Poverty is one of the biggest problems not only here in the Philippines but also in different parts of the world. Here in the Philippines, solving the problem of poverty is also one of the top lists on the platforms of the politicians. Basically the video we watched is all about “Democratizing Commerce”, which concerns obviously to the consumers. C. K. Palahad said that every person have the access benefits to the Global Economy. This means that every human being should treat as a real consumer. All consumers should have to afford all products and services and suppliers should have the access of global markets. Pralahad said that we must focus on large firms and new business, NGO’s and public sectors. Through determination we can actually lead to these factors and poor people are centered through them. Pralahad mentioned that poor people become as the contested market.
He also mentioned and emphasized to the people what are the possible results when our main concern is the poor people. He said that, we must formulate world class products with an affordable wherein poor people can accommodate. From his statements on the symposium, poor people are the intractable or unsolvable problem for us. From unsolvable problem, they can be new representatives on BOP (Bottom of the pyramid) and then we can formulate a source or way of innovation from these people. In this particular video, we can see those people who are being helped. Imagine that your consumers are very thankful to you and your products. That’s why we should make affordable and world class products for the poor people. All we need to is to cooperate and determination to innovate the world for new technology.
Underlined phrases/words ---> 10 new ideas
Watch the video here ---> MLK SYMPOSIUM
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