at the BoP. A qualitative multi-case-based research methodology is used for data collection and analysis. The experience of four social enterprises studied helps to gauge the ‘provisioning-for-all’ discourse, and resolve the theoretical tension as to why ‘self-sustaining’ should mean ‘profit driven’, as self-sustaining can signify ‘not-for-profit’ as well. The BoP market challenges include market imperfections; ethical dilemmas; missed identity; scarce resources; identifying real needs; quantifying socio-economic impact. The corresponding strategic choices are identified and mapped to the challenges, to enable social entrepreneurs to implement better informed decisions and social interventions at the BoP.